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 business’s 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 owns 732,252 shares of the company’s stock, valued at $19,624,353.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Kite Realty Group Trust Trading Down 0.8 %

NYSE:KRG opened at $26.34 on Friday. The stock has a 50-day simple moving average of $25.09 and a 200-day simple moving average of $22.67. The stock has a market cap of $5.78 billion, a P/E ratio of 101.31, a P/E/G ratio of 3.97 and a beta of 1.29. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $27.15. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.26 per share. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Wednesday, October 9th. Kite Realty Group Trust’s dividend payout ratio is currently 400.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Entropy Technologies LP acquired a new stake in shares of Kite Realty Group Trust in the 1st quarter valued at about $594,000. Vanguard Group Inc. raised its stake in shares of Kite Realty Group Trust by 2.7% during the 1st 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 in the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Kite Realty Group Trust by 28.6% during the 4th 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 in the last quarter. Boston Partners purchased a new position in shares of Kite Realty Group Trust during the 1st quarter worth approximately $752,000. Finally, Daiwa Securities Group Inc. increased its stake 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 purchasing an additional 285,856 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KRG has been the topic of a number of research analyst reports. Compass Point lifted their price target on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Robert W. Baird upped their price target on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Piper Sandler upped their price target on Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a report on Friday, August 16th. Finally, KeyCorp boosted their price objective on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Three research 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.00.

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.