Hennion & Walsh Asset Management Inc. Sells 23,028 Shares of Kite Realty Group Trust $KRG

Hennion & Walsh Asset Management Inc. lessened its stake in Kite Realty Group Trust (NYSE:KRG) by 44.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,731 shares of the real estate investment trust’s stock after selling 23,028 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Kite Realty Group Trust were worth $641,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. grew its stake in shares of Kite Realty Group Trust by 54.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 462 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Kite Realty Group Trust during the 2nd quarter worth approximately $30,000. EverSource Wealth Advisors LLC boosted its stake in shares of Kite Realty Group Trust by 118.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 740 shares during the last quarter. Smallwood Wealth Investment Management LLC grew its holdings in shares of Kite Realty Group Trust by 57.9% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 641 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Kite Realty Group Trust by 103.0% during the second quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 1,323 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group restated a “neutral” rating and issued a $25.00 price objective (up previously from $24.00) on shares of Kite Realty Group Trust in a research note on Thursday. Jefferies Financial Group restated a “hold” rating and set a $24.00 price objective (up previously from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $23.00 to $25.00 in a research report on Tuesday, October 21st. Wall Street Zen downgraded shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Finally, Raymond James Financial cut shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.63.

Kite Realty Group Trust Stock Down 4.0%

Shares of NYSE KRG opened at $23.40 on Friday. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $24.54. The business has a 50-day simple moving average of $23.09 and a two-hundred day simple moving average of $22.60. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.93. The company has a market cap of $5.07 billion, a P/E ratio of 36.55, a P/E/G ratio of 5.90 and a beta of 0.89.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. The firm had revenue of $205.06 million for the quarter, compared to analysts’ expectations of $208.82 million. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.27%. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. Research analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 9th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 5.0%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 168.75%.

About Kite Realty Group Trust

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.