Wall Street brokerages expect Kite Realty Group Trust (NYSE:KRG) to announce earnings per share (EPS) of $0.32 for the current quarter, Zacks reports. Three analysts have issued estimates for Kite Realty Group Trust’s earnings, with the lowest EPS estimate coming in at $0.30 and the highest estimate coming in at $0.33. Kite Realty Group Trust reported earnings of $0.36 per share during the same quarter last year, which indicates a negative year over year growth rate of 11.1%. The firm is scheduled to report its next earnings report after the market closes on Thursday, April 29th.
According to Zacks, analysts expect that Kite Realty Group Trust will report full year earnings of $1.30 per share for the current year, with EPS estimates ranging from $1.28 to $1.35. For the next financial year, analysts forecast that the company will report earnings of $1.39 per share, with EPS estimates ranging from $1.36 to $1.42. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Kite Realty Group Trust.
Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Thursday, February 11th. The real estate investment trust reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. Kite Realty Group Trust had a return on equity of 0.47% and a net margin of 2.15%.
KRG has been the subject of several analyst reports. KeyCorp upgraded Kite Realty Group Trust from a “sector weight” rating to an “overweight” rating and set a $22.00 price target for the company in a research note on Wednesday, March 10th. Capital One Financial reaffirmed an “overweight” rating on shares of Kite Realty Group Trust in a report on Monday, January 11th. Zacks Investment Research lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Thursday, February 18th. TheStreet raised Kite Realty Group Trust from a “d+” rating to a “c-” rating in a report on Wednesday, February 3rd. Finally, Wells Fargo & Company raised Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $14.00 to $17.00 in a report on Thursday, December 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Kite Realty Group Trust has a consensus rating of “Hold” and an average target price of $14.67.
Shares of Kite Realty Group Trust stock traded down $0.24 during trading hours on Thursday, hitting $19.50. 13,325 shares of the company were exchanged, compared to its average volume of 577,545. Kite Realty Group Trust has a 1 year low of $7.21 and a 1 year high of $21.46. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average of $19.64 and a 200-day moving average of $15.47. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 282.00, a P/E/G ratio of 10.08 and a beta of 1.39.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be issued a $0.17 dividend. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, April 7th. This represents a $0.68 annualized dividend and a yield of 3.49%. Kite Realty Group Trust’s dividend payout ratio is 36.14%.
A number of institutional investors have recently bought and sold shares of the business. Everence Capital Management Inc. acquired a new stake in Kite Realty Group Trust in the first quarter valued at $210,000. Pensionfund DSM Netherlands grew its holdings in Kite Realty Group Trust by 25.6% in the first quarter. Pensionfund DSM Netherlands now owns 49,000 shares of the real estate investment trust’s stock valued at $945,000 after purchasing an additional 10,000 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Kite Realty Group Trust by 13.4% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 49,658 shares of the real estate investment trust’s stock valued at $743,000 after acquiring an additional 5,883 shares during the last quarter. Norges Bank acquired a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at $17,433,000. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Kite Realty Group Trust by 14.8% during the fourth quarter. UBS Asset Management Americas Inc. now owns 465,530 shares of the real estate investment trust’s stock valued at $6,964,000 after acquiring an additional 60,173 shares during the last quarter. 88.97% of the stock is currently owned by institutional investors.
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 retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.
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