Kite Realty Group Trust (NYSE:KRG) to Issue Quarterly Dividend of $0.29
by Kim Johansen · The Markets DailyKite Realty Group Trust (NYSE:KRG – Get Free Report) declared a quarterly dividend on Saturday, February 14th. Shareholders of record on Thursday, April 9th will be given a dividend of 0.29 per share by the real estate investment trust on Thursday, April 16th. This represents a c) dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Thursday, April 9th.
Kite Realty Group Trust has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 4 years. Kite Realty Group Trust has a payout ratio of 313.5% meaning 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 $2.17 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 53.5%.
Kite Realty Group Trust Stock Performance
Kite Realty Group Trust stock opened at $24.61 on Tuesday. Kite Realty Group Trust has a 12-month low of $18.51 and a 12-month high of $26.38. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.98. The business’s 50-day moving average price is $24.98 and its two-hundred day moving average price is $23.60. The stock has a market cap of $5.00 billion, a PE ratio of 17.84, a P/E/G ratio of 4.47 and a beta of 0.88.
About Kite Realty Group Trust
Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.
Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.