Kite Realty Group Trust (NYSE:KRG) Expected to Announce Quarterly Sales of $66.44 Million

Brokerages expect that Kite Realty Group Trust (NYSE:KRG) will announce sales of $66.44 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Kite Realty Group Trust’s earnings, with the highest sales estimate coming in at $68.54 million and the lowest estimate coming in at $65.27 million. Kite Realty Group Trust reported sales of $69.91 million during the same quarter last year, which would suggest a negative year over year growth rate of 5%. The company is scheduled to issue its next earnings report after the market closes on Thursday, April 29th.

On average, 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 anticipate that the company will report sales of $279.29 million, with estimates ranging from $276.33 million to $281.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Kite Realty Group Trust.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Thursday, February 11th. The real estate investment trust reported ($0.08) earnings per share for the quarter, beating the 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%.

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

Large investors have recently bought and sold shares of the stock. Crescent Capital Consulting LLC bought a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at approximately $30,000. Acadian Asset Management LLC acquired a new stake in shares of Kite Realty Group Trust during the third quarter worth $31,000. International Assets Investment Management LLC bought a new position in Kite Realty Group Trust in the fourth quarter valued at $35,000. Kathmere Capital Management LLC bought a new position in Kite Realty Group Trust in the third quarter valued at $49,000. Finally, Van ECK Associates Corp grew its position in Kite Realty Group Trust by 33.2% in the fourth quarter. Van ECK Associates Corp now owns 3,337 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 832 shares in the last quarter. 88.97% of the stock is owned by hedge funds and other institutional investors.

KRG stock traded down $0.24 during midday trading on Friday, hitting $19.50. 13,325 shares of the company’s stock were exchanged, compared to its average volume of 577,545. Kite Realty Group Trust has a 1-year low of $7.21 and a 1-year high of $21.46. 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 business has a 50-day simple moving average of $19.64 and a two-hundred day simple moving average of $15.47. The stock has a market capitalization of $1.65 billion, a PE ratio of 282.00, a P/E/G ratio of 10.08 and a beta of 1.39.

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