Kite Realty Group Trust (NYSE:KRG) Director Steven P. Grimes Sells 46,500 Shares

Kite Realty Group Trust (NYSE:KRGGet Rating) Director Steven P. Grimes sold 46,500 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $21.77, for a total transaction of $1,012,305.00. Following the completion of the transaction, the director now owns 823,506 shares in the company, valued at $17,927,725.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $22.03 on Thursday. Kite Realty Group Trust has a fifty-two week low of $16.42 and a fifty-two week high of $23.35. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.15 and a quick ratio of 1.15. The business has a 50 day moving average price of $19.16 and a 200-day moving average price of $19.36.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, January 6th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Thursday, January 5th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.22. Kite Realty Group Trust’s dividend payout ratio is -151.72%.

Institutional Trading of Kite Realty Group Trust

A number of institutional investors have recently made changes to their positions in the stock. Legacy Wealth Asset Management LLC boosted its stake in shares of Kite Realty Group Trust by 3.3% during the second quarter. Legacy Wealth Asset Management LLC now owns 18,570 shares of the real estate investment trust’s stock valued at $321,000 after purchasing an additional 593 shares during the period. Pictet Asset Management SA lifted its stake in Kite Realty Group Trust by 0.7% in the second quarter. Pictet Asset Management SA now owns 86,113 shares of the real estate investment trust’s stock worth $1,489,000 after acquiring an additional 617 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Kite Realty Group Trust by 1.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 63,945 shares of the real estate investment trust’s stock worth $1,101,000 after acquiring an additional 766 shares during the period. Crossmark Global Holdings Inc. lifted its stake in Kite Realty Group Trust by 4.7% in the first quarter. Crossmark Global Holdings Inc. now owns 17,806 shares of the real estate investment trust’s stock worth $405,000 after acquiring an additional 800 shares during the period. Finally, CENTRAL TRUST Co lifted its stake in Kite Realty Group Trust by 91.4% in the third quarter. CENTRAL TRUST Co now owns 1,675 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 800 shares during the period. Hedge funds and other institutional investors own 95.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays decreased their price objective on shares of Kite Realty Group Trust to $24.00 in a research report on Thursday, October 27th. Piper Sandler increased their price target on shares of Kite Realty Group Trust to $25.00 in a research report on Wednesday, November 16th. Bank of America upgraded shares of Kite Realty Group Trust from a “neutral” rating to a “buy” rating and increased their price target for the company from $22.00 to $25.00 in a research report on Wednesday, November 9th. StockNews.com upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Friday, November 4th. Finally, Citigroup upgraded shares of Kite Realty Group Trust from a “neutral” rating to a “buy” rating and increased their price target for the company from $20.00 to $22.00 in a research report on Monday, September 19th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.13.

About Kite Realty Group Trust

(Get Rating)

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

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