Kite Realty Group Trust (KRG) Sees Unusually-High Trading Volume
Kite Realty Group Trust (NYSE:KRG) shares saw unusually-strong trading volume on Tuesday . Approximately 541,728 shares were traded during mid-day trading, an increase of 33% from the previous session’s volume of 406,214 shares.The stock last traded at $28.90 and had previously closed at $29.11.
A number of analysts have recently weighed in on KRG shares. Zacks Investment Research cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. BTIG Research started coverage on shares of Kite Realty Group Trust in a research note on Thursday, August 25th. They issued a “buy” rating and a $35.00 price objective for the company. Barclays PLC started coverage on shares of Kite Realty Group Trust in a research note on Friday, July 22nd. They issued an “overweight” rating and a $33.00 price objective for the company. Finally, Hilliard Lyons cut shares of Kite Realty Group Trust from a “buy” rating to a “neutral” rating in a research note on Monday, August 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Kite Realty Group Trust has an average rating of “Buy” and a consensus target price of $32.00.
The stock has a 50-day moving average price of $29.13 and a 200 day moving average price of $27.84. The company has a market cap of $2.42 billion and a price-to-earnings ratio of 580.20.
Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The company had revenue of $87.58 million for the quarter, compared to the consensus estimate of $87.30 million. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.49 EPS. On average, equities research analysts expect that Kite Realty Group Trust will post $2.06 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Thursday, October 6th will be given a $0.2875 dividend. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $1.15 annualized dividend and a yield of 3.96%.
In other Kite Realty Group Trust news, CAO Thomas R. Olinger sold 5,500 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $30.22, for a total value of $166,210.00. Following the transaction, the chief accounting officer now owns 11,540 shares of the company’s stock, valued at $348,738.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Daniel R. Sink sold 16,625 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $29.95, for a total value of $497,918.75. Following the completion of the transaction, the vice president now directly owns 84,498 shares in the company, valued at approximately $2,530,715.10. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Kite Realty Group Trust stock. Morgan Stanley boosted its position in shares of Kite Realty Group Trust (NYSE:KRG) by 61.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 510,976 shares of the company’s stock after buying an additional 194,074 shares during the period. Morgan Stanley owned approximately 0.61% of Kite Realty Group Trust worth $13,250,000 at the end of the most recent quarter.
Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary Kite Realty Group, L.P., holds interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in certain markets in the United States.
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