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

Kite Realty Group Trust (NYSE:KRG) announced 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 annualized dividend 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. Equities 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 Price Performance

Shares of KRG traded down $0.74 during midday trading on Wednesday, hitting $22.96. The company’s stock had a trading volume of 3,410,812 shares, compared to its average volume of 1,962,842. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of -574.00, a price-to-earnings-growth ratio of 3.63 and a beta of 1.27. The company’s fifty day simple moving average is $24.44 and its two-hundred day simple moving average is $25.49.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results 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%. As a group, equities analysts expect that Kite Realty Group Trust will post 2.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KRG. KeyCorp increased their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Wells Fargo & Company decreased 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 research note on Wednesday, January 29th. Robert W. Baird lifted their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note 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 for the company in a research report on Wednesday, January 15th. Finally, Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their price target for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.