Citigroup Inc. Decreases Stock Holdings in Kite Realty Group Trust $KRG

Citigroup Inc. decreased its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 44.8% during the third quarter, Holdings Channel reports. The firm owned 172,524 shares of the real estate investment trust’s stock after selling 140,035 shares during the quarter. Citigroup Inc.’s holdings in Kite Realty Group Trust were worth $3,847,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KRG. Harbor Capital Advisors Inc. raised its stake in Kite Realty Group Trust by 54.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 462 shares during the last quarter. First Horizon Corp bought a new stake in shares of Kite Realty Group Trust in the third quarter worth $30,000. EverSource Wealth Advisors LLC increased its position in Kite Realty Group Trust by 118.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 740 shares during the last quarter. Smallwood Wealth Investment Management LLC lifted its holdings in Kite Realty Group Trust by 57.9% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 641 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in Kite Realty Group Trust by 21.4% in the third quarter. Versant Capital Management Inc now owns 3,085 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 544 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $25.92 on Thursday. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 18.78, a P/E/G ratio of 6.53 and a beta of 0.86. The firm has a fifty day moving average price of $24.38 and a 200 day moving average price of $23.19. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $26.38. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.74 and a current ratio of 0.74.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, April 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.5%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 84.06%.

Wall Street Analysts Forecast Growth

KRG has been the subject of a number of recent research reports. Raymond James Financial downgraded Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, November 11th. Wall Street Zen raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Jefferies Financial Group reaffirmed a “hold” rating and set a $24.00 target price (up from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th. Robert W. Baird increased their price target on shares of Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Finally, Citigroup reissued a “neutral” rating and set a $27.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a research report on Tuesday, February 24th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Kite Realty Group Trust currently has an average rating of “Hold” and a consensus target price of $26.00.

Kite Realty Group Trust Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.