Hennion & Walsh Asset Management Inc. Acquires 12,696 Shares of Kite Realty Group Trust (NYSE:KRG)

Hennion & Walsh Asset Management Inc. increased its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 27.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,489 shares of the real estate investment trust's stock after purchasing an additional 12,696 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Kite Realty Group Trust were worth $1,331,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Optiver Holding B.V. grew 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 valued at $71,000 after buying an additional 467 shares during the last quarter. Arizona State Retirement System increased its position in shares of Kite Realty Group Trust by 0.8% during the fourth quarter. Arizona State Retirement System now owns 63,750 shares of the real estate investment trust's stock worth $1,609,000 after purchasing an additional 516 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Kite Realty Group Trust by 1.8% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 32,178 shares of the real estate investment trust's stock valued at $806,000 after purchasing an additional 556 shares during the last quarter. FIL Ltd boosted its position in shares of Kite Realty Group Trust by 19.8% in the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock valued at $88,000 after purchasing an additional 579 shares during the period. Finally, IHT Wealth Management LLC boosted its position in shares of Kite Realty Group Trust by 3.3% in the 4th quarter. IHT Wealth Management LLC now owns 18,489 shares of the real estate investment trust's stock valued at $467,000 after purchasing an additional 582 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on KRG. Wall Street Zen upgraded Kite Realty Group Trust from a "hold" rating to a "buy" rating in a research note on Friday. Piper Sandler reissued a "neutral" rating and issued a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Raymond James lowered their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research report on Friday, May 23rd. Finally, Wells Fargo & Company dropped their price target on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $27.63.

Kite Realty Group Trust Stock Up 0.9%

KRG stock traded up $0.21 during midday trading on Tuesday, hitting $22.85. 1,699,362 shares of the company's stock were exchanged, compared to its average volume of 1,697,823. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 12-month low of $18.52 and a 12-month high of $28.24. The firm has a 50 day moving average price of $21.75 and a 200-day moving average price of $23.13. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 1,142.25, a price-to-earnings-growth ratio of 3.57 and a beta of 1.11.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. The company had revenue of $221.76 million for the quarter, compared to analyst estimates of $211.07 million. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. On average, analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.73%. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 1,542.86%.

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.