Analysts expect that Kite Realty Group Trust (NYSE:KRG) will report sales of $86.72 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Kite Realty Group Trust’s earnings. The highest sales estimate is $88.52 million and the lowest is $85.38 million. Kite Realty Group Trust posted sales of $87.14 million during the same quarter last year, which indicates a negative year over year growth rate of 0.5%. The company is scheduled to announce its next earnings results after the market closes on Wednesday, October 31st.

On average, analysts expect that Kite Realty Group Trust will report full year sales of $354.53 million for the current year, with estimates ranging from $350.99 million to $359.67 million. For the next year, analysts expect that the firm will post sales of $354.49 million, with estimates ranging from $347.53 million to $365.40 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Kite Realty Group Trust.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.03. Kite Realty Group Trust had a negative return on equity of 1.14% and a negative net margin of 4.92%. The firm had revenue of $91.70 million during the quarter, compared to the consensus estimate of $88.08 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The business’s revenue was down 1.0% on a year-over-year basis.

Several brokerages have weighed in on KRG. ValuEngine downgraded Kite Realty Group Trust from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 27th. Zacks Investment Research downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. Finally, Citigroup upped their target price on Kite Realty Group Trust from $16.50 to $17.00 and gave the company a “neutral” rating in a report on Thursday, August 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $18.17.

Shares of KRG stock opened at $15.09 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.04. Kite Realty Group Trust has a fifty-two week low of $13.87 and a fifty-two week high of $20.71. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 7.54, a P/E/G ratio of 1.93 and a beta of 0.58.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, October 5th were issued a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.42%. The ex-dividend date of this dividend was Thursday, October 4th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.32. Kite Realty Group Trust’s dividend payout ratio is currently 62.25%.

In related news, CEO John A. Kite sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $17.42, for a total transaction of $609,700.00. Following the completion of the transaction, the chief executive officer now owns 68,588 shares in the company, valued at $1,194,802.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.93% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC bought a new position in shares of Kite Realty Group Trust during the second quarter valued at approximately $212,000. BB&T Securities LLC grew its stake in Kite Realty Group Trust by 36.2% in the second quarter. BB&T Securities LLC now owns 14,781 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 3,927 shares during the period. Element Capital Management LLC purchased a new stake in Kite Realty Group Trust in the first quarter worth $240,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Kite Realty Group Trust in the second quarter worth $302,000. Finally, Verition Fund Management LLC purchased a new stake in Kite Realty Group Trust in the first quarter worth $273,000. Institutional investors own 91.28% of the company’s stock.

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

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