Analysts expect Kite Realty Group Trust (NYSE:KRG) to post $0.48 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have issued estimates for Kite Realty Group Trust’s earnings. The lowest EPS estimate is $0.47 and the highest is $0.48. Kite Realty Group Trust posted earnings per share of $0.50 during the same quarter last year, which suggests a negative year over year growth rate of 4%. The business is expected to report its next earnings results on Thursday, February 7th.
On average, analysts expect that Kite Realty Group Trust will report full-year earnings of $2.00 per share for the current fiscal year, with EPS estimates ranging from $1.99 to $2.01. For the next fiscal year, analysts forecast that the company will report earnings of $1.95 per share, with EPS estimates ranging from $1.84 to $2.03. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Kite Realty Group Trust.
KRG has been the subject of several recent research reports. Zacks Investment Research raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Robert W. Baird lowered shares of Kite Realty Group Trust from an “outperform” rating to a “neutral” rating and set a $17.00 target price for the company. in a report on Wednesday, October 24th. Finally, Citigroup lifted their target price on shares of Kite Realty Group Trust from $16.50 to $17.00 and gave the company a “neutral” rating in a report on Thursday, August 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $17.83.
The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, October 5th were issued a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.82%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, October 4th. Kite Realty Group Trust’s payout ratio is 62.25%.
In related news, CEO John A. Kite sold 35,000 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $17.42, for a total value of $609,700.00. Following the completion of the sale, the chief executive officer now owns 68,588 shares of the company’s stock, valued at approximately $1,194,802.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.93% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Ramsey Quantitative Systems purchased a new stake in Kite Realty Group Trust in the 3rd quarter worth $366,000. Private Advisor Group LLC purchased a new stake in Kite Realty Group Trust in the 2nd quarter worth $212,000. Russell Investments Group Ltd. increased its holdings in Kite Realty Group Trust by 16.1% in the 1st quarter. Russell Investments Group Ltd. now owns 130,003 shares of the real estate investment trust’s stock worth $1,980,000 after acquiring an additional 18,001 shares in the last quarter. Bank of America Corp DE increased its holdings in Kite Realty Group Trust by 12.5% in the 2nd quarter. Bank of America Corp DE now owns 910,250 shares of the real estate investment trust’s stock worth $15,547,000 after acquiring an additional 101,111 shares in the last quarter. Finally, Martingale Asset Management L P increased its holdings in Kite Realty Group Trust by 140.3% in the 2nd quarter. Martingale Asset Management L P now owns 110,078 shares of the real estate investment trust’s stock worth $1,881,000 after acquiring an additional 64,262 shares in the last quarter. 90.85% of the stock is 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 tenants in desirable markets through our portfolio of open-air shopping centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders.
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