Kite Realty Group Trust (KRG) To Go Ex-Dividend on October 9th

Kite Realty Group Trust (NYSE:KRG) announced a quarterly dividend on Tuesday, July 28th. Shareholders of record on Friday, October 9th will be paid a dividend of 0.29 per share by the real estate investment trust on Friday, October 16th. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, October 9th.

Kite Realty Group Trust has increased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Kite Realty Group Trust has a payout ratio of 313.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Kite Realty Group Trust to earn $2.19 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 53.0%.

Kite Realty Group Trust Stock Performance

Shares of KRG stock traded up $0.01 during trading on Thursday, hitting $28.86. The company’s stock had a trading volume of 3,335,579 shares, compared to its average volume of 2,089,408. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.05. The company has a market cap of $5.86 billion, a PE ratio of 21.70, a P/E/G ratio of 4.09 and a beta of 0.85. The business has a fifty day moving average of $28.39 and a 200-day moving average of $26.28. Kite Realty Group Trust has a 52 week low of $20.86 and a 52 week high of $29.92.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $200.70 million during the quarter, compared to the consensus estimate of $198.37 million. Kite Realty Group Trust had a net margin of 34.74% and a return on equity of 9.21%. As a group, research analysts anticipate that Kite Realty Group Trust will post 2.1 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company set a $32.00 target price on shares of Kite Realty Group Trust and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Kite Realty Group Trust in a research note on Wednesday, July 15th. LADENBURG THALM/SH SH upped their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Jefferies Financial Group raised shares of Kite Realty Group Trust to a “hold” rating in a report on Friday, June 26th. Finally, Wall Street Zen downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $29.43.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.