Kite Realty Group Trust (NYSE:KRG) Director Steven P. Grimes Sells 37,295 Shares of Stock

Kite Realty Group Trust (NYSE:KRG) Director Steven P. Grimes sold 37,295 shares of the company’s 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 in the company, valued at $19,624,353.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Kite Realty Group Trust Stock Up 0.3 %

Shares of NYSE KRG opened at $26.77 on Thursday. The business has a 50-day moving average price of $24.95 and a 200 day moving average price of $22.61. The stock 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. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $27.15. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.26 per share. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 3.88%. The ex-dividend date is Wednesday, October 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 400.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price objective 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. Robert W. Baird boosted their price target on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Raymond James raised shares of 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 research report on Friday, August 16th. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Finally, KeyCorp increased their target price 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 analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Institutional Investors Weigh In On Kite Realty Group Trust

Hedge funds have recently made changes to their positions in the business. Pineridge Advisors LLC purchased a new stake in Kite Realty Group Trust during the 4th quarter valued at approximately $39,000. Fidelis Capital Partners LLC acquired a new position in shares of Kite Realty Group Trust in the first quarter valued at approximately $42,000. GAMMA Investing LLC raised its stake in shares of Kite Realty Group Trust by 158.2% during the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,204 shares during the last quarter. Quarry LP lifted its holdings in shares of Kite Realty Group Trust by 108.4% during the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,167 shares during the period. Finally, SageView Advisory Group LLC purchased a new position in Kite Realty Group Trust in the 1st quarter valued at $52,000. 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.