Kite Realty Group Trust (NYSE:KRG) declared a quarterly dividend on Monday, August 14th, Wall Street Journal reports. Investors of record on Friday, October 6th will be given a dividend of 0.3025 per share by the real estate investment trust on Friday, October 13th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date is Thursday, October 5th.
Kite Realty Group Trust has raised its dividend payment by an average of 5.7% per year over the last three years and has raised its dividend every year for the last 3 years. Kite Realty Group Trust has a payout ratio of 59.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kite Realty Group Trust to earn $0.16 per share next year, which means the company may not be able to cover its $1.21 annual dividend with an expected future payout ratio of 756.3%.
Kite Realty Group Trust (KRG) traded up 2.52% on Monday, hitting $20.74. The company had a trading volume of 533,454 shares. The firm has a market capitalization of $1.73 billion, a PE ratio of 148.14 and a beta of 0.57. Kite Realty Group Trust has a 12-month low of $17.60 and a 12-month high of $29.62. The firm has a 50-day moving average price of $19.67 and a 200-day moving average price of $20.63.
Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $92.65 million for the quarter, compared to analyst estimates of $88.42 million. Kite Realty Group Trust had a return on equity of 0.73% and a net margin of 3.29%. Kite Realty Group Trust’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. On average, equities research analysts anticipate that Kite Realty Group Trust will post ($0.05) earnings per share for the current fiscal year.
Several analysts recently weighed in on KRG shares. Barclays PLC reduced their price objective on Kite Realty Group Trust from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 19th. BidaskClub raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Zacks Investment Research raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th. Finally, ValuEngine lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $26.86.
About Kite Realty Group Trust
Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.
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