Citigroup Inc. Raises Stake in Kite Realty Group Trust (NYSE:KRG)

Citigroup Inc. boosted its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 58.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 227,242 shares of the real estate investment trust’s stock after buying an additional 83,963 shares during the quarter. Citigroup Inc. owned 0.10% of Kite Realty Group Trust worth $6,036,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KRG. UMB Bank n.a. boosted its stake in shares of Kite Realty Group Trust by 819.0% in the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 950 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Kite Realty Group Trust in the third quarter valued at approximately $45,000. GAMMA Investing LLC boosted its position in Kite Realty Group Trust by 158.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,204 shares in the last quarter. Quarry LP grew its stake in shares of Kite Realty Group Trust by 108.4% during the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,167 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Kite Realty Group Trust by 42.7% during the 2nd quarter. Blue Trust Inc. now owns 3,314 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 992 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the sale, the director now owns 732,252 shares in the company, valued at approximately $19,624,353.60. This represents a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by insiders.

Kite Realty Group Trust Price Performance

Shares of Kite Realty Group Trust stock opened at $27.57 on Monday. The stock has a market capitalization of $6.06 billion, a P/E ratio of -689.25, a PEG ratio of 3.83 and a beta of 1.29. The business has a 50 day simple moving average of $26.51 and a two-hundred day simple moving average of $24.63. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $28.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be paid a $0.27 dividend. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Thursday, January 9th. Kite Realty Group Trust’s dividend payout ratio is currently -2,700.00%.

Analyst Ratings Changes

KRG has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research note on Friday, August 16th. KeyCorp lifted their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Finally, Compass Point boosted their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.86.

Kite Realty Group Trust Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.