Citigroup Inc. Reduces Position in Kite Realty Group Trust $KRG

Citigroup Inc. trimmed its position in Kite Realty Group Trust (NYSE:KRG) by 44.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,524 shares of the real estate investment trust’s stock after selling 140,035 shares during the quarter. Citigroup Inc. owned 0.08% of Kite Realty Group Trust worth $3,847,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KRG. Harbor Capital Advisors Inc. increased its position in shares of Kite Realty Group Trust by 54.8% in the third quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 462 shares during the period. First Horizon Corp bought a new stake in shares of Kite Realty Group Trust in the third quarter worth about $30,000. EverSource Wealth Advisors LLC increased its holdings in Kite Realty Group Trust by 118.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 740 shares during the period. Smallwood Wealth Investment Management LLC raised its position in Kite Realty Group Trust by 57.9% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 641 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Kite Realty Group Trust by 21.4% during the 3rd quarter. Versant Capital Management Inc now owns 3,085 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 544 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Price Performance

Shares of KRG opened at $25.92 on Thursday. The company has a market capitalization of $5.36 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 6.53 and a beta of 0.86. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average of $24.38 and a 200 day moving average of $23.19. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $26.38.

Kite Realty Group Trust Dividend Announcement

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

Analysts Set New Price Targets

KRG has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price objective on 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. Wall Street Zen upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Jefferies Financial Group reissued a “hold” rating and set a $24.00 price objective (up from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. Raymond James Financial lowered shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th. Finally, UBS Group reaffirmed a “neutral” rating and set a $25.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a research note on Thursday, January 8th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Kite Realty Group Trust presently has a consensus rating of “Hold” and an average target price of $26.00.

Kite Realty Group Trust Company 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.