Kite Realty Group Trust (NYSE:KRG) Director Sells $999,506.00 in Stock

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

Kite Realty Group Trust Trading Down 0.3 %

Shares of NYSE KRG opened at $26.70 on Wednesday. The company has a market cap of $5.86 billion, a price-to-earnings ratio of 102.69, a price-to-earnings-growth ratio of 3.97 and a beta of 1.29. The stock’s 50 day simple moving average is $24.86 and its 200 day simple moving average is $22.58. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.88. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $27.10.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.26 per share. This is an increase 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 3.90%. Kite Realty Group Trust’s payout ratio is 400.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on KRG shares. Piper Sandler increased their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Robert W. Baird raised their price target on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. Raymond James raised 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 report on Friday, August 16th. Finally, KeyCorp increased their price target on shares of 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Institutional Trading of Kite Realty Group Trust

A number of large investors have recently modified their holdings of the company. Norges Bank acquired a new position in Kite Realty Group Trust during the 4th quarter valued at about $52,746,000. Land & Buildings Investment Management LLC bought a new stake in shares of Kite Realty Group Trust during the second quarter valued at approximately $22,277,000. Vanguard Group Inc. boosted its position 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 worth $728,391,000 after buying an additional 881,502 shares during the period. APG Asset Management US Inc. bought a new position in Kite Realty Group Trust in the 2nd quarter worth approximately $16,665,000. Finally, Balyasny Asset Management L.P. increased its position in Kite Realty Group Trust by 28.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock valued at $71,326,000 after acquiring an additional 693,852 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.