Kite Realty Group Trust (NYSE:KRG) to Issue $0.29 Quarterly Dividend

Key Points

• Kite Realty declared a quarterly dividend of $0.29 per share (annualized $1.16), payable July 16 to holders of record on July 9, implying a yield of about 4.4%.
• The company’s reported dividend payout ratio is an unsustainably high 313.5% based on recent earnings, but analysts expect ~€$2.10–$2.18 EPS next year (company guidance 2.06–2.12), which would reduce the expected payout ratio to roughly 53%.
• Kite missed Q earnings with EPS of $0.06 (vs. $0.07 est.) while revenue beat at $200.7M; the stock traded near $26.07 with a market cap of about $5.29B and a P/E of ~18.9.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) declared a quarterly dividend on Monday, April 27th. Investors of record on Thursday, July 9th will be paid a dividend of 0.29 per share by the real estate investment trust on Thursday, July 16th. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Thursday, July 9th.

Kite Realty Group Trust has increased its dividend by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 4 years. Kite Realty Group Trust has a dividend payout ratio of 313.5% 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 analysts expect Kite Realty Group Trust to earn $2.18 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 53.2%.

Kite Realty Group Trust Price Performance

Kite Realty Group Trust stock traded down $0.08 during mid-day trading on Wednesday, hitting $26.07. The stock had a trading volume of 2,760,466 shares, compared to its average volume of 1,905,017. The firm has a market capitalization of $5.29 billion, a P/E ratio of 18.89, a P/E/G ratio of 4.73 and a beta of 0.88. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.98. The firm's 50 day moving average is $25.47 and its 200 day moving average is $24.02. Kite Realty Group Trust has a one year low of $20.86 and a one year high of $26.82.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $200.70 million during the quarter, compared to the consensus estimate of $199.26 million. Kite Realty Group Trust had a return on equity of 9.30% and a net margin of 35.34%.Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. On average, sell-side analysts forecast that Kite Realty Group Trust will post 2.1 earnings per share for the current fiscal year.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust NYSE: KRG is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.

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