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

Citigroup Inc. raised its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 58.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 227,242 shares of the real estate investment trust's stock after acquiring an additional 83,963 shares during the quarter. Citigroup Inc. owned approximately 0.10% of Kite Realty Group Trust worth $6,036,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State of Alaska Department of Revenue boosted its holdings in shares of Kite Realty Group Trust by 0.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust's stock valued at $3,408,000 after buying an additional 484 shares in the last quarter. Marcum Wealth LLC increased its stake in Kite Realty Group Trust by 1.4% during the 3rd quarter. Marcum Wealth LLC now owns 40,855 shares of the real estate investment trust's stock valued at $1,085,000 after purchasing an additional 571 shares in the last quarter. Legacy Wealth Asset Management LLC raised its holdings in shares of Kite Realty Group Trust by 2.9% in the third quarter. Legacy Wealth Asset Management LLC now owns 23,688 shares of the real estate investment trust's stock worth $629,000 after buying an additional 671 shares during the last quarter. United Services Automobile Association lifted its stake in shares of Kite Realty Group Trust by 4.6% during the second quarter. United Services Automobile Association now owns 17,781 shares of the real estate investment trust's stock worth $398,000 after buying an additional 777 shares during the period. Finally, First Trust Direct Indexing L.P. increased its position in shares of Kite Realty Group Trust by 4.2% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 22,400 shares of the real estate investment trust's stock valued at $595,000 after acquiring an additional 910 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KRG has been the subject of a number of research reports. Compass Point lifted their price target on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Piper Sandler lifted their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, September 3rd. Raymond James upgraded Kite Realty Group Trust from a "market perform" rating to a "strong-buy" rating and set a $28.00 target price on the stock in a research report on Friday, August 16th. Wells Fargo & Company raised shares of Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Finally, Robert W. Baird upped their price objective on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a "neutral" rating in a report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Kite Realty Group Trust has an average rating of "Moderate Buy" and an average target price of $28.86.

Insider Transactions at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company's stock.

Kite Realty Group Trust Stock Performance

Shares of KRG traded down $0.44 during trading hours on Monday, hitting $27.13. The stock had a trading volume of 1,306,324 shares, compared to its average volume of 1,585,953. The firm has a 50-day moving average price of $26.52 and a 200 day moving average price of $24.67. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of -678.25, 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.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.98%. This is an increase from Kite Realty Group Trust's previous quarterly dividend of $0.26. Kite Realty Group Trust's dividend payout ratio is -2,700.00%.

Kite Realty Group Trust Company 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.