Analysts Expect Kite Realty Group Trust (KRG) to Post $0.50 Earnings Per Share
Wall Street brokerages expect Kite Realty Group Trust (NYSE:KRG) to announce $0.50 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Kite Realty Group Trust’s earnings, with estimates ranging from $0.50 to $0.51. Kite Realty Group Trust posted earnings of $0.04 per share during the same quarter last year, which would suggest a positive year over year growth rate of 1,150%. The firm is expected to report its next earnings report on Thursday, February 1st.
According to Zacks, analysts expect that Kite Realty Group Trust will report full-year earnings of $2.04 per share for the current year, with EPS estimates ranging from $2.04 to $2.05. For the next fiscal year, analysts forecast that the company will report earnings of $2.09 per share, with EPS estimates ranging from $2.04 to $2.12. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Kite Realty Group Trust.
Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.49. The firm had revenue of $87.10 million for the quarter, compared to analyst estimates of $88.16 million. Kite Realty Group Trust had a return on equity of 0.80% and a net margin of 3.60%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.52 EPS.
Shares of Kite Realty Group Trust (NYSE KRG) opened at $18.88 on Thursday. The firm has a market capitalization of $1,640.00, a P/E ratio of 9.72, a PEG ratio of 2.08 and a beta of 0.61. Kite Realty Group Trust has a 1 year low of $17.60 and a 1 year high of $25.01. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.84.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, January 5th will be given a dividend of $0.3175 per share. The ex-dividend date is Thursday, January 4th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.30. This represents a $1.27 annualized dividend and a dividend yield of 6.73%. Kite Realty Group Trust’s payout ratio is currently 806.67%.
In related news, CAO Thomas R. Olinger sold 3,157 shares of Kite Realty Group Trust stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.01, for a total transaction of $60,014.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.87% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRG. Sorin Capital Management LLC purchased a new position in Kite Realty Group Trust during the second quarter valued at $16,845,000. Macquarie Group Ltd. raised its stake in Kite Realty Group Trust by 51.5% during the second quarter. Macquarie Group Ltd. now owns 2,113,325 shares of the real estate investment trust’s stock valued at $40,006,000 after buying an additional 718,197 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Kite Realty Group Trust by 55.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,218,437 shares of the real estate investment trust’s stock valued at $24,674,000 after buying an additional 436,465 shares during the last quarter. Prudential PLC purchased a new position in Kite Realty Group Trust during the second quarter valued at $7,824,000. Finally, Timbercreek Asset Management Ltd. purchased a new position in Kite Realty Group Trust during the second quarter valued at $6,527,000. Institutional investors own 94.42% 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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