Kite Realty Group Trust (KRG) to Issue Quarterly Dividend of $0.25 on April 12th

Kite Realty Group Trust (NYSE:KRG) declared a quarterly dividend on Tuesday, February 13th, Zacks reports. Stockholders of record on Friday, April 5th will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, April 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date is Thursday, April 4th.

Kite Realty Group Trust has raised its dividend payment by an average of 7.8% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Kite Realty Group Trust has a 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 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 $1.00 annual dividend with an expected future payout ratio of 47.4%.

Kite Realty Group Trust Trading Down 2.3 %

Shares of KRG stock opened at $21.18 on Tuesday. Kite Realty Group Trust has a 12 month low of $19.16 and a 12 month high of $24.26. The company has a market cap of $4.65 billion, a PE ratio of 96.28, a price-to-earnings-growth ratio of 3.12 and a beta of 1.29. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $21.35 and its two-hundred day moving average is $21.49.

Institutional Investors Weigh In On Kite Realty Group Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP acquired a new position in shares of Kite Realty Group Trust during the fourth quarter valued at $200,000. PNC Financial Services Group Inc. raised its holdings in Kite Realty Group Trust by 18.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,700 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 1,067 shares during the last quarter. Retirement Group LLC lifted its position in Kite Realty Group Trust by 237.0% during the 4th quarter. Retirement Group LLC now owns 5,490 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 3,861 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Kite Realty Group Trust by 14.6% in the 3rd quarter. Lazard Asset Management LLC now owns 4,977 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 634 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Kite Realty Group Trust during the 2nd quarter worth approximately $81,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

KRG has been the subject of several research analyst reports. Piper Sandler upped their target price on shares of Kite Realty Group Trust from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, December 20th. StockNews.com raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.