Equities analysts expect that Kite Realty Group Trust (NYSE:KRG) will report $75.13 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Kite Realty Group Trust’s earnings, with estimates ranging from $72.20 million to $81.85 million. Kite Realty Group Trust posted sales of $86.94 million during the same quarter last year, which suggests a negative year over year growth rate of 13.6%. The business is scheduled to issue its next earnings results on Tuesday, February 18th.
According to Zacks, analysts expect that Kite Realty Group Trust will report full-year sales of $315.62 million for the current fiscal year, with estimates ranging from $307.50 million to $328.18 million. For the next financial year, analysts expect that the firm will report sales of $299.49 million, with estimates ranging from $288.46 million to $329.63 million. Zacks’ sales averages are an average based on a survey of analysts that follow Kite Realty Group Trust.
Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). Kite Realty Group Trust had a negative return on equity of 3.45% and a negative net margin of 14.39%. The firm had revenue of $74.94 million for the quarter, compared to the consensus estimate of $76.16 million. During the same period last year, the firm earned $0.48 EPS. The company’s revenue for the quarter was down 12.6% on a year-over-year basis.
A number of analysts recently weighed in on KRG shares. Zacks Investment Research upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Barclays set a $16.00 price target on shares of Kite Realty Group Trust and gave the company a “hold” rating in a research report on Friday, October 11th. ValuEngine downgraded shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Tuesday. Sandler O’Neill upgraded shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Finally, Compass Point cut shares of Kite Realty Group Trust from a “neutral” rating to a “sell” rating and set a $18.00 price objective for the company. in a research note on Monday, November 25th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $17.00.
Shares of Kite Realty Group Trust stock traded up $0.23 during trading on Friday, hitting $19.39. 13,929 shares of the stock traded hands, compared to its average volume of 493,968. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 9.69 and a beta of 0.85. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.92. Kite Realty Group Trust has a 52 week low of $13.66 and a 52 week high of $19.77. The firm’s fifty day moving average is $18.16 and its 200-day moving average is $16.15.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 20th will be paid a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date of this dividend is Thursday, December 19th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 63.50%.
In related news, CEO John A. Kite sold 17,000 shares of Kite Realty Group Trust stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $15.85, for a total value of $269,450.00. Following the transaction, the chief executive officer now directly owns 30,610 shares of the company’s stock, valued at $485,168.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John A. Kite sold 12,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $18.78, for a total transaction of $234,750.00. Following the sale, the chief executive officer now owns 26,110 shares of the company’s stock, valued at $490,345.80. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.
A number of institutional investors have recently made changes to their positions in KRG. Phocas Financial Corp. bought a new stake in shares of Kite Realty Group Trust in the second quarter worth about $2,174,000. Advisory Services Network LLC bought a new stake in shares of Kite Realty Group Trust in the 2nd quarter worth approximately $31,000. Weaver Consulting Group bought a new stake in shares of Kite Realty Group Trust in the 2nd quarter worth approximately $49,000. HM Payson & Co. bought a new stake in shares of Kite Realty Group Trust in the 2nd quarter worth approximately $50,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Kite Realty Group Trust by 227.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,132 shares of the real estate investment trust’s stock valued at $93,000 after buying an additional 4,257 shares during the period. 91.26% of the stock is currently owned by institutional investors and hedge funds.
About Kite Realty Group Trust
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 neighborhood, community, and lifestyle centers.
Featured Article: What causes a stock to be most active?
Get a free copy of the Zacks research report on Kite Realty Group Trust (KRG)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Kite Realty Group Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kite Realty Group Trust and related companies with MarketBeat.com's FREE daily email newsletter.