Kite Realty Group Trust (NYSE:KRG) Sees Large Growth in Short Interest

Kite Realty Group Trust (NYSE:KRG) saw a large growth in short interest in January. As of January 15th, there was short interest totalling 7,560,000 shares, a growth of 7.8% from the December 31st total of 7,010,000 shares. Based on an average daily volume of 1,570,000 shares, the short-interest ratio is presently 4.8 days.

Kite Realty Group Trust Price Performance

KRG traded down $0.12 during midday trading on Tuesday, reaching $22.75. 150,602 shares of the company’s stock were exchanged, compared to its average volume of 1,915,385. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. The business’s 50-day moving average price is $25.05 and its 200 day moving average price is $25.52. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The stock has a market capitalization of $5.00 billion, a PE ratio of -568.63, a P/E/G ratio of 3.62 and a beta of 1.27.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in KRG. EMC Capital Management boosted its stake in Kite Realty Group Trust by 4.9% in the 4th quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust’s stock worth $242,000 after buying an additional 447 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Kite Realty Group Trust by 2.6% in the fourth quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust’s stock worth $465,000 after acquiring an additional 466 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Kite Realty Group Trust by 0.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,141 shares of the real estate investment trust’s stock valued at $2,554,000 after purchasing an additional 483 shares during the period. State of Alaska Department of Revenue raised its stake in Kite Realty Group Trust by 0.4% during the third quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust’s stock worth $3,408,000 after purchasing an additional 484 shares during the period. Finally, Marcum Wealth LLC grew its stake in shares of Kite Realty Group Trust by 1.4% during the 3rd quarter. Marcum Wealth LLC now owns 40,855 shares of the real estate investment trust’s stock valued at $1,085,000 after buying an additional 571 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

KRG has been the subject of a number of analyst reports. Robert W. Baird boosted their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Wells Fargo & Company cut their target price on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. KeyCorp upped their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. cut their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their target price for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Kite Realty Group Trust has an average rating of “Moderate Buy” and an average price target of $29.13.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.