Kite Realty Group Trust’s recent filing unveils that its Director Grimes Steven P unloaded Company’s shares for reported $1.0 million on Sep 16 ’24. In the deal valued at $26.80 per share,37,295 shares were sold. As a result of this transaction, Grimes Steven P now holds 732,252 shares worth roughly $18.97 million.
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Then, Grimes Steven P sold 21,500 shares, generating $509,550 in total proceeds. Upon selling the shares at $23.70, the Director now owns 763,314 shares.
Before that, Kite John A sold 60,000 shares. Kite Realty Group Trust shares valued at $1,314,600 were divested by the Chairman & CEO at a price of $21.91 per share. As a result of the transaction, Kite John A now holds 104,121 shares, worth roughly $2.7 million.
Wells Fargo upgraded its Kite Realty Group Trust [KRG] rating to an Equal weight from a an Underweight in a research note published on August 28, 2024; the price target was increased to $26 from $23. A number of analysts have revised their coverage, including Raymond James’s analysts, who increased its forecast for the stock in mid August from “a Mkt perform” to “a Strong buy”. Jefferies also remained covering KRG and has increased its forecast on April 18, 2024 with a “Buy” recommendation from previously “Hold” rating. Raymond James revised its rating on September 05, 2023. It rated KRG as “a Mkt perform” which previously was an “a Strong buy”.
Price Performance Review of KRG
On Monday, Kite Realty Group Trust [NYSE:KRG] saw its stock fall -2.04% to $25.90. Over the last five days, the stock has gained 1.29%. Kite Realty Group Trust shares have risen nearly 13.30% since the year began. Nevertheless, the stocks have risen 25.97% over the past one year. While a 52-week high of $27.15 was reached on 09/18/24, a 52-week low of $19.64 was recorded on 04/16/24. SMA at 50 days reached $25.89, while 200 days put it at $22.82.
Levels Of Support And Resistance For KRG Stock
The 24-hour chart illustrates a support level at 25.70, which if violated will result in even more drops to 25.50. On the upside, there is a resistance level at 26.25. A further resistance level may holdings at 26.60. The Relative Strength Index (RSI) on the 14-day chart is 49.05, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.21, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 52.61%. Stochastics %K at 59.56% indicates the stock is a holding.
How much short interest is there in Kite Realty Group Trust?
A steep rise in short interest was recorded in Kite Realty Group Trust stocks on 2024-09-30, dropping by -0.95 million shares to a total of 5.45 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 6.4 million shares. There was a decline of -17.36%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on May 24, 2023 when Wells Fargo began covering the stock and recommended ‘”an Underweight”‘ rating along with a $20 price target.
