Hennion & Walsh Asset Management Inc. Has $641,000 Position in Kite Realty Group Trust $KRG

Hennion & Walsh Asset Management Inc. trimmed its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 44.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

Several other large investors have also recently bought and sold shares of KRG. Vanderbilt University boosted its holdings in shares of Kite Realty Group Trust by 1.7% during the third quarter. Vanderbilt University now owns 39,485 shares of the real estate investment trust’s stock worth $881,000 after acquiring an additional 659 shares during the period. Smallwood Wealth Investment Management LLC grew its holdings in Kite Realty Group Trust by 57.9% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 641 shares in the last quarter. Blue Trust Inc. increased its position in Kite Realty Group Trust by 46.3% during the 3rd quarter. Blue Trust Inc. now owns 4,350 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 1,377 shares during the period. CWM LLC boosted its position in shares of Kite Realty Group Trust by 17.9% in the third quarter. CWM LLC now owns 4,254 shares of the real estate investment trust’s stock valued at $95,000 after acquiring an additional 647 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in shares of Kite Realty Group Trust in the third quarter valued at about $1,009,000. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock opened at $23.40 on Friday. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 5.90 and a beta of 0.89. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.93. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $24.54. The company’s fifty day moving average is $23.09 and its 200 day moving average is $22.60.

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

Kite Realty Group Trust Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KRG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kite Realty Group Trust in a report on Monday, December 29th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $23.00 to $25.00 in a research report on Tuesday, October 21st. Raymond James Financial cut shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 11th. UBS Group reiterated a “neutral” rating and set a $25.00 price target (up previously from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday. Finally, Wall Street Zen lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.63.

Kite Realty Group Trust Company Profile

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.