Kite Realty Group Trust (NYSE:KRG) – Stock analysts at KeyCorp issued their Q1 2018 earnings estimates for Kite Realty Group Trust in a research note issued to investors on Tuesday. KeyCorp analyst T. Thomas forecasts that the real estate investment trust will post earnings of $0.50 per share for the quarter. KeyCorp also issued estimates for Kite Realty Group Trust’s Q2 2018 earnings at $0.50 EPS, Q3 2018 earnings at $0.51 EPS, Q4 2018 earnings at $0.51 EPS, FY2018 earnings at $2.02 EPS and FY2019 earnings at $2.07 EPS.
A number of other brokerages have also recently issued reports on KRG. Zacks Investment Research cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. DA Davidson cut Kite Realty Group Trust from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a report on Monday. Bank of America cut Kite Realty Group Trust from a “buy” rating to a “neutral” rating in a research note on Friday, February 2nd. ValuEngine cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Barclays dropped their price objective on Kite Realty Group Trust from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.33.
Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Thursday, February 1st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. Kite Realty Group Trust had a return on equity of 0.74% and a net margin of 3.31%. The company had revenue of $88.90 million for the quarter, compared to analysts’ expectations of $89.14 million. During the same period last year, the business earned $0.50 EPS. Kite Realty Group Trust’s quarterly revenue was up .0% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, January 5th were paid a dividend of $0.3175 per share. The ex-dividend date was Thursday, January 4th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.30. This represents a $1.27 annualized dividend and a yield of 8.76%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 907.14%.
In other news, CEO John A. Kite sold 17,000 shares of Kite Realty Group Trust stock in a transaction on Monday, December 18th. The stock was sold at an average price of $20.09, for a total transaction of $341,530.00. Following the sale, the chief executive officer now directly owns 52,712 shares in the company, valued at approximately $1,058,984.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Thomas R. Olinger sold 3,157 shares of Kite Realty Group Trust stock in a transaction on Monday, November 20th. The stock was sold at an average price of $19.01, for a total value of $60,014.57. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,157 shares of company stock worth $497,645. Company insiders own 1.87% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zions Bancorporation bought a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth $111,000. Perigon Wealth Management LLC raised its stake in shares of Kite Realty Group Trust by 58.1% during the 2nd quarter. Perigon Wealth Management LLC now owns 6,800 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 2,500 shares during the period. Meeder Asset Management Inc. raised its stake in shares of Kite Realty Group Trust by 374.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,126 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 5,623 shares during the period. Schroder Investment Management Group bought a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth $223,000. Finally, Cetera Advisors LLC bought a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth $223,000. Institutional investors own 94.65% of the company’s stock.
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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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