Kite Realty Group Trust (NYSE:KRG) declared a quarterly dividend on Thursday, June 18th, Zacks reports. Shareholders of record on Thursday, July 2nd will be paid a dividend of 0.052 per share by the real estate investment trust on Thursday, July 9th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Wednesday, July 1st.
Kite Realty Group Trust has a payout ratio of -2,540.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Kite Realty Group Trust to earn $1.35 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 94.1%.
Kite Realty Group Trust stock opened at $11.26 on Monday. The firm has a 50-day moving average price of $10.81 and a 200-day moving average price of $13.86. The firm has a market capitalization of $947.17 million, a PE ratio of -140.75, a price-to-earnings-growth ratio of 6.86 and a beta of 1.24. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 1.15. Kite Realty Group Trust has a 12-month low of $6.87 and a 12-month high of $19.77.
Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Wednesday, May 6th. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.39). The firm had revenue of $69.91 million during the quarter, compared to the consensus estimate of $70.80 million. Kite Realty Group Trust had a negative return on equity of 0.48% and a negative net margin of 2.09%. As a group, sell-side analysts predict that Kite Realty Group Trust will post 1.25 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on KRG shares. Zacks Investment Research upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Citigroup lowered their target price on shares of Kite Realty Group Trust from $19.50 to $8.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Compass Point lowered shares of Kite Realty Group Trust from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $15.00 to $12.00 in a report on Thursday, April 16th. ValuEngine lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Tuesday, March 3rd. Finally, Robert W. Baird decreased their price objective on shares of Kite Realty Group Trust from $19.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.29.
About Kite Realty Group Trust
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.
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