Hennion & Walsh Asset Management Inc. Sells 823 Shares of Kite Realty Group Trust (NYSE:KRG)

Hennion & Walsh Asset Management Inc. reduced its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 2.6% during the 1st quarter, HoldingsChannel reports. The fund owned 30,740 shares of the real estate investment trust’s stock after selling 823 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Kite Realty Group Trust were worth $666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Pineridge Advisors LLC bought a new position in shares of Kite Realty Group Trust during the 4th quarter valued at approximately $39,000. Wolverine Asset Management LLC raised its stake in shares of Kite Realty Group Trust by 280.5% in the fourth quarter. Wolverine Asset Management LLC now owns 1,800 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 1,327 shares during the period. Blue Trust Inc. raised its stake in shares of Kite Realty Group Trust by 41.7% in the fourth quarter. Blue Trust Inc. now owns 2,523 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 742 shares during the period. Creekmur Asset Management LLC bought a new stake in shares of Kite Realty Group Trust in the 4th quarter worth about $107,000. Finally, VitalStone Financial LLC purchased a new position in shares of Kite Realty Group Trust during the 3rd quarter worth about $161,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Trading Up 0.2 %

Shares of NYSE KRG opened at $22.26 on Wednesday. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $24.26. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.90. The business has a fifty day simple moving average of $21.59 and a two-hundred day simple moving average of $21.55. The firm has a market cap of $4.89 billion, a PE ratio of 85.62, a price-to-earnings-growth ratio of 5.65 and a beta of 1.31.

Kite Realty Group Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Tuesday, July 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend is Tuesday, July 9th. Kite Realty Group Trust’s payout ratio is 384.63%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Kite Realty Group Trust from $22.00 to $23.00 and gave the company an “underweight” rating in a research report on Tuesday, May 28th. Jefferies Financial Group upgraded shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.00.

About Kite Realty Group Trust

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.