Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Kite Realty Group Trust shares valued at $999,506 were sold by Grimes Steven P on Sep 16 ’24. At $26.80 per share, Grimes Steven P sold 37,295 shares. The insider’s holdings dropped to 732,252 shares worth approximately $19.91 million following the completion of this transaction.
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Also, Grimes Steven P sold 21,500 shares, netting a total of over 509,550 in proceeds. Following the sale of shares at $23.70 each, the insider now holds 763,314 shares.
Before that, Kite John A had sold 60,000 shares from its account. In a trade valued at $1,314,600, the Chairman & CEO traded Kite Realty Group Trust shares for $21.91 each. Upon closing the transaction, the insider’s holdings decreased to 60,000 shares, worth approximately $2.83 million.
As published in a research note from Wells Fargo on August 28, 2024, Kite Realty Group Trust [KRG] has been rated up from an Underweight to an Equal weight and the price target has been revised to $26 from $23. Analysts at Raymond James upgraded the stock from ‘”a Mkt perform”‘ to ‘”a Strong buy”‘ outlook in a report released in mid August. As of April 18, 2024, Jefferies has increased its “Hold” rating to a “Buy” for KRG. Earlier on September 05, 2023, Raymond James downgraded its rating. Their new recommendation was “a Mkt perform” for KRG stock which previously was a “a Strong buy”.
Analyzing KRG Stock Performance
During the last five days, there has been a surge of approximately 1.30%. Over the course of the year, Kite Realty Group Trust shares have jumped approximately 18.94%. Shares of the company reached a 52-week high of $27.94 on 11/06/24 and a 52-week low of $19.64 on 04/16/24. A 50-day SMA is recorded $26.39, while a 200-day SMA reached $23.38. Nevertheless, trading volume fell to 1.75 million shares from 0.91 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 27.08, which, if violated, would cause prices to drop to 26.97. In the upper region, resistance lies at 27.30. The next price resistance is at 27.40. RSI (Relative Strength Index) is 58.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.15, which suggests the price will decrease in the coming days. Percent R is at 35.55%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
