Citigroup Inc. Sells 32,242 Shares of Kite Realty Group Trust (NYSE:KRG)

Citigroup Inc. reduced its stake in shares of Kite Realty Group Trust (NYSE:KRG – Get Rating) by 20.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 129,020 shares of the real estate investment trust’s stock after selling 32,242 shares during the period. Citigroup Inc. owned approximately 0.06% of Kite Realty Group Trust worth $2,716,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in KRG. Accurate Wealth Management LLC bought a new stake in shares of Kite Realty Group Trust during the 4th quarter worth $27,000. CENTRAL TRUST Co lifted its holdings in shares of Kite Realty Group Trust by 91.4% during the 3rd quarter. CENTRAL TRUST Co now owns 1,675 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 800 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Kite Realty Group Trust by 7,854.2% during the 1st quarter. Covestor Ltd now owns 1,909 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 1,885 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in Kite Realty Group Trust in the fourth quarter worth $46,000. Finally, Harbor Investment Advisory LLC lifted its stake in Kite Realty Group Trust by 23.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 3,475 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 668 shares during the last quarter. 96.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on KRG. Wells Fargo & Company began coverage on shares of Kite Realty Group Trust in a research note on Tuesday. They issued an “underweight” rating for the company. JPMorgan Chase & Co. began coverage on shares of Kite Realty Group Trust in a research report on Monday, April 24th. They issued a “neutral” rating and a $23.00 price objective on the stock. Piper Sandler boosted their price objective on shares of Kite Realty Group Trust from $26.00 to $28.00 in a research report on Monday, May 8th. Finally, StockNews.com began coverage on shares of Kite Realty Group Trust in a research report on Thursday, May 18th. They issued a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.38.

Kite Realty Group Trust Price Performance

Shares of KRG opened at $20.31 on Wednesday. The stock has a market cap of $4.45 billion, a PE ratio of 677.23, a price-to-earnings-growth ratio of 1.98 and a beta of 1.37. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.92. Kite Realty Group Trust has a fifty-two week low of $16.42 and a fifty-two week high of $23.10. The firm’s 50-day simple moving average is $20.28 and its two-hundred day simple moving average is $21.08.

Kite Realty Group Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, July 7th will be paid a $0.24 dividend. The ex-dividend date is Thursday, July 6th. This represents a $0.96 annualized dividend and a dividend yield of 4.73%. Kite Realty Group Trust’s dividend payout ratio is presently 3,201.07%.

Kite Realty Group Trust Company Profile

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Kite Realty Group Trust operates as a real estate investment trust. It engages in the ownership, operation, acquisition, development, and redevelopment of neighborhood and community shopping centers in selected markets in the United States. The company was founded on August 16, 2004 and is headquartered in Indianapolis, IN.