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

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) announced a quarterly dividend on Thursday, July 31st, Wall Street Journal reports. Shareholders of record on Thursday, October 9th will be paid 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 is Thursday, October 9th.

Kite Realty Group Trust has a dividend 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. Equities 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 Trading Up 0.3%

NYSE KRG traded up $0.06 on Monday, reaching $21.70. The stock had a trading volume of 106,366 shares, compared to its average volume of 1,895,480. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 6.57 and a beta of 1.16. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91. Kite Realty Group Trust has a 12-month low of $18.51 and a 12-month high of $28.24. The stock has a fifty day moving average price of $22.49 and a two-hundred day moving average price of $22.35.

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

Hedge Funds Weigh In On Kite Realty Group Trust

Large investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC purchased a new position in Kite Realty Group Trust in the first quarter valued at $25,000. Smallwood Wealth Investment Management LLC acquired a new position in Kite Realty Group Trust in the first quarter valued at $25,000. Ameritas Advisory Services LLC acquired a new position in Kite Realty Group Trust in the second quarter valued at $30,000. UMB Bank n.a. boosted its stake in Kite Realty Group Trust by 103.0% in the second quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust's stock valued at $59,000 after acquiring an additional 1,323 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Kite Realty Group Trust by 44.0% in the second quarter. Blue Trust Inc. now owns 2,973 shares of the real estate investment trust's stock valued at $67,000 after acquiring an additional 908 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

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.