Analysts Expect Kite Realty Group Trust (NYSE:KRG) Will Post Quarterly Sales of $75.13 Million

Analysts forecast that Kite Realty Group Trust (NYSE:KRG) will announce $75.13 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Kite Realty Group Trust’s earnings, with the lowest sales estimate coming in at $72.20 million and the highest estimate coming in at $81.85 million. Kite Realty Group Trust posted sales of $86.94 million in the same quarter last year, which suggests a negative year over year growth rate of 13.6%. The firm is scheduled to announce 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 business will report sales of $299.49 million, with estimates ranging from $288.46 million to $329.63 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 issued its earnings results on Tuesday, November 5th. The real estate investment trust reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The firm had revenue of $74.94 million for the quarter, compared to analyst estimates of $76.16 million. Kite Realty Group Trust had a negative return on equity of 3.45% and a negative net margin of 14.39%. Kite Realty Group Trust’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 earnings per share.

Several research firms have recently issued reports on KRG. Sandler O’Neill upgraded shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Barclays set a $16.00 price objective on shares of Kite Realty Group Trust and gave the stock a “hold” rating in a research report on Friday, October 11th. Compass Point lowered 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. ValuEngine cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Zacks Investment Research raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $17.00.

NYSE:KRG traded up $0.23 during trading hours on Friday, hitting $19.39. 13,929 shares of the company traded hands, compared to its average volume of 493,968. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.92. The company has a market cap of $1.62 billion, a PE ratio of 9.69 and a beta of 0.85. The firm’s 50-day simple moving average is $18.16 and its 200-day simple moving average is $16.15. Kite Realty Group Trust has a one year low of $13.66 and a one year high of $19.77.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.317 per share. This represents a $1.27 annualized dividend and a 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 currently 63.50%.

In other Kite Realty Group Trust news, CEO John A. Kite sold 12,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $18.78, for a total transaction of $234,750.00. Following the completion of the sale, the chief executive officer now directly owns 26,110 shares in the company, valued at $490,345.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John A. Kite sold 17,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $485,168.50. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Arizona State Retirement System boosted its stake in Kite Realty Group Trust by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 130,204 shares of the real estate investment trust’s stock worth $1,970,000 after purchasing an additional 896 shares in the last quarter. Zeke Capital Advisors LLC lifted its stake in shares of Kite Realty Group Trust by 4.1% in the second quarter. Zeke Capital Advisors LLC now owns 28,572 shares of the real estate investment trust’s stock worth $432,000 after buying an additional 1,134 shares in the last quarter. Phocas Financial Corp. bought a new position in shares of Kite Realty Group Trust in the second quarter worth approximately $2,174,000. California State Teachers Retirement System grew its holdings in shares of Kite Realty Group Trust by 1.2% during the third quarter. California State Teachers Retirement System now owns 129,142 shares of the real estate investment trust’s stock valued at $2,086,000 after buying an additional 1,542 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Kite Realty Group Trust by 10.6% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,847 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 1,617 shares during the last quarter. Institutional investors own 91.26% 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 neighborhood, community, and lifestyle centers.

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

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