Steven P. Grimes Sells 32,054 Shares of Kite Realty Group Trust (NYSE:KRG) Stock

Kite Realty Group Trust (NYSE:KRGGet Rating) Director Steven P. Grimes sold 32,054 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $22.22, for a total value of $712,239.88. Following the transaction, the director now directly owns 791,452 shares in the company, valued at approximately $17,586,063.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Kite Realty Group Trust Stock Performance

KRG opened at $22.03 on Friday. The business has a fifty day simple moving average of $19.23 and a 200 day simple moving average of $19.38. The company has a market capitalization of $4.83 billion, a PE ratio of -37.98, a price-to-earnings-growth ratio of 1.31 and a beta of 1.33. Kite Realty Group Trust has a 1 year low of $16.42 and a 1 year 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.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, January 6th will be paid a $0.24 dividend. The ex-dividend date is Thursday, January 5th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 4.36%. Kite Realty Group Trust’s payout ratio is -151.72%.

Wall Street Analyst Weigh In

Several research firms have weighed in on KRG. Citigroup raised Kite Realty Group Trust from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $20.00 to $22.00 in a research report on Monday, September 19th. Barclays lowered their price target on Kite Realty Group Trust to $24.00 in a research report on Thursday, October 27th. Piper Sandler boosted their price target on Kite Realty Group Trust to $25.00 in a research report on Wednesday, November 16th. Robert W. Baird boosted their target price on Kite Realty Group Trust from $25.00 to $26.00 in a report on Monday, August 15th. Finally, StockNews.com raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Friday, November 4th. Two investment 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. According to MarketBeat.com, Kite Realty Group Trust currently has an average rating of “Moderate Buy” and an average target price of $25.13.

Institutional Trading of Kite Realty Group Trust

Institutional investors have recently added to or reduced their stakes in the company. ACG Wealth bought a new stake in Kite Realty Group Trust in the 2nd quarter valued at $79,000. Cohen & Steers Inc. boosted its stake in Kite Realty Group Trust by 113.8% in the 1st quarter. Cohen & Steers Inc. now owns 7,156,681 shares of the real estate investment trust’s stock valued at $162,958,000 after purchasing an additional 3,808,847 shares during the period. Clearbridge Investments LLC boosted its stake in Kite Realty Group Trust by 5.5% in the 2nd quarter. Clearbridge Investments LLC now owns 1,002,595 shares of the real estate investment trust’s stock valued at $17,335,000 after purchasing an additional 51,858 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Kite Realty Group Trust by 14.1% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,356 shares of the real estate investment trust’s stock valued at $490,000 after purchasing an additional 3,506 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Kite Realty Group Trust by 38.0% during the 1st quarter. MetLife Investment Management LLC now owns 251,986 shares of the real estate investment trust’s stock valued at $5,738,000 after acquiring an additional 69,398 shares during the period. 95.73% of the stock is currently owned by institutional investors.

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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