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.

In related news, CEO John A. Kite sold 35,000 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $17.42, for a total value of $609,700.00. Following the sale, the chief executive officer now directly owns 68,588 shares in the company, valued at approximately $1,194,802.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.93% of the stock is owned by insiders.

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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Dividend History for Kite Realty Group Trust (NYSE:KRG)

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