Kite Realty Group Trust (NYSE:KRG) to Issue $0.25 Quarterly Dividend

Kite Realty Group Trust (NYSE:KRG - Get Free Report) declared a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Shareholders of record on Tuesday, July 9th will be given a dividend of 0.25 per share by the real estate investment trust on Tuesday, July 16th. This represents a $1.00 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend is Tuesday, July 9th.

Kite Realty Group Trust has raised its dividend payment by an average of 33.7% 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 dividend payout ratio of 416.7% 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 $2.12 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 47.2%.

Kite Realty Group Trust Stock Down 1.7 %

NYSE:KRG traded down $0.37 on Wednesday, reaching $21.43. The stock had a trading volume of 2,464,807 shares, compared to its average volume of 1,885,186. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average of $21.03 and a 200 day moving average of $21.42. The stock has a market cap of $4.71 billion, a P/E ratio of 97.41, a price-to-earnings-growth ratio of 3.12 and a beta of 1.29. Kite Realty Group Trust has a 12-month low of $19.16 and a 12-month high of $24.26.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KRG. StockNews.com raised shares of Kite Realty Group Trust from a "sell" rating to a "hold" rating in a research report on Thursday, February 22nd. Jefferies Financial Group raised shares of Kite Realty Group Trust from a "hold" rating to a "buy" rating and set a $23.00 price objective for the company in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $26.00.

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.