Analysts predict that Kite Realty Group Trust (NYSE:KRG) will announce $86.26 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Kite Realty Group Trust’s earnings. The highest sales estimate is $86.74 million and the lowest is $85.37 million. Kite Realty Group Trust posted sales of $88.92 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3%. The business is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, February 19th.
According to Zacks, analysts expect that Kite Realty Group Trust will report full-year sales of $352.59 million for the current fiscal year, with estimates ranging from $351.55 million to $353.85 million. For the next fiscal year, analysts forecast that the firm will post sales of $344.71 million, with estimates ranging from $340.03 million to $353.15 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Kite Realty Group Trust.
Several analysts have recently weighed in on KRG shares. Zacks Investment Research raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. ValuEngine raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 15th. Citigroup reduced their price objective on Kite Realty Group Trust from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, November 29th. Finally, Robert W. Baird downgraded Kite Realty Group Trust from an “outperform” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research note on Wednesday, October 24th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Kite Realty Group Trust has a consensus rating of “Hold” and a consensus target price of $16.70.
In other Kite Realty Group Trust news, CEO John A. Kite sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $16.21, for a total transaction of $194,520.00. Following the completion of the sale, the chief executive officer now directly owns 47,088 shares of the company’s stock, valued at approximately $763,296.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.93% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KRG. BlackRock Inc. increased its position in Kite Realty Group Trust by 5.9% during the 2nd quarter. BlackRock Inc. now owns 14,408,782 shares of the real estate investment trust’s stock worth $246,103,000 after purchasing an additional 799,164 shares during the period. Macquarie Group Ltd. increased its position in Kite Realty Group Trust by 26.3% during the 3rd quarter. Macquarie Group Ltd. now owns 3,784,954 shares of the real estate investment trust’s stock worth $63,019,000 after purchasing an additional 788,808 shares during the period. Renaissance Technologies LLC increased its position in Kite Realty Group Trust by 692.2% during the 3rd quarter. Renaissance Technologies LLC now owns 809,600 shares of the real estate investment trust’s stock worth $13,480,000 after purchasing an additional 707,400 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Kite Realty Group Trust during the 3rd quarter worth approximately $11,087,000. Finally, LSV Asset Management acquired a new position in Kite Realty Group Trust during the 3rd quarter worth approximately $10,850,000. Institutional investors own 91.27% of the company’s stock.
Shares of Kite Realty Group Trust stock traded up $0.07 on Tuesday, hitting $15.95. The stock had a trading volume of 398,370 shares, compared to its average volume of 546,252. Kite Realty Group Trust has a 52-week low of $13.66 and a 52-week high of $18.34. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $1.34 billion, a P/E ratio of 7.82, a PEG ratio of 2.20 and a beta of 0.66.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 11th. Shareholders of record on Friday, January 4th were paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.96%. The ex-dividend date was Thursday, January 3rd. Kite Realty Group Trust’s dividend payout ratio is presently 62.25%.
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.
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