Kite Realty Group Trust (NYSE:KRG) to Issue Quarterly Dividend of $0.27

Kite Realty Group Trust (NYSE:KRG) announced a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Stockholders of record on Wednesday, April 9th will be given a dividend of 0.27 per share by the real estate investment trust on Wednesday, April 16th. This represents a $1.08 annualized dividend and a dividend yield of 4.70%. The ex-dividend date is Wednesday, April 9th.

Kite Realty Group Trust has a payout ratio of 225.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Kite Realty Group Trust to earn $2.11 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 51.2%.

Kite Realty Group Trust Trading Down 3.1 %

KRG opened at $22.96 on Thursday. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24. The stock has a market cap of $5.04 billion, a PE ratio of -574.00, a PEG ratio of 3.63 and a beta of 1.27. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average of $24.44 and a 200-day moving average of $25.49.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a negative return on equity of 0.28% and a negative net margin of 1.18%. Equities research analysts predict that Kite Realty Group Trust will post 2.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

KRG has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their target price for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Robert W. Baird lifted their price objective on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. decreased their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. KeyCorp raised their price objective on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company lowered their price target on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.13.

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.