Wall Street brokerages forecast that Kite Realty Group Trust (NYSE:KRG) will post $88.46 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Kite Realty Group Trust’s earnings, with estimates ranging from $87.29 million to $89.57 million. Kite Realty Group Trust posted sales of $90.11 million in the same quarter last year, which would indicate a negative year over year growth rate of 1.8%. The company is scheduled to report its next earnings results after the market closes on Wednesday, April 25th.
According to Zacks, analysts expect that Kite Realty Group Trust will report full year sales of $88.46 million for the current year, with estimates ranging from $351.49 million to $360.48 million. For the next year, analysts expect that the firm will report sales of $362.97 million per share, with estimates ranging from $357.56 million to $371.16 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Kite Realty Group Trust.
Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Thursday, February 1st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. Kite Realty Group Trust had a net margin of 3.31% and a return on equity of 0.74%. The company had revenue of $88.90 million for the quarter, compared to the consensus estimate of $89.14 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue was up .0% compared to the same quarter last year.
NYSE:KRG opened at $15.22 on Friday. Kite Realty Group Trust has a 52-week low of $13.90 and a 52-week high of $22.34. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.09. The stock has a market cap of $1,306.66, a PE ratio of 7.46, a P/E/G ratio of 1.84 and a beta of 0.47.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, April 6th will be paid a $0.3175 dividend. The ex-dividend date is Thursday, April 5th. This represents a $1.27 dividend on an annualized basis and a yield of 8.34%. Kite Realty Group Trust’s payout ratio is currently 62.25%.
In other Kite Realty Group Trust news, Director Charles H. Wurtzebach bought 6,600 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average price of $14.65 per share, with a total value of $96,690.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William E. Bindley bought 100,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was acquired at an average cost of $15.06 per share, for a total transaction of $1,506,000.00. Following the purchase, the director now owns 85,014 shares of the company’s stock, valued at $1,280,310.84. The disclosure for this purchase can be found here. Insiders own 1.87% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zions Bancorporation acquired a new position in Kite Realty Group Trust in the third quarter valued at about $111,000. Certified Advisory Corp acquired a new position in Kite Realty Group Trust in the fourth quarter valued at about $137,000. Xact Kapitalforvaltning AB acquired a new position in Kite Realty Group Trust in the fourth quarter valued at about $202,000. Schroder Investment Management Group acquired a new position in Kite Realty Group Trust in the third quarter valued at about $223,000. Finally, Cetera Advisors LLC acquired a new position in Kite Realty Group Trust in the third quarter valued at about $223,000. 95.22% of the stock is currently owned by institutional investors and hedge funds.
Kite Realty Group Trust Company Profile
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) engaged primarily in the ownership and operation, acquisition, development and redevelopment of high-quality neighborhood and community shopping centers in select markets in the United States. As of December 31, 2017, we owned interests in 117 operating and redevelopment properties totaling approximately 23.3 million square feet and two development projects currently under construction.
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