Kite Realty Group Trust (NYSE:KRG) to Issue Quarterly Dividend of $0.29

Kite Realty Group Trust (NYSE:KRG) declared a quarterly dividend on Saturday, February 14th. Investors of record on Thursday, April 9th will be paid a dividend of 0.29 per share by the real estate investment trust on Thursday, April 16th. This represents a c) annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Thursday, April 9th.

Kite Realty Group Trust has raised its dividend payment by an average of 0.2%annually over the last three years and has raised 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. 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 $1.16 annual dividend with an expected future payout ratio of 53.5%.

Kite Realty Group Trust Trading Down 0.3%

Shares of NYSE KRG opened at $24.61 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.74 and a current ratio of 0.74. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $26.38. The firm has a 50 day moving average price of $24.98 and a two-hundred day moving average price of $23.60. The stock has a market cap of $5.00 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 4.47 and a beta of 0.88.

Institutional Trading of Kite Realty Group Trust

A number of large investors have recently made changes to their positions in KRG. Los Angeles Capital Management LLC purchased a new stake in Kite Realty Group Trust in the fourth quarter valued at approximately $25,000. Arax Advisory Partners raised its stake in Kite Realty Group Trust by 182.0% in the 4th quarter. Arax Advisory Partners now owns 1,125 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 726 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Kite Realty Group Trust by 54.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 462 shares during the last quarter. First Horizon Corp acquired a new position in Kite Realty Group Trust in the 3rd quarter valued at $30,000. Finally, EverSource Wealth Advisors LLC raised its stake in Kite Realty Group Trust by 118.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 740 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.