The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Kite Realty Group Trust shares valued at $509,550 were sold by Grimes Steven P on Dec 14 ’23. At $23.70 per share, Grimes Steven P sold 21,500 shares. The insider’s holdings dropped to 763,314 shares worth approximately $15.69 million following the completion of this transaction.
Also, Kite John A sold 60,000 shares, netting a total of over 1,314,600 in proceeds. Following the sale of shares at $21.91 each, the insider now holds 104,121 shares.
Before that, WURTZEBACH CHARLES H had sold 255 shares from its account. In a trade valued at $5,383, the Director traded Kite Realty Group Trust shares for $21.11 each. Upon closing the transaction, the insider’s holdings decreased to 255 shares, worth approximately $1.27 million.
As published in a research note from Jefferies on April 18, 2024, Kite Realty Group Trust [KRG] has been rated up from a Hold to a Buy and the price target has been revised to $23. Analysts at Raymond James downgraded the stock from ‘”a Strong buy”‘ to ‘”a Mkt perform”‘ outlook in a report released in early September. As of May 24, 2023, Wells Fargo has initiated its “an Underweight” rating for KRG. Earlier on April 24, 2023, JP Morgan initiated its rating. Their recommendation was “a Neutral” for KRG stock.
Analyzing KRG Stock Performance
During the last five days, there has been a surge of approximately 1.88%. Over the course of the year, Kite Realty Group Trust shares have dropped approximately -10.06%. Shares of the company reached a 52-week high of $23.10 on 01/02/24 and a 52-week low of $19.64 on 04/16/24. A 50-day SMA is recorded $21.03, while a 200-day SMA reached $21.74. Nevertheless, trading volume fell to 2.53 million shares from 2.91 million shares the previous day.
Support And Resistance Levels for Kite Realty Group Trust (KRG)
According to the 24-hour chart, there is a support level at 20.29, which, if violated, would cause prices to drop to 20.02. In the upper region, resistance lies at 20.72. The next price resistance is at 20.88. RSI (Relative Strength Index) is 48.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.25, which suggests the price will decrease in the coming days. Percent R is at 56.37%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
