On November 23, Steven P. Grimes, the director of Kite Realty Group Trust (NYSE: KRG), sold 32,054 shares of Kite Realty Group Trust stock. At an average price of $22.22, the shares brought in $712,239,88 in revenue after being sold. As a result of the transaction, the director now owns 791,452 shares in the firm, which have a combined value of $17,586,063.44. The transaction was disclosed in a legal filing submitted to the Securities and Exchange Commission (SEC), and that filing can be located on the website of the SEC.
In addition, the company has announced a quarterly dividend, which is scheduled to be distributed on the 13th of this month. On Friday, January 6, stockholders of record will be eligible to receive dividend payments of $0.24 per share. This results in a dividend payment of $0.96 per year and a dividend yield of 4.36%. When expressed on an annualized basis. The previous quarterly dividend paid by Kite Realty Group Trust was $0.22. This represents an increase from that payout. The date that the dividend will be forfeited is this coming Thursday, January 5. At this time, Kite Realty Group Trust has a dividend payout ratio of -151.72%.
The price of NYSE: KRG shares dropped to $22.03 on Wednesday after falling $0.27. The number of shares that changed hands was 1,013,454, which is lower than the daily average volume of 1,447,149. The debt-to-equity ratio comes in at 0.78, while the current and quick ratios come in at 1.15. Kite Realty Group Trust had an all-time high of $23.35, while its all-time low was $16.42 last year. The stock’s moving average over the past fifty days is $19.10, and its moving average over the past 200 days is $19.34.
Recently, several institutional investors made changes to the stakes they had in the company. Legacy Wealth Asset Management LLC added 3.3% more Kite Realty Group Trust shares to its portfolio during the second quarter. Pictet Asset Management SA increased its holdings in Kite Realty Group Trust in the second quarter by 0.7%. Legacy Wealth Asset Management LLC now owns 18,570 shares of the real estate investment trust’s stock, valued at $321,000, after purchasing an additional 593 shares. These 18,570 shares are valued at $321,000. Pictet Asset Management SA increased its holdings in Kite Realty Group Trust in the second quarter by 0.7%. Pictet Asset Management SA presently owns 86,113 real estate investment trust shares for $1,489,000 per share. This is an increase of 617 shares from the preceding period. The Oregon Public Employees Retirement Fund invested 1.2% more money in Kite Realty Group Trust during the third quarter than it did in the second quarter. The Oregon Public Employees Retirement Fund is the owner of 63,945 shares of the real estate investment trust’s stock, which has an estimated value of $1,000,000 after purchasing an additional 766 shares during the period in question. During the first three months of the year, Crossmark Global Holdings Inc. boosted the percentage of Kite Realty Group Trust shares that it owned by 4.7%. Crossmark Global Holdings Inc. now has a total ownership of 17,806 shares of the real estate investment trust’s stock, worth $405,000 after purchasing an additional 800 shares during the most recent quarter.
Last but not least, during the third quarter, Central Trust increased the percentage of Kite Realty Group Trust holdings that it had by 91.4%. Central Trust Company now has 1,675 shares of the real estate investment trust’s stock, valued at $29,000. This is a result of the company’s purchase of an additional 800 shares during the last quarter. Institutional investors and hedge funds own 95.73% of the company’s stock.
KRG stock has recently been the subject of commentary from several equity analysts. Bank of America moved Kite Realty Group Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $22.00 to $25.00 in a research report published on Wednesday, November 9. The price target that Robert W. Baird has set for Kite Realty Group Trust has increased from $25.00 to $26.00, as stated in a research note published on August 15. Citigroup moved Kite Realty Group Trust from a “neutral” rating to a “buy” rating and increased their price objective for the company from $20.00 to $22.00 in a research note published on Monday, September 19. StockNews.com gave Kite Realty Group Trust a “hold” rating in a research note published on November 4. Previously, the company had been given a “sell” rating. Piper Sandler increased their price objective on Kite Realty Group Trust to $25.00 in a research note released on Wednesday, November 16. Two financial experts have assigned the stock a rating of “hold,” while eight others have assigned it a rating of “buy,” and one has assigned it a rating of “strong buy.” According to the data on Bloomberg.com, Kite Realty Group Trust is presently rated as a “Moderate Buy,” and the company’s consensus price goal is $25.13.
Communities are provided with retail experiences that are both easy and advantageous thanks to Kite Realty Group Trust, which is a real estate investment trust (REIT) that provides complete service and is vertically integrated. Consumers and retailers in desired markets are connected to us through the portfolio of community, lifestyle, and neighborhood shopping complexes that we manage.