Kite Realty Group Trust (KRG) Declares Quarterly Dividend of $0.32
Kite Realty Group Trust (NYSE:KRG) announced a quarterly dividend on Wednesday, November 21st, Wall Street Journal reports. Investors of record on Friday, January 4th will be given a dividend of 0.3175 per share by the real estate investment trust on Friday, January 11th. This represents a $1.27 annualized dividend and a dividend yield of 8.04%. The ex-dividend date is Thursday, January 3rd.
Kite Realty Group Trust has increased its dividend payment by an average of 5.9% per year over the last three years and has increased its dividend every year for the last 4 years. Kite Realty Group Trust has a payout ratio of 63.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Kite Realty Group Trust to earn $1.94 per share next year, which means the company should continue to be able to cover its $1.27 annual dividend with an expected future payout ratio of 65.5%.
Kite Realty Group Trust stock opened at $15.79 on Thursday. Kite Realty Group Trust has a 52 week low of $13.87 and a 52 week high of $20.24. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $1.32 billion, a P/E ratio of 7.74, a price-to-earnings-growth ratio of 2.00 and a beta of 0.50.
KRG has been the topic of several recent research reports. Robert W. Baird lowered shares of Kite Realty Group Trust from an “outperform” rating to a “neutral” rating and set a $17.00 price objective on the stock. in a research report on Wednesday, October 24th. Zacks Investment Research upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Citigroup boosted their price objective on shares of Kite Realty Group Trust from $16.50 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, August 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $17.83.
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Kite Realty Group Trust Company Profile
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of open-air shopping centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders.
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