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

Kite Realty Group Trust (NYSE:KRG) announced a quarterly dividend on Wednesday, October 30th,Wall Street Journal reports. Shareholders of record on Friday, January 10th will be paid a dividend of 0.27 per share by the real estate investment trust on Thursday, January 16th. This represents a $1.08 annualized dividend and a dividend yield of 4.53%. The ex-dividend date is Friday, January 10th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26.

Kite Realty Group Trust has a dividend payout ratio of 216.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Kite Realty Group Trust to earn $2.14 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 50.5%.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $23.85 on Wednesday. The firm has a market capitalization of $5.24 billion, a P/E ratio of -596.25, a PEG ratio of 3.81 and a beta of 1.29. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24. The company’s fifty day moving average is $26.36 and its two-hundred day moving average is $25.39. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on KRG shares. Jefferies Financial Group downgraded 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 research note on Thursday, January 2nd. Robert W. Baird boosted their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, KeyCorp lifted their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.43.

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.