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

Kite Realty Group Trust (NYSE:KRG) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Wednesday, April 9th.

Kite Realty Group Trust has a dividend 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. Research 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 Stock Down 3.1 %

KRG opened at $22.96 on Thursday. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $28.24. The stock has a market capitalization of $5.04 billion, a P/E ratio of -574.00, a P/E/G ratio of 3.63 and a beta of 1.27. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. The business has a 50 day simple moving average of $24.44 and a 200-day simple moving average of $25.49.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping 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%. On average, equities analysts anticipate that Kite Realty Group Trust will post 2.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. KeyCorp increased their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Wells Fargo & Company decreased their price objective on shares of 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. Robert W. Baird upped their price target on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 15th. JPMorgan Chase & Co. cut their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, Jefferies Financial Group cut shares of 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 report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.13.

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.