Kite Realty Group Trust (KRG) Expected to Announce Earnings of $0.50 Per Share

Brokerages forecast that Kite Realty Group Trust (NYSE:KRG) will announce earnings per share of $0.50 for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Kite Realty Group Trust’s earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.50. Kite Realty Group Trust also reported earnings per share of $0.50 in the same quarter last year. The company is expected to announce its next quarterly earnings results after the market closes on Thursday, February 1st.

On average, analysts expect that Kite Realty Group Trust will report full year earnings of $2.04 per share for the current financial year, with EPS estimates ranging from $2.04 to $2.05. For the next fiscal year, analysts expect that the firm will post earnings of $2.08 per share, with EPS estimates ranging from $2.04 to $2.11. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Kite Realty Group Trust.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Thursday, October 26th. The real estate investment trust reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. The firm had revenue of $87.10 million for the quarter, compared to analyst estimates of $88.16 million. Kite Realty Group Trust had a return on equity of 0.80% and a net margin of 3.60%. Kite Realty Group Trust’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share.

Several equities analysts recently commented on the company. Zacks Investment Research lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Friday, December 8th. Capital One Financial restated an “equal weight” rating on shares of Kite Realty Group Trust in a research note on Tuesday, October 24th. Raymond James Financial restated an “outperform” rating and issued a $23.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a research note on Wednesday, December 20th. Finally, ValuEngine upgraded shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Kite Realty Group Trust presently has a consensus rating of “Hold” and a consensus price target of $23.80.

In other news, COO Thomas K. Mcgowan sold 5,000 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $19.22, for a total transaction of $96,100.00. Following the completion of the sale, the chief operating officer now owns 86,751 shares in the company, valued at $1,667,354.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Thomas R. Olinger sold 3,157 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $19.01, for a total transaction of $60,014.57. The disclosure for this sale can be found here. Insiders have sold 25,157 shares of company stock valued at $497,645 in the last quarter. Insiders own 1.87% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its holdings in Kite Realty Group Trust by 1.7% during the second quarter. State Street Corp now owns 3,348,017 shares of the real estate investment trust’s stock worth $63,381,000 after purchasing an additional 57,564 shares in the last quarter. Macquarie Group Ltd. raised its holdings in Kite Realty Group Trust by 10.9% during the third quarter. Macquarie Group Ltd. now owns 2,343,832 shares of the real estate investment trust’s stock worth $47,463,000 after purchasing an additional 230,507 shares in the last quarter. Northern Trust Corp raised its holdings in Kite Realty Group Trust by 4.4% during the second quarter. Northern Trust Corp now owns 1,767,415 shares of the real estate investment trust’s stock worth $33,456,000 after purchasing an additional 75,025 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Kite Realty Group Trust by 3.4% during the third quarter. Victory Capital Management Inc. now owns 1,592,476 shares of the real estate investment trust’s stock worth $32,248,000 after purchasing an additional 52,671 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Kite Realty Group Trust by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 1,299,861 shares of the real estate investment trust’s stock worth $26,324,000 after purchasing an additional 10,680 shares in the last quarter. 94.32% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust (KRG) opened at $18.35 on Wednesday. The company has a market capitalization of $1,579.09, a price-to-earnings ratio of 122.33, a P/E/G ratio of 2.02 and a beta of 0.63. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. Kite Realty Group Trust has a twelve month low of $17.60 and a twelve month high of $24.38.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, January 5th will be paid a dividend of $0.3175 per share. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, January 4th. This represents a $1.27 annualized dividend and a dividend yield of 6.92%. Kite Realty Group Trust’s dividend payout ratio is 846.67%.

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Kite Realty Group Trust Company Profile

Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.

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