Hennion & Walsh Asset Management Inc. Raises Stake in Kite Realty Group Trust (NYSE:KRG)

Hennion & Walsh Asset Management Inc. lifted its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 53.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,793 shares of the real estate investment trust's stock after buying an additional 16,330 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Kite Realty Group Trust were worth $1,181,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Kite Realty Group Trust by 0.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,141 shares of the real estate investment trust's stock valued at $2,554,000 after buying an additional 483 shares during the period. State of Alaska Department of Revenue boosted its holdings in Kite Realty Group Trust by 0.4% in the third quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust's stock valued at $3,408,000 after purchasing an additional 484 shares during the period. Marcum Wealth LLC grew its stake in Kite Realty Group Trust by 1.4% during the 3rd quarter. Marcum Wealth LLC now owns 40,855 shares of the real estate investment trust's stock worth $1,085,000 after purchasing an additional 571 shares in the last quarter. GAMMA Investing LLC raised its position in Kite Realty Group Trust by 15.8% in the 4th quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust's stock valued at $121,000 after purchasing an additional 652 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake in shares of Kite Realty Group Trust by 2.9% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 23,688 shares of the real estate investment trust's stock valued at $629,000 after buying an additional 671 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KRG shares. KeyCorp raised their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an "overweight" rating in a report on Tuesday, November 12th. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and lowered their target price for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Robert W. Baird raised their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. decreased their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $29.13.

Kite Realty Group Trust Stock Performance

NYSE:KRG traded up $0.10 during mid-day trading on Monday, reaching $23.34. 2,349,386 shares of the stock were exchanged, compared to its average volume of 1,383,322. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. The company has a 50 day simple moving average of $25.77 and a 200-day simple moving average of $25.46. The stock has a market capitalization of $5.13 billion, a P/E ratio of -583.58, a P/E/G ratio of 3.17 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, January 10th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.63%. This is a boost from Kite Realty Group Trust's previous quarterly dividend of $0.26. The ex-dividend date was Friday, January 10th. Kite Realty Group Trust's payout ratio is presently -2,700.00%.

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.