Kite Realty Group Trust (NYSE:KRG) declared a quarterly dividend on Thursday, May 10th, Zacks reports. Shareholders of record on Friday, July 6th will be paid a dividend of 0.317 per share by the real estate investment trust on Friday, July 13th. This represents a $1.27 dividend on an annualized basis and a yield of 7.42%. The ex-dividend date is Thursday, July 5th.
Kite Realty Group Trust has raised its dividend payment by an average of 5.9% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Kite Realty Group Trust has a payout ratio of 62.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kite Realty Group Trust to earn $2.04 per share next year, which means the company should continue to be able to cover its $1.27 annual dividend with an expected future payout ratio of 62.3%.
Shares of Kite Realty Group Trust stock opened at $17.08 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 8.37, a P/E/G ratio of 2.02 and a beta of 0.51. Kite Realty Group Trust has a one year low of $13.87 and a one year high of $21.57.
Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. The business had revenue of $89.76 million for the quarter, compared to analysts’ expectations of $88.38 million. Kite Realty Group Trust had a negative return on equity of 0.38% and a negative net margin of 1.69%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. equities analysts expect that Kite Realty Group Trust will post 2 EPS for the current fiscal year.
KRG has been the topic of a number of analyst reports. Zacks Investment Research raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 28th. Barclays reaffirmed a “buy” rating and issued a $20.00 price target on shares of Kite Realty Group Trust in a research note on Thursday, March 8th. Sandler O’Neill set a $16.00 price target on Kite Realty Group Trust and gave the stock a “hold” rating in a research note on Tuesday, March 20th. TheStreet cut Kite Realty Group Trust from a “c” rating to a “d+” rating in a research note on Wednesday, April 25th. Finally, ValuEngine cut Kite Realty Group Trust from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.57.
Kite Realty Group Trust Company Profile
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) engaged primarily in the ownership and operation, acquisition, development and redevelopment of high-quality neighborhood and community shopping centers in select markets in the United States. As of December 31, 2017, we owned interests in 117 operating and redevelopment properties totaling approximately 23.3 million square feet and two development projects currently under construction.
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