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

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 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 4.70%. The ex-dividend date of this dividend is Wednesday, April 9th.

Kite Realty Group Trust has a payout ratio of 225.0% indicating that 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 $2.11 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 3.1 %

Shares of Kite Realty Group Trust stock traded down $0.74 during trading hours on Wednesday, reaching $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 market capitalization of $5.04 billion, a P/E ratio of -574.00, a P/E/G ratio of 3.63 and a beta of 1.27. The stock’s fifty day simple moving average is $24.44 and its two-hundred day simple moving average is $25.49. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating 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%. On average, research analysts forecast that Kite Realty Group Trust will post 2.06 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on KRG. Robert W. Baird lifted their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. KeyCorp upped their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Wells Fargo & Company dropped 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 research report on Wednesday, January 29th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price target for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Kite Realty Group Trust presently has an average rating of “Moderate Buy” and an average 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.