Much to the delight of the shareholders, Kite Realty Group Trust (KRG - Free Report) has made the announcement of increasing the quarterly cash distribution to 30.25 cents per common share. This new dividend for the quarter ended on Dec 31, 2016, marks an increase of 5.2% compared to the prior-quarter’s payment. The dividend will be paid on or around Jan 13, 2017, to shareholders on record as of Jan 6, 2017.
Indianapolis, IN-based Kite Realty is a retail real estate investment trust (“REIT”) which is mainly engaged in the development, construction, acquisition, ownership and operation of high quality neighborhood and community shopping centers in selected growth markets in the United States.
Currently, Kite Realty has a Zacks Rank #3 (Hold). Over the past 30 days, its current quarter FFO estimates have remained unchanged at 51 cents.
Some better-ranked stocks in the same space include Seritage Growth Properties (SRG - Free Report) , Duke Realty Corporation (DRE - Free Report) and DCT Industrial Trust Inc. (DCT - Free Report) . All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Seritage Growth Properties’ current-quarter estimates have moved up 1.7% over the past one month to 59 cents.
Duke Realty’ current-quarter estimates have moved up 3.3% over the past one month to 31 cents.
Current-quarter estimates for DCT Industrial Trust remained unchanged at 56 cents over the past month.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
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