Equities research analysts expect Kite Realty Group Trust (NYSE:KRG) to announce sales of $86.75 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Kite Realty Group Trust’s earnings. The lowest sales estimate is $85.98 million and the highest is $88.21 million. Kite Realty Group Trust reported sales of $88.92 million in the same quarter last year, which would suggest a negative year over year growth rate of 2.4%. The company is expected to announce its next quarterly earnings report on Thursday, February 7th.
On average, analysts expect that Kite Realty Group Trust will report full-year sales of $353.48 million for the current fiscal year, with estimates ranging from $350.99 million to $356.00 million. For the next fiscal year, analysts expect that the business will report sales of $350.67 million, with estimates ranging from $338.27 million to $359.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Kite Realty Group Trust.
KRG has been the topic of several research analyst reports. Zacks Investment Research upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Citigroup boosted their target price on Kite Realty Group Trust from $16.50 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, August 16th. Finally, Robert W. Baird downgraded Kite Realty Group Trust from an “outperform” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research note on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $17.83.
Shares of KRG stock opened at $16.15 on Wednesday. Kite Realty Group Trust has a 1-year low of $13.87 and a 1-year high of $20.24. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The firm has a market cap of $1.32 billion, a P/E ratio of 7.92, a price-to-earnings-growth ratio of 1.83 and a beta of 0.50.
The company also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, October 5th were paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.86%. The ex-dividend date of this dividend was Thursday, October 4th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.32. Kite Realty Group Trust’s payout ratio is presently 62.25%.
In other Kite Realty Group Trust news, CEO John A. Kite sold 35,000 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $17.42, for a total transaction of $609,700.00. Following the sale, the chief executive officer now owns 68,588 shares in the company, valued at approximately $1,194,802.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.93% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. grew its stake in Kite Realty Group Trust by 244.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 8,122 shares of the real estate investment trust’s stock valued at $135,000 after purchasing an additional 5,766 shares during the last quarter. Eii Capital Management Inc. grew its stake in Kite Realty Group Trust by 117.4% during the 3rd quarter. Eii Capital Management Inc. now owns 11,544 shares of the real estate investment trust’s stock valued at $186,000 after purchasing an additional 6,234 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Kite Realty Group Trust during the 2nd quarter valued at about $212,000. BB&T Securities LLC grew 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 valued at $252,000 after purchasing an additional 3,927 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in Kite Realty Group Trust during the 3rd quarter valued at about $283,000. Institutional investors and hedge funds own 90.85% of the company’s stock.
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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