Analysts Expect Kite Realty Group Trust (NYSE:KRG) to Announce $0.28 EPS

Wall Street brokerages forecast that Kite Realty Group Trust (NYSE:KRG) will report $0.28 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Kite Realty Group Trust’s earnings, with the highest EPS estimate coming in at $0.34 and the lowest estimate coming in at $0.16. Kite Realty Group Trust posted earnings of $0.43 per share in the same quarter last year, which would suggest a negative year over year growth rate of 34.9%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, August 5th.

On average, analysts expect that Kite Realty Group Trust will report full year earnings of $1.25 per share for the current financial year, with EPS estimates ranging from $0.91 to $1.39. For the next financial year, analysts forecast that the firm will report earnings of $1.35 per share, with EPS estimates ranging from $1.12 to $1.51. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Kite Realty Group Trust.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Wednesday, May 6th. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.39). The company had revenue of $69.91 million for the quarter, compared to analysts’ expectations of $70.80 million. Kite Realty Group Trust had a negative net margin of 2.09% and a negative return on equity of 0.48%.

A number of brokerages have recently issued reports on KRG. Zacks Investment Research raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Robert W. Baird cut their price objective on shares of Kite Realty Group Trust from $19.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Citigroup cut their price objective on shares of Kite Realty Group Trust from $19.50 to $8.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Compass Point downgraded shares of Kite Realty Group Trust from a “buy” rating to a “neutral” rating and cut their price objective for the company from $15.00 to $12.00 in a research report on Thursday, April 16th. Finally, Piper Sandler boosted their price objective on shares of Kite Realty Group Trust from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $14.29.

Shares of KRG stock traded down $0.04 during mid-day trading on Monday, reaching $11.26. 667,080 shares of the company’s stock traded hands, compared to its average volume of 790,310. Kite Realty Group Trust has a 12 month low of $6.87 and a 12 month high of $19.77. The firm has a 50 day moving average price of $10.81 and a two-hundred day moving average price of $13.86. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.60 and a current ratio of 3.60. The firm has a market capitalization of $950.53 million, a PE ratio of -140.75, a price-to-earnings-growth ratio of 6.89 and a beta of 1.24.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, July 2nd will be issued a $0.052 dividend. This represents a $0.21 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Wednesday, July 1st. Kite Realty Group Trust’s dividend payout ratio is currently 76.51%.

Institutional investors have recently modified their holdings of the stock. NewSquare Capital LLC bought a new position in Kite Realty Group Trust in the 1st quarter worth $46,000. Point72 Hong Kong Ltd purchased a new stake in Kite Realty Group Trust in the 4th quarter worth $66,000. PNC Financial Services Group Inc. lifted its stake in Kite Realty Group Trust by 35.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,785 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 1,247 shares in the last quarter. Fortem Financial Group LLC purchased a new stake in Kite Realty Group Trust in the 1st quarter worth $100,000. Finally, Sowa Financial Group Inc. purchased a new stake in Kite Realty Group Trust in the 4th quarter worth $113,000. 95.55% of the stock is owned by institutional investors.

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 neighborhood, community, and lifestyle centers.

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

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