$88.42 Million in Sales Expected for Kite Realty Group Trust (KRG) This Quarter

Brokerages expect that Kite Realty Group Trust (NYSE:KRG) will report $88.42 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Kite Realty Group Trust’s earnings, with estimates ranging from $87.29 million to $89.57 million. Kite Realty Group Trust reported sales of $90.11 million in the same quarter last year, which indicates a negative year-over-year growth rate of 1.9%. The firm is expected to report its next quarterly earnings report on Wednesday, April 25th.

On average, analysts expect that Kite Realty Group Trust will report full-year sales of $88.42 million for the current fiscal year, with estimates ranging from $351.49 million to $360.48 million. For the next year, analysts anticipate that the business will post sales of $364.93 million per share, with estimates ranging from $357.56 million to $371.16 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Kite Realty Group Trust.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Thursday, February 1st. The real estate investment trust reported $0.50 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.50. The business had revenue of $88.90 million during the quarter, compared to the consensus estimate of $89.14 million. Kite Realty Group Trust had a net margin of 3.31% and a return on equity of 0.74%. The firm’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share.

A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Citigroup cut their price objective on shares of Kite Realty Group Trust from $20.50 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Raymond James Financial restated an “outperform” rating and set a $23.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Wednesday, December 20th. Capital One Financial restated an “equal weight” rating on shares of Kite Realty Group Trust in a report on Tuesday, October 24th. Finally, ValuEngine downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Kite Realty Group Trust currently has an average rating of “Hold” and an average price target of $20.33.

Shares of Kite Realty Group Trust (NYSE:KRG) traded up $0.55 during trading on Thursday, reaching $15.48. 1,126,685 shares of the company’s stock were exchanged, compared to its average volume of 872,913. The company has a market capitalization of $1,294.22, a P/E ratio of 110.57, a PEG ratio of 1.80 and a beta of 0.42. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.05 and a quick ratio of 0.84. Kite Realty Group Trust has a fifty-two week low of $13.90 and a fifty-two week high of $23.59.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, April 6th will be issued a dividend of $0.3175 per share. The ex-dividend date is Thursday, April 5th. This represents a $1.27 annualized dividend and a dividend yield of 8.20%. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 907.14%.

In other Kite Realty Group Trust news, Director William E. Bindley purchased 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average price of $15.06 per share, for a total transaction of $1,506,000.00. Following the acquisition, the director now owns 85,014 shares in the company, valued at $1,280,310.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Wurtzebach purchased 6,600 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was acquired at an average price of $14.65 per share, for a total transaction of $96,690.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 25,157 shares of company stock worth $497,645. Corporate insiders own 1.87% of the company’s stock.

A number of large investors have recently modified their holdings of KRG. Investment Counselors of Maryland LLC boosted its position in Kite Realty Group Trust by 21.3% in the 3rd quarter. Investment Counselors of Maryland LLC now owns 1,151,730 shares of the real estate investment trust’s stock worth $23,323,000 after purchasing an additional 202,570 shares in the last quarter. Quantbot Technologies LP acquired a new position in Kite Realty Group Trust in the third quarter valued at $629,000. California Public Employees Retirement System increased its stake in Kite Realty Group Trust by 9.7% in the third quarter. California Public Employees Retirement System now owns 229,717 shares of the real estate investment trust’s stock valued at $4,652,000 after purchasing an additional 20,225 shares during the last quarter. Wells Fargo & Company MN increased its stake in Kite Realty Group Trust by 60.8% in the third quarter. Wells Fargo & Company MN now owns 104,504 shares of the real estate investment trust’s stock valued at $2,115,000 after purchasing an additional 39,532 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Kite Realty Group Trust by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,216,947 shares of the real estate investment trust’s stock valued at $23,038,000 after purchasing an additional 56,344 shares during the last quarter. Institutional investors own 93.84% of the company’s stock.

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Kite Realty Group Trust Company Profile

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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Earnings History and Estimates for Kite Realty Group Trust (NYSE:KRG)

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