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

Key Points

• Kite Realty Group Trust will pay a quarterly dividend of $0.27 per share on October 16th, with a yield of 4.9%, and an ex-dividend date set for October 9th.
• The company has a high payout ratio of 291.9%, indicating reliance on its balance sheet for dividend payments, although future earnings are projected to cover future dividends.
• Shares of Kite Realty Group Trust fell by 4.2%, trading at $21.99, amidst a trading volume exceeding its average, and a significant market cap of $4.83 billion.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) declared a quarterly dividend on Thursday, July 31st, Wall Street Journal reports. Investors of record on Thursday, October 9th will be given a dividend of 0.27 per share by the real estate investment trust on Thursday, October 16th. This represents a c) dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Thursday, October 9th.

Kite Realty Group Trust has a payout ratio of 291.9% indicating that 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 $2.17 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 49.8%.

Kite Realty Group Trust Stock Down 1.6%

Kite Realty Group Trust stock traded down $0.35 during mid-day trading on Friday, reaching $21.63. The company's stock had a trading volume of 2,064,786 shares, compared to its average volume of 1,445,397. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 6.67 and a beta of 1.16. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24. The business's 50 day simple moving average is $22.49 and its 200 day simple moving average is $22.35. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.07 and a current ratio of 1.70.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, meeting analysts' consensus estimates of $0.51. The business had revenue of $211.18 million during the quarter, compared to the consensus estimate of $211.74 million. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. As a group, research analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on KRG. Raymond James Financial cut their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Friday, May 23rd. UBS Group began coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price target for the company. Finally, Wall Street Zen cut shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Seven investment 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $27.22.

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.