Citigroup Inc. (NYSE:C) has announced its intention to invest in low and moderate income housing projects in New York City.
Citigroup Inc. (NYSE:C) To Invest In NYC
A move announced yesterday by Citigroup Inc. (NYSE:C) will see more than $100 million invested in a range of low and moderate income housing in the Brooklyn, Bronx, Upper Manhattan and Queens areas of New York City, USA.
The plan is to target buildings which may have fallen into disrepair, due to landlords ignoring repairs in order to maximise their rental earnings.
Although the properties will provide an attractive medium term investment, Citigroup Inc. (NYSE:C) have said that they also wish to work towards the city’s goal of preserving affordable housing.
Citigroup Inc. (NYSE:C) stocks stood at 4.12 at the end of trading on 7/29/2010.
If you’re contemplating investing in Citigroup Inc. (NYSE:C) shares, make sure you make the trade at the right price. Finding a gap in the market or technical analysis is often a hard task, but do take into account the price history:
Last Price: 4.12
52 Week Low / High: 2.99 / 5.43
50 Day Moving Average: 3.92
6 Month Price Change %: 27.8%
12 Month Price Change %: 37.7%
We will continue checking the Citigroup Inc. (NYSE:C) stock price for changes over the next few weeks.