$88.87 Million in Sales Expected for Kite Realty Group Trust (KRG) This Quarter

Analysts predict that Kite Realty Group Trust (NYSE:KRG) will announce $88.87 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Kite Realty Group Trust’s earnings. The lowest sales estimate is $87.61 million and the highest is $90.36 million. Kite Realty Group Trust reported sales of $89.12 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.3%. The firm is scheduled to report its next quarterly earnings results on Thursday, October 26th.

According to Zacks, analysts expect that Kite Realty Group Trust will report full year sales of $88.87 million for the current year, with estimates ranging from $356.30 million to $362.11 million. For the next year, analysts forecast that the company will post sales of $369.37 million per share, with estimates ranging from $366.66 million to $375.01 million. Zacks’ sales calculations are an average based on a survey of research analysts that follow Kite Realty Group Trust.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $92.65 million during the quarter, compared to the consensus estimate of $88.42 million. Kite Realty Group Trust had a return on equity of 0.73% and a net margin of 3.29%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS.

Several brokerages recently commented on KRG. BidaskClub upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, ValuEngine cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $26.86.

Kite Realty Group Trust (NYSE:KRG) traded down 1.04% on Thursday, hitting $19.94. The stock had a trading volume of 1,410,130 shares. The company has a market cap of $1.67 billion, a PE ratio of 142.43 and a beta of 0.57. The company has a 50-day moving average of $19.86 and a 200 day moving average of $20.50. Kite Realty Group Trust has a 12 month low of $17.60 and a 12 month high of $29.62.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, October 6th will be issued a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 6.07%. The ex-dividend date of this dividend is Thursday, October 5th. Kite Realty Group Trust’s payout ratio is currently 864.29%.

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Several institutional investors have recently made changes to their positions in KRG. Glen Harbor Capital Management LLC raised its position in shares of Kite Realty Group Trust by 18.6% in the first quarter. Glen Harbor Capital Management LLC now owns 4,648 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 728 shares during the period. SG Americas Securities LLC raised its position in shares of Kite Realty Group Trust by 11.5% in the second quarter. SG Americas Securities LLC now owns 5,394 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 557 shares during the period. Independent Portfolio Consultants Inc. raised its position in shares of Kite Realty Group Trust by 25.7% in the first quarter. Independent Portfolio Consultants Inc. now owns 5,078 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 1,039 shares during the period. Elkfork Partners LLC raised its position in shares of Kite Realty Group Trust by 18.6% in the first quarter. Elkfork Partners LLC now owns 5,644 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 884 shares during the period. Finally, Riverhead Capital Management LLC raised its position in shares of Kite Realty Group Trust by 64.1% in the second quarter. Riverhead Capital Management LLC now owns 6,727 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 2,627 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

About Kite Realty Group Trust

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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Earnings History and Estimates for Kite Realty Group Trust (NYSE:KRG)

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