Wall Street analysts expect Kite Realty Group Trust (NYSE:KRG) to post sales of $88.57 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Kite Realty Group Trust’s earnings, with the lowest sales estimate coming in at $88.02 million and the highest estimate coming in at $89.32 million. Kite Realty Group Trust reported sales of $88.87 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.3%. The firm is scheduled to issue its next earnings report after the market closes on Thursday, February 1st.
According to Zacks, analysts expect that Kite Realty Group Trust will report full-year sales of $88.57 million for the current year, with estimates ranging from $357.79 million to $361.00 million. For the next year, analysts forecast that the business will post sales of $363.09 million per share, with estimates ranging from $357.86 million to $369.31 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Kite Realty Group Trust.
Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. Kite Realty Group Trust had a net margin of 3.60% and a return on equity of 0.80%. The company had revenue of $87.10 million for the quarter, compared to analysts’ expectations of $88.16 million. During the same period in the prior year, the business earned $0.52 EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis.
KRG has been the topic of several recent research reports. Zacks Investment Research cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Raymond James Financial reiterated an “outperform” rating and set a $23.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a report on Wednesday, December 20th. ValuEngine cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Capital One Financial reiterated an “equal weight” rating on shares of Kite Realty Group Trust in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $23.80.
Kite Realty Group Trust (KRG) opened at $17.54 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06. Kite Realty Group Trust has a 1-year low of $17.52 and a 1-year high of $24.38. The stock has a market cap of $1,466.24, a PE ratio of 8.60, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63.
The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, January 5th were given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.24%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, January 4th. Kite Realty Group Trust’s dividend payout ratio is presently 846.67%.
In other Kite Realty Group Trust news, CAO Thomas R. Olinger sold 3,157 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $19.01, for a total transaction of $60,014.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John A. Kite sold 17,000 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $20.09, for a total transaction of $341,530.00. Following the sale, the chief executive officer now directly owns 52,712 shares of the company’s stock, valued at $1,058,984.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,157 shares of company stock valued at $497,645. Insiders own 1.87% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Zions Bancorporation purchased a new stake in shares of Kite Realty Group Trust during the third quarter valued at about $111,000. Riverhead Capital Management LLC lifted its position in shares of Kite Realty Group Trust by 64.1% during the second quarter. Riverhead Capital Management LLC now owns 6,727 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 2,627 shares during the last quarter. Perigon Wealth Management LLC raised its position in shares of Kite Realty Group Trust by 58.1% in the 2nd quarter. Perigon Wealth Management LLC now owns 6,800 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 2,500 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Kite Realty Group Trust by 374.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 7,126 shares of the real estate investment trust’s stock valued at $144,000 after purchasing an additional 5,623 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of Kite Realty Group Trust by 23.5% in the 2nd quarter. D.A. Davidson & CO. now owns 9,651 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 1,834 shares during the last quarter. 94.42% of the stock is owned by institutional investors and hedge funds.
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About Kite Realty Group Trust
Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.
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