$66.44 Million in Sales Expected for Kite Realty Group Trust (NYSE:KRG) This Quarter


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Wall Street analysts expect Kite Realty Group Trust (NYSE:KRG) to report $66.44 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Kite Realty Group Trust’s earnings. The lowest sales estimate is $65.27 million and the highest is $68.54 million. Kite Realty Group Trust posted sales of $69.91 million in the same quarter last year, which would indicate a negative year over year growth rate of 5%. The firm is expected to report its next earnings results after the market closes on Thursday, April 29th.

According to Zacks, analysts expect that Kite Realty Group Trust will report full year sales of $270.20 million for the current year, with estimates ranging from $265.78 million to $274.31 million. For the next year, analysts forecast that the firm will report sales of $279.29 million, with estimates ranging from $276.33 million to $281.10 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Kite Realty Group Trust.

Kite Realty Group Trust (NYSE:KRG) last issued 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%.

A number of research firms have recently weighed in on KRG. Capital One Financial restated an “overweight” rating on shares of Kite Realty Group Trust in a research report on Monday, January 11th. Zacks Investment Research downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Thursday, February 18th. KeyCorp raised Kite Realty Group Trust from a “sector weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a research report on Wednesday, March 10th. TheStreet raised Kite Realty Group Trust from a “d+” rating to a “c-” rating in a research report on Wednesday, February 3rd. Finally, Wells Fargo & Company raised Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $14.00 to $17.00 in a research report on Thursday, December 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $14.67.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can lifted its stake in Kite Realty Group Trust by 1,195.4% in the third quarter. Great West Life Assurance Co. Can now owns 2,055,471 shares of the real estate investment trust’s stock valued at $7,088,000 after purchasing an additional 1,896,793 shares during the last quarter. Norges Bank bought a new position in shares of Kite Realty Group Trust in the fourth quarter worth $17,433,000. BlackRock Inc. increased its holdings in shares of Kite Realty Group Trust by 3.0% in the fourth quarter. BlackRock Inc. now owns 14,784,890 shares of the real estate investment trust’s stock worth $221,181,000 after purchasing an additional 433,698 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Kite Realty Group Trust by 178.5% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 662,780 shares of the real estate investment trust’s stock valued at $9,915,000 after acquiring an additional 424,780 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Kite Realty Group Trust by 54.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 910,600 shares of the real estate investment trust’s stock valued at $13,623,000 after acquiring an additional 320,500 shares during the last quarter. Hedge funds and other institutional investors own 88.97% of the company’s stock.

KRG stock traded down $0.24 during trading on Friday, hitting $19.50. The company had a trading volume of 13,325 shares, compared to its average volume of 577,545. The company has a fifty day moving average price of $19.64 and a two-hundred day moving average price of $15.47. 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 company has a market cap of $1.65 billion, a P/E ratio of 282.00, a P/E/G ratio of 10.08 and a beta of 1.39. Kite Realty Group Trust has a fifty-two week low of $7.21 and a fifty-two week high of $21.46.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be issued a dividend of $0.17 per share. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Wednesday, April 7th. Kite Realty Group Trust’s payout ratio is currently 36.14%.

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

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