Brokerages expect Kite Realty Group Trust (NYSE:KRG) to report $86.75 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Kite Realty Group Trust’s earnings. The highest sales estimate is $88.21 million and the lowest is $85.98 million. Kite Realty Group Trust posted sales of $88.92 million in the same quarter last year, which suggests a negative year over year growth rate of 2.4%. The firm is expected to announce its next earnings results on Thursday, February 7th.
According to Zacks, analysts expect that Kite Realty Group Trust will report full year sales of $352.81 million for the current year, with estimates ranging from $350.99 million to $353.85 million. For the next financial year, analysts anticipate that the firm will report sales of $348.00 million, with estimates ranging from $338.27 million to $353.15 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Kite Realty Group Trust.
KRG has been the subject of several recent research reports. Zacks Investment Research upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Citigroup boosted their price target on Kite Realty Group Trust from $16.50 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, August 16th. Finally, Robert W. Baird cut Kite Realty Group Trust from an “outperform” rating to a “neutral” rating and set a $17.00 price target for the company. in a research note on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Kite Realty Group Trust presently has an average rating of “Hold” and an average price target of $17.83.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Martingale Asset Management L P raised its position in Kite Realty Group Trust by 42.7% during the third quarter. Martingale Asset Management L P now owns 157,111 shares of the real estate investment trust’s stock valued at $2,616,000 after purchasing an additional 47,033 shares in the last quarter. Bank of New York Mellon Corp raised its position in Kite Realty Group Trust by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 1,426,199 shares of the real estate investment trust’s stock valued at $23,746,000 after purchasing an additional 40,020 shares in the last quarter. AXA raised its position in Kite Realty Group Trust by 29.2% during the third quarter. AXA now owns 345,683 shares of the real estate investment trust’s stock valued at $5,756,000 after purchasing an additional 78,091 shares in the last quarter. Zeke Capital Advisors LLC acquired a new position in Kite Realty Group Trust during the third quarter valued at approximately $398,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Kite Realty Group Trust by 11.2% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 90,774 shares of the real estate investment trust’s stock valued at $1,511,000 after purchasing an additional 9,114 shares in the last quarter. Institutional investors and hedge funds own 90.85% of the company’s stock.
Shares of KRG stock traded down $0.16 during trading on Wednesday, hitting $16.25. The company had a trading volume of 358,737 shares, compared to its average volume of 523,846. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The stock has a market cap of $1.37 billion, a P/E ratio of 8.07, a price-to-earnings-growth ratio of 1.89 and a beta of 0.50. Kite Realty Group Trust has a one year low of $13.87 and a one year high of $20.24.
The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, October 5th were paid a $0.3175 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a dividend yield of 7.82%. The ex-dividend date was Thursday, October 4th. Kite Realty Group Trust’s payout ratio is 62.25%.
Kite Realty Group Trust Company Profile
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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