Kite Realty Group Trust (KRG) To Go Ex-Dividend on April 9th

Kite Realty Group Trust (NYSE:KRG) announced a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Stockholders of record on Wednesday, April 9th will be given a dividend of 0.27 per share by the real estate investment trust on Wednesday, April 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Wednesday, April 9th.

Kite Realty Group Trust has a dividend payout ratio of 225.0% 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 $2.11 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 51.2%.

Kite Realty Group Trust Stock Performance

Shares of KRG opened at $23.32 on Friday. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $28.24. The firm has a fifty day simple moving average of $24.36 and a 200 day simple moving average of $25.47. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a negative net margin of 1.18% and a negative return on equity of 0.28%. As a group, equities analysts expect that Kite Realty Group Trust will post 2.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KRG has been the subject of a number of analyst reports. Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their price target for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Robert W. Baird raised their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. KeyCorp upped their price target on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Piper Sandler reissued a “neutral” rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Six equities research 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 company’s stock. According to data from MarketBeat, Kite Realty Group Trust currently has a consensus rating of “Hold” and an average target price of $28.13.

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.