Dallas, Texas 12/30/2013 (FIANACIALSTRENDS) – Kite Realty Group Trust (NYSE:KRG) is an $854 million market capped real estate investment firm which has been gaining strength as the reality sector has rebounded in U.S over the past one quarter. This rebound in potential has been reflected in the stock performance. Kite Realty Group Trust (NYSE:KRG) stock has managed to post gains of 10.47 percent in the three months. It occupies two broad business units. These are “real estate operations/development activities and consultancy services.
On the back of this strong rebound in the market valuation of the stock of Kite Realty Group Trust (NYSE:KRG), its Chief Executive John Kite has sold 50,000 shares of his stock on December 23. He realized close to $6.55 per share and took home a total of $0.32 million. With this sale, the CEO owns only 301,540 shares of the stock which adds up to total of $1.97 million.
In a similar move, Kite Realty Group Trust (NYSE:KRG) Chief Operating Officer Thomas Mcgowan also sold off close to 133,560 shares on the same day. He realized a slightly lesser price of $6.50 and accrued a substantive $0.86 million. Post this sale, the COO has ownership of 240,574 shares which translates to a $1.56 million.
Readers should note that rating agency Wells Fargo & Co has upgraded the stock of Kite Realty Group Trust (NYSE:KRG) to a market perform rating. The stock has also seen its price target to $7.5 per share by another rating agency Raymond James to co-inside with outperform rating upgrade on the stock. Readers should note that in the past one year, the stock has risen by 24 percent. At yesterday’s price point of $6.54 per share is 4.8 per share down from its prior 52 week price point. Its investors would be hoping that the company stock would continue to grow at the same pace.