Kite Realty Group Trust (NYSE:KRG) to Issue Dividend Increase – $0.08 Per Share

Kite Realty Group Trust (NYSE:KRG) announced a quarterly dividend on Tuesday, September 15th, Wall Street Journal reports. Stockholders of record on Friday, October 2nd will be given a dividend of 0.08 per share by the real estate investment trust on Friday, October 9th. This represents a $0.32 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Thursday, October 1st. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.05.

Kite Realty Group Trust has increased its dividend payment by 39.9% over the last three years.

Shares of Kite Realty Group Trust stock opened at $12.24 on Wednesday. Kite Realty Group Trust has a one year low of $6.87 and a one year high of $19.77. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.40 and a quick ratio of 3.40. The stock’s 50-day moving average is $11.17 and its 200 day moving average is $10.87. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -102.00, a PEG ratio of 7.06 and a beta of 1.18.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.35). Kite Realty Group Trust had a negative return on equity of 0.73% and a negative net margin of 3.27%. On average, sell-side analysts expect that Kite Realty Group Trust will post 1.3 EPS for the current fiscal year.

A number of equities research analysts have commented on the company. Zacks Investment Research cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, August 18th. Compass Point upgraded shares of Kite Realty Group Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $12.00 to $14.00 in a report on Wednesday, August 19th. They noted that the move was a valuation call. DA Davidson reissued a “neutral” rating on shares of Kite Realty Group Trust in a report on Monday, August 10th. Raymond James reaffirmed a “hold” rating on shares of Kite Realty Group Trust in a research report on Thursday, August 13th. Finally, Citigroup increased their price target on Kite Realty Group Trust from $8.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Kite Realty Group Trust has a consensus rating of “Hold” and an average price target of $15.00.

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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Dividend History for Kite Realty Group Trust (NYSE:KRG)

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