Kite Realty Group Trust (NYSE:KRG) Shares Acquired by Citigroup Inc.

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

A number of other hedge funds have also modified their holdings of KRG. UMB Bank n.a. raised its position in Kite Realty Group Trust by 819.0% in the 3rd quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 950 shares in the last quarter. GAMMA Investing LLC lifted its position in Kite Realty Group Trust by 158.2% in the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 1,204 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 $45,000. Quarry LP grew its holdings in shares of Kite Realty Group Trust by 108.4% during the second 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 last quarter. Finally, Blue Trust Inc. increased its position in shares of Kite Realty Group Trust by 42.7% during the second quarter. Blue Trust Inc. now owns 3,314 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 992 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KRG has been the subject of several research analyst reports. Robert W. Baird increased their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 15th. 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 research note on Tuesday, September 3rd. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. Compass Point increased their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.86.

Insider Activity at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the transaction, the director now directly owns 732,252 shares of the company’s stock, valued at $19,624,353.60. This trade represents a 4.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by insiders.

Kite Realty Group Trust Stock Down 1.0 %

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

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be issued a dividend of $0.27 per share. This is a boost 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 is Thursday, January 9th. Kite Realty Group Trust’s dividend payout ratio is currently -2,700.00%.

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.