Citigroup Inc. Sells 8,699 Shares of Kite Realty Group Trust $KRG

Citigroup Inc. cut its position in shares of Kite Realty Group Trust (NYSE:KRG) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 296,238 shares of the real estate investment trust’s stock after selling 8,699 shares during the period. Citigroup Inc. owned about 0.13% of Kite Realty Group Trust worth $6,627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of KRG. Smallwood Wealth Investment Management LLC bought a new position in shares of Kite Realty Group Trust in the 1st quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in shares of Kite Realty Group Trust in the 1st quarter worth $25,000. Optiver Holding B.V. raised its position in shares of Kite Realty Group Trust by 19.9% in the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 467 shares in the last quarter. CX Institutional bought a new position in shares of Kite Realty Group Trust in the 1st quarter worth $79,000. Finally, GF Fund Management CO. LTD. bought a new position in shares of Kite Realty Group Trust in the 4th quarter worth $101,000. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Stock Up 0.3%

Shares of KRG stock opened at $21.51 on Monday. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-year high of $28.24. The stock’s fifty day moving average price is $22.38 and its 200 day moving average price is $22.20. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 6.52 and a beta of 1.16.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $211.18 million for the quarter, compared to the consensus estimate of $211.74 million. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. On average, research analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 5.0%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust’s payout ratio is presently 136.71%.

Analyst Ratings Changes

Several research firms have recently commented on KRG. UBS Group began coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 price target for the company. Wall Street Zen lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Piper Sandler reissued a “neutral” rating and issued a $24.00 price target (down from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Finally, Raymond James Financial reduced their price target on Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Friday, May 23rd. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Hold” and a consensus price target of $27.11.

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.