Kite Realty Group Trust (NYSE:KRG) to Issue Quarterly Dividend of $0.27

Kite Realty Group Trust (NYSE:KRG) declared a quarterly dividend on Wednesday, October 30th, Wall Street Journal reports. Stockholders of record on Thursday, January 9th will be given a dividend of 0.27 per share by the real estate investment trust on Thursday, January 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Thursday, January 9th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26.

Kite Realty Group Trust has raised its dividend payment by an average of 33.7% per year over the last three years. Kite Realty Group Trust has a dividend payout ratio of 281.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Kite Realty Group Trust to earn $2.13 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 48.8%.

Kite Realty Group Trust Price Performance

KRG stock opened at $25.69 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $27.15. The business has a 50 day simple moving average of $26.08 and a two-hundred day simple moving average of $23.70.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. Robert W. Baird lifted their target price on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Compass Point boosted their target price on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. KeyCorp raised their price target on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a report on Friday, August 16th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Insider Activity at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following the completion of the transaction, the director now directly owns 732,252 shares of the company’s stock, valued at $19,624,353.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.

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.