Kite Realty Group Trust (KRG) Expected to Post Quarterly Sales of $83.95 Million

Equities research analysts expect Kite Realty Group Trust (NYSE:KRG) to post $83.95 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Kite Realty Group Trust’s earnings, with the highest sales estimate coming in at $86.42 million and the lowest estimate coming in at $80.11 million. Kite Realty Group Trust posted sales of $89.76 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 6.5%. The business is expected to report its next quarterly earnings report after the market closes on Monday, May 6th.

On average, analysts expect that Kite Realty Group Trust will report full-year sales of $325.21 million for the current year, with estimates ranging from $301.51 million to $346.76 million. For the next fiscal year, analysts expect that the firm will post sales of $307.54 million, with estimates ranging from $284.25 million to $347.56 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Kite Realty Group Trust.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Tuesday, February 19th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. The business had revenue of $86.90 million during the quarter, compared to analysts’ expectations of $85.31 million. Kite Realty Group Trust had a negative net margin of 13.15% and a negative return on equity of 3.15%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.50 earnings per share.

A number of research analysts have issued reports on KRG shares. TheStreet raised shares of Kite Realty Group Trust from a “d+” rating to a “c-” rating in a report on Tuesday, February 19th. Barclays cut shares of Kite Realty Group Trust from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $15.00 to $16.00 in a report on Monday, February 4th. Zacks Investment Research raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. ValuEngine raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 15th. Finally, Raymond James cut shares of Kite Realty Group Trust from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $16.13.

In other Kite Realty Group Trust news, CFO R Fear Heath bought 7,500 shares of Kite Realty Group Trust stock in a transaction that occurred on Tuesday, February 26th. The stock was purchased at an average price of $15.79 per share, with a total value of $118,425.00. Following the completion of the acquisition, the chief financial officer now directly owns 78,883 shares in the company, valued at approximately $1,245,562.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.93% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in Kite Realty Group Trust by 10.2% in the fourth quarter. Geode Capital Management LLC now owns 1,145,816 shares of the real estate investment trust’s stock valued at $16,144,000 after buying an additional 106,004 shares in the last quarter. Norges Bank purchased a new position in Kite Realty Group Trust in the fourth quarter valued at $16,934,000. Macquarie Group Ltd. increased its holdings in Kite Realty Group Trust by 10.1% in the fourth quarter. Macquarie Group Ltd. now owns 4,167,496 shares of the real estate investment trust’s stock valued at $58,720,000 after buying an additional 382,542 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in Kite Realty Group Trust in the fourth quarter valued at $341,000. Finally, Metropolitan Life Insurance Co. NY increased its holdings in Kite Realty Group Trust by 209.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 32,307 shares of the real estate investment trust’s stock valued at $455,000 after buying an additional 21,854 shares in the last quarter. 92.46% of the stock is owned by institutional investors.

Shares of NYSE KRG traded down $0.11 during midday trading on Monday, reaching $15.99. The company had a trading volume of 580,480 shares, compared to its average volume of 599,874. The stock has a market cap of $1.35 billion, a P/E ratio of 8.00, a P/E/G ratio of 1.92 and a beta of 0.87. Kite Realty Group Trust has a 1 year low of $13.66 and a 1 year high of $17.75. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 22nd were issued a dividend of $0.3175 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $1.27 annualized dividend and a dividend yield of 7.94%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 63.50%.

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 neighborhood, community, and lifestyle centers.

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

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