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

Kite Realty Group Trust (NYSE:KRG) announced a quarterly dividend on Monday, February 10th, 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 annualized dividend and a dividend yield of 5.19%. The ex-dividend date of this dividend is Wednesday, April 9th.

Kite Realty Group Trust has a payout ratio of 251.2% meaning 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 Stock Down 3.6 %

Kite Realty Group Trust stock opened at $20.82 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24. The company’s 50 day simple moving average is $22.58 and its 200 day simple moving average is $24.67. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 1,040.75, a PEG ratio of 3.57 and a beta of 1.05.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. As a group, sell-side analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wells Fargo & Company cut their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Piper Sandler reiterated a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price objective for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their price target 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. Finally, Raymond James dropped their price objective on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a report on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.88.

Kite Realty Group Trust Company Profile

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.