Kite Realty Group Trust (NYSE:KRG) Stock: Insider John Kite Sells 34,492 Shares

Kite Realty Group Trust (NYSE:KRG) CEO John Kite sold 34,492 shares of Kite Realty Group Trust stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $25.81, for a total value of $890,238.52. Following the completion of the sale, the chief executive officer directly owned 19,629 shares of the company’s stock, valued at approximately $506,624.49. The trade was a 63.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG traded down $0.11 during trading on Friday, reaching $25.58. 1,555,542 shares of the company traded hands, compared to its average volume of 2,054,375. The firm has a 50 day simple moving average of $25.00 and a 200-day simple moving average of $26.18. Kite Realty Group Trust has a 52-week low of $21.89 and a 52-week high of $29.92. The stock has a market capitalization of $5.06 billion, a PE ratio of 15.79, a P/E/G ratio of 4.66 and a beta of 0.90. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.02.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Friday, October 30th. The real estate investment trust reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.15). The company had revenue of $190.28 million during the quarter, compared to the consensus estimate of $195.62 million. Kite Realty Group Trust had a return on equity of 11.78% and a net margin of 42.95%. Equities research analysts anticipate that Kite Realty Group Trust will post 2.10 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Saturday, January 9th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, January 8th. This represents a $1.16 annualized dividend and a dividend yield of 4.5%. Kite Realty Group Trust’s payout ratio is presently 71.60%.

Institutional Trading of Kite Realty Group Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jump Financial LLC raised its stake in shares of Kite Realty Group Trust by 87.8% in the third quarter. Jump Financial LLC now owns 22,294 shares of the real estate investment trust’s stock worth $544,000 after buying an additional 10,422 shares during the period. EP Wealth Advisors LLC lifted its stake in shares of Kite Realty Group Trust by 3.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 11,019 shares of the real estate investment trust’s stock valued at $268,000 after buying an additional 399 shares in the last quarter. Marshall Wace LLP boosted its holdings in Kite Realty Group Trust by 2,472.6% in the 3rd quarter. Marshall Wace LLP now owns 795,683 shares of the real estate investment trust’s stock worth $19,407,000 after buying an additional 764,754 shares during the period. Bleakley Financial Group LLC boosted its holdings in Kite Realty Group Trust by 70.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 19,477 shares of the real estate investment trust’s stock worth $475,000 after buying an additional 8,077 shares during the period. Finally, DiPaolo Financial Group Inc. purchased a new stake in Kite Realty Group Trust in the 3rd quarter worth $43,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on KRG. KeyCorp downgraded Kite Realty Group Trust from an “overweight” rating to a “sector weight” rating in a report on Tuesday, August 18th. JPMorgan Chase & Co. downgraded shares of Kite Realty Group Trust from a “neutral” rating to an “underweight” rating and set a $27.00 price objective on the stock. in a report on Thursday, September 24th. Truist Financial set a $27.00 target price on shares of Kite Realty Group Trust and gave the company a “hold” rating in a research report on Thursday, October 1st. UBS Group boosted their target price on shares of Kite Realty Group Trust from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Bank of America cut shares of Kite Realty Group Trust from a “buy” rating to a “neutral” rating and reduced their target price for the company from $31.00 to $28.00 in a report on Friday. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.91.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust is a real estate investment trust that owns, operates, and develops open-air shopping centers and mixed-use properties. Its portfolio includes neighborhood and community centers, many of which are anchored by grocery stores and other essential retailers. The company leases space to retailers and service businesses and works to manage, maintain, and redevelop its properties. Its centers serve communities in Sun Belt markets and other selected regions across the United States.