Kite Realty Group Trust (NYSE:KRG) Expected to Announce Quarterly Sales of $163.55 Million

Gladys T. Black

Equities analysts expect Kite Realty Group Trust (NYSE:KRGGet Rating) to announce sales of $163.55 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Kite Realty Group Trust’s earnings, with the highest sales estimate coming in at $165.00 million and the lowest estimate coming in at $162.10 million. Kite Realty Group Trust reported sales of $69.38 million during the same quarter last year, which suggests a positive year over year growth rate of 135.7%. The company is expected to issue its next earnings results after the market closes on Thursday, April 28th.

According to Zacks, analysts expect that Kite Realty Group Trust will report full-year sales of $662.95 million for the current financial year, with estimates ranging from $658.29 million to $667.60 million. For the next financial year, analysts anticipate that the business will post sales of $691.65 million, with estimates ranging from $680.00 million to $703.30 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Kite Realty Group Trust.

Kite Realty Group Trust (NYSE:KRGGet Rating) last announced its quarterly earnings results on Sunday, February 13th. The real estate investment trust reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.51). Kite Realty Group Trust had a negative return on equity of 4.27% and a negative net margin of 21.65%. During the same quarter in the previous year, the firm posted $0.33 earnings per share.

KRG has been the subject of several recent analyst reports. Robert W. Baird upgraded shares of Kite Realty Group Trust from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $21.00 to $24.00 in a research note on Thursday, January 13th. Zacks Investment Research upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, February 22nd. StockNews.com lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, February 16th. Raymond James upped their price target on shares of Kite Realty Group Trust from $25.00 to $27.00 and gave the company a “strong-buy” rating in a research note on Friday, March 11th. Finally, KeyCorp upped their price target on shares of Kite Realty Group Trust from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, February 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $25.86.

Shares of NYSE KRG traded down $0.51 during trading hours on Friday, hitting $21.89. 144,697 shares of the stock were exchanged, compared to its average volume of 1,720,064. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.80. The company has a market cap of $4.79 billion, a PE ratio of -71.13, a PEG ratio of 1.65 and a beta of 1.33. The firm has a fifty day moving average price of $21.66 and a 200-day moving average price of $21.38. Kite Realty Group Trust has a 12 month low of $18.37 and a 12 month high of $23.18.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 15th. Stockholders of record on Friday, April 8th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, April 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.65%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.19. Kite Realty Group Trust’s dividend payout ratio is presently -245.16%.

In other news, CEO John A. Kite sold 25,000 shares of the stock in a transaction on Tuesday, December 21st. The shares were sold at an average price of $20.93, for a total value of $523,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Kite Realty Group Trust by 109.9% during the fourth quarter. BlackRock Inc. now owns 30,549,057 shares of the real estate investment trust’s stock worth $665,358,000 after buying an additional 15,996,960 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Kite Realty Group Trust by 313.9% during the fourth quarter. JPMorgan Chase & Co. now owns 14,786,233 shares of the real estate investment trust’s stock worth $322,044,000 after buying an additional 11,213,604 shares in the last quarter. State Street Corp boosted its holdings in Kite Realty Group Trust by 153.9% during the fourth quarter. State Street Corp now owns 11,479,726 shares of the real estate investment trust’s stock worth $250,028,000 after buying an additional 6,958,610 shares in the last quarter. Deutsche Bank AG boosted its holdings in Kite Realty Group Trust by 7,126.2% during the fourth quarter. Deutsche Bank AG now owns 6,946,077 shares of the real estate investment trust’s stock worth $151,284,000 after buying an additional 6,849,953 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in Kite Realty Group Trust by 39.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 6,830,656 shares of the real estate investment trust’s stock worth $148,772,000 after buying an additional 1,917,550 shares in the last quarter. 54.37% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Company Profile (Get Rating)

Kite Realty Group Trust operates as a real estate investment trust. It engages in the ownership, operation, acquisition, development, and redevelopment of neighborhood and community shopping centers in selected markets in the United States. The company was founded on August 16, 2004 and is headquartered in Indianapolis, IN.

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