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

Kite Realty Group Trust (NYSE:KRG) CEO John Kite sold 34,492 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $506,624.49. The trade was a 63.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Kite Realty Group Trust Trading Down 0.4%

KRG traded down $0.11 during midday trading on Friday, hitting $25.58. The company’s stock had a trading volume of 1,555,542 shares, compared to its average volume of 2,144,970. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.02. The firm has a market cap of $5.06 billion, a P/E ratio of 15.79, a PEG ratio of 4.67 and a beta of 0.90. The firm has a 50-day moving average price of $25.01 and a two-hundred day moving average price of $26.17. Kite Realty Group Trust has a 52-week low of $21.89 and a 52-week high of $29.92.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Friday, October 30th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.15). The company had revenue of $190.28 million for the quarter, compared to analysts’ expectations of $195.62 million. Kite Realty Group Trust had a return on equity of 11.78% and a net margin of 42.95%. On average, 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 business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Saturday, January 9th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, January 8th. This represents a $1.16 annualized dividend and a yield of 4.5%. Kite Realty Group Trust’s dividend payout ratio is 71.60%.

Institutional Trading of Kite Realty Group Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Root Financial Partners LLC purchased a new position in Kite Realty Group Trust in the third quarter valued at approximately $26,000. Ameritas Advisory Services LLC purchased a new stake in Kite Realty Group Trust during the second quarter worth approximately $37,000. Fulcrum Asset Management LLP increased its position in shares of Kite Realty Group Trust by 3,419.0% in the third quarter. Fulcrum Asset Management LLP now owns 1,478 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 1,436 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Kite Realty Group Trust by 44.4% in the first quarter. Bessemer Group Inc. now owns 1,519 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 467 shares in the last quarter. Finally, DiPaolo Financial Group Inc. acquired a new stake in shares of Kite Realty Group Trust in the third quarter worth $43,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group lifted their price target on shares of Kite Realty Group Trust from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday. National Bank Financial set a $28.00 price objective on shares of Kite Realty Group Trust in a research note on Friday. Bank of America downgraded Kite Realty Group Trust from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $31.00 to $28.00 in a report on Friday. Ladenburg Thalmann & Co. Inc. increased their target price on Kite Realty Group Trust from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $27.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a report on Monday, October 12th. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Kite Realty Group Trust presently has a consensus rating of “Hold” and an average price target of $27.91.

About Kite Realty Group Trust

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.