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

Kite Realty Group Trust (NYSE:KRG - Get Free Report) announced a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Investors of record on Wednesday, April 9th will be paid 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 4.82%. The ex-dividend date is Wednesday, April 9th.

Kite Realty Group Trust has a 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 3.6 %

Shares of NYSE:KRG traded down $0.85 during trading on Friday, reaching $22.40. 3,816,868 shares of the stock were exchanged, compared to its average volume of 1,896,697. The stock has a fifty day moving average of $24.20 and a two-hundred day moving average of $25.45. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. 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 firm has a market cap of $4.92 billion, a price-to-earnings ratio of -559.88, a price-to-earnings-growth ratio of 3.63 and a beta of 1.27.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a negative net margin of 1.18% and a negative return on equity of 0.28%. Research analysts anticipate that Kite Realty Group Trust will post 2.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on KRG. Jefferies Financial Group lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating and lowered their price target for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. KeyCorp increased their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an "overweight" rating in a report on Tuesday, November 12th. Wells Fargo & Company cut their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. Robert W. Baird upped their price objective on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a "neutral" rating in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Kite Realty Group Trust has an average rating of "Hold" and an average price target of $28.13.

Kite Realty Group Trust Company Profile

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.