Short Interest in Kite Realty Group Trust (KRG) Declines By 58.8%

Kite Realty Group Trust (NYSE:KRG) saw a large drop in short interest in the month of October. As of October 13th, there was short interest totalling 2,007,101 shares, a drop of 58.8% from the September 29th total of 4,873,755 shares. Based on an average daily trading volume, of 538,294 shares, the days-to-cover ratio is currently 3.7 days. Currently, 2.4% of the company’s shares are short sold.

Several brokerages have recently commented on KRG. Capital One Financial Corporation reaffirmed an “equal weight” rating on shares of Kite Realty Group Trust in a research report on Tuesday, October 24th. Zacks Investment Research downgraded shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. ValuEngine raised shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. KeyCorp reaffirmed a “hold” rating on shares of Kite Realty Group Trust in a research report on Friday, August 25th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $23.00 price objective on shares of Kite Realty Group Trust in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Kite Realty Group Trust presently has a consensus rating of “Buy” and an average target price of $25.33.

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC raised its holdings in Kite Realty Group Trust by 11.5% in the second quarter. SG Americas Securities LLC now owns 5,394 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 557 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in Kite Realty Group Trust by 64.1% in the second quarter. Riverhead Capital Management LLC now owns 6,727 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 2,627 shares in the last quarter. First Mercantile Trust Co. raised its holdings in Kite Realty Group Trust by 14.4% in the second quarter. First Mercantile Trust Co. now owns 6,737 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 850 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in Kite Realty Group Trust by 58.1% in the second quarter. Perigon Wealth Management LLC now owns 6,800 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in Kite Realty Group Trust by 374.1% in the third quarter. Meeder Asset Management Inc. now owns 7,126 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 5,623 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. The business had revenue of $87.10 million during the quarter, compared to the consensus estimate of $88.16 million. Kite Realty Group Trust had a return on equity of 0.80% and a net margin of 3.60%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, October 6th were issued a $0.3025 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $1.21 dividend on an annualized basis and a yield of 6.47%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 806.67%.

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About Kite Realty Group Trust

Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.

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