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

Kite Realty Group Trust (NYSE:KRG) declared a quarterly dividend on Tuesday, July 28th. Stockholders of record on Friday, October 9th will be paid a dividend of 0.29 per share by the real estate investment trust on Friday, October 16th. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, October 9th.

Kite Realty Group Trust has raised its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Kite Realty Group Trust has a payout ratio of 313.5% 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 research analysts expect Kite Realty Group Trust to earn $2.19 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 53.0%.

Kite Realty Group Trust Stock Performance

Shares of KRG stock traded up $0.01 during trading on Thursday, hitting $28.86. The company’s stock had a trading volume of 3,335,579 shares, compared to its average volume of 2,089,408. The company has a market cap of $5.86 billion, a PE ratio of 21.70, a P/E/G ratio of 4.09 and a beta of 0.85. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.05. The business has a fifty day moving average of $28.39 and a 200-day moving average of $26.28. Kite Realty Group Trust has a 52 week low of $20.86 and a 52 week high of $29.92.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Kite Realty Group Trust had a return on equity of 9.21% and a net margin of 34.74%.The business had revenue of $200.70 million for the quarter, compared to the consensus estimate of $198.37 million. As a group, research analysts anticipate that Kite Realty Group Trust will post 2.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Edgestream Partners L.P. bought a new stake in shares of Kite Realty Group Trust during the 1st quarter valued at $307,000. Amundi boosted its stake in Kite Realty Group Trust by 3.2% in the 1st quarter. Amundi now owns 123,135 shares of the real estate investment trust’s stock worth $3,023,000 after purchasing an additional 3,858 shares during the period. California State Teachers Retirement System grew its holdings in Kite Realty Group Trust by 26.0% during the 1st quarter. California State Teachers Retirement System now owns 263,946 shares of the real estate investment trust’s stock valued at $6,480,000 after buying an additional 54,425 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Kite Realty Group Trust by 12.4% during the 1st quarter. Quantinno Capital Management LP now owns 77,778 shares of the real estate investment trust’s stock valued at $1,909,000 after buying an additional 8,557 shares in the last quarter. Finally, SummitTX Capital L.P. increased its position in shares of Kite Realty Group Trust by 45.4% during the first quarter. SummitTX Capital L.P. now owns 355,188 shares of the real estate investment trust’s stock valued at $8,720,000 after buying an additional 110,852 shares during the period. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Company Profile

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.