Insider Selling: Kite Realty Group Trust (NYSE:KRG) Director Sells 37,295 Shares of Stock

Kite Realty Group Trust (NYSE:KRG) Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the sale, the director now directly owns 732,252 shares in the company, valued at approximately $19,624,353.60. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $26.77 on Thursday. The firm has a market cap of $5.88 billion, a PE ratio of 102.96, a price-to-earnings-growth ratio of 3.97 and a beta of 1.29. The business has a 50 day moving average price of $24.95 and a two-hundred day moving average price of $22.61. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.88. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.15.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be given a $0.26 dividend. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.04 annualized dividend and a dividend yield of 3.88%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 400.00%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KRG. Compass Point boosted their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research note on Friday, August 16th. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Piper Sandler raised their price objective on Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Finally, KeyCorp upped their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given 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 price target of $28.00.

Institutional Investors Weigh In On Kite Realty Group Trust

Several institutional investors and hedge funds have recently made changes to their positions in KRG. Entropy Technologies LP bought a new position in shares of Kite Realty Group Trust in the 1st quarter worth about $594,000. Vanguard Group Inc. raised its holdings in shares of Kite Realty Group Trust by 2.7% during the first quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock valued at $728,391,000 after buying an additional 881,502 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Kite Realty Group Trust by 28.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock worth $71,326,000 after buying an additional 693,852 shares during the period. Boston Partners bought a new position in Kite Realty Group Trust in the 1st quarter worth approximately $752,000. Finally, Daiwa Securities Group Inc. increased its position in Kite Realty Group Trust by 430.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 352,219 shares of the real estate investment trust’s stock valued at $7,636,000 after acquiring an additional 285,856 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

About Kite Realty Group Trust

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.