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

Kite Realty Group Trust (NYSE:KRG - Get Free Report) Director Steven P. Grimes sold 37,295 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the transaction, the director now directly owns 732,252 shares in the company, valued at $19,624,353.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Kite Realty Group Trust Stock Up 0.3 %

Kite Realty Group Trust stock traded up $0.07 during trading hours on Wednesday, hitting $26.77. 1,314,464 shares of the stock traded hands, compared to its average volume of 1,601,760. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $27.15. The firm's 50-day moving average price is $24.95 and its two-hundred day moving average price is $22.61. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.88. The company has a market cap of $5.88 billion, a PE ratio of 102.96, a PEG ratio of 3.97 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 9th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This is a positive change from Kite Realty Group Trust's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 3.88%. Kite Realty Group Trust's payout ratio is currently 400.00%.

Institutional Investors Weigh In On Kite Realty Group Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRG. Pineridge Advisors LLC bought a new stake in shares of Kite Realty Group Trust during the 4th quarter valued at $39,000. Fidelis Capital Partners LLC bought a new stake in Kite Realty Group Trust during the first quarter worth about $42,000. GAMMA Investing LLC grew its holdings in Kite Realty Group Trust by 158.2% in 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 period. Quarry LP increased its stake 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 valued at $50,000 after purchasing an additional 1,167 shares in the last quarter. Finally, SageView Advisory Group LLC purchased a new position in shares of Kite Realty Group Trust during the first quarter valued at approximately $52,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KRG has been the topic of several recent analyst reports. Piper Sandler raised their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, September 3rd. 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 target on the stock in a report on Friday, August 16th. Robert W. Baird upped their price objective on shares of 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. Wells Fargo & Company raised Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Finally, Compass Point upped their price target on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $28.00.

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.