Brokerages expect that Kite Realty Group Trust (NYSE:KRG) will post sales of $86.72 million for the current quarter, according to Zacks. Five analysts have made estimates for Kite Realty Group Trust’s earnings, with estimates ranging from $85.38 million to $88.52 million. Kite Realty Group Trust posted sales of $87.14 million during the same quarter last year, which suggests a negative year over year growth rate of 0.5%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, October 31st.
On average, analysts expect that Kite Realty Group Trust will report full-year sales of $354.53 million for the current year, with estimates ranging from $350.99 million to $359.67 million. For the next financial year, analysts forecast that the business will post sales of $354.49 million, with estimates ranging from $347.53 million to $365.40 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Kite Realty Group Trust.
Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.03. Kite Realty Group Trust had a negative net margin of 4.92% and a negative return on equity of 1.14%. The company had revenue of $91.70 million during the quarter, compared to analysts’ expectations of $88.08 million. During the same quarter last year, the company posted $0.54 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year.
KRG has been the subject of several recent research reports. Citigroup raised their price target on shares of Kite Realty Group Trust from $16.50 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, August 16th. Zacks Investment Research cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Finally, ValuEngine cut shares of Kite Realty Group Trust from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Kite Realty Group Trust presently has an average rating of “Hold” and an average target price of $18.17.
In other news, CEO John A. Kite sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $17.42, for a total value of $609,700.00. Following the sale, the chief executive officer now directly owns 68,588 shares in the company, valued at approximately $1,194,802.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.93% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Wealth Management LLC acquired a new stake in Kite Realty Group Trust during the 3rd quarter worth $334,000. Private Advisor Group LLC acquired a new stake in Kite Realty Group Trust during the 2nd quarter worth $212,000. BB&T Securities LLC raised its stake in Kite Realty Group Trust by 36.2% during the 2nd quarter. BB&T Securities LLC now owns 14,781 shares of the real estate investment trust’s stock worth $252,000 after acquiring an additional 3,927 shares in the last quarter. Element Capital Management LLC acquired a new stake in Kite Realty Group Trust during the 1st quarter worth $240,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Kite Realty Group Trust during the 2nd quarter worth $302,000. Institutional investors and hedge funds own 91.11% of the company’s stock.
KRG stock traded up $0.09 during midday trading on Friday, hitting $15.67. The company’s stock had a trading volume of 315,026 shares, compared to its average volume of 585,264. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.04. Kite Realty Group Trust has a 52-week low of $13.87 and a 52-week high of $20.24. The stock has a market capitalization of $1.30 billion, a PE ratio of 7.68, a P/E/G ratio of 1.80 and a beta of 0.58.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, October 5th were issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.10%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, October 4th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 62.25%.
Kite Realty Group Trust Company Profile
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 open-air shopping centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders.
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