Kite Realty Group Trust (KRG) Expected to Announce Quarterly Sales of $88.42 Million

Analysts expect that Kite Realty Group Trust (NYSE:KRG) will post $88.42 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Kite Realty Group Trust’s earnings, with the highest sales estimate coming in at $89.57 million and the lowest estimate coming in at $87.29 million. Kite Realty Group Trust reported sales of $90.11 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.9%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, April 25th.

On average, analysts expect that Kite Realty Group Trust will report full-year sales of $88.42 million for the current financial year, with estimates ranging from $351.49 million to $360.48 million. For the next fiscal year, analysts expect that the company will post sales of $364.93 million per share, with estimates ranging from $357.56 million to $371.16 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Kite Realty Group Trust.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Thursday, February 1st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $88.90 million during the quarter, compared to analyst estimates of $89.14 million. During the same quarter last year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year.

A number of equities research analysts have recently issued reports on KRG shares. Zacks Investment Research lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. DA Davidson lowered Kite Realty Group Trust from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Monday, February 5th. Bank of America lowered Kite Realty Group Trust from a “buy” rating to a “neutral” rating in a research note on Friday, February 2nd. ValuEngine lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Barclays lowered their target price on Kite Realty Group Trust from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Kite Realty Group Trust currently has a consensus rating of “Hold” and a consensus price target of $20.33.

In related news, CAO Thomas R. Olinger sold 3,157 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $19.01, for a total value of $60,014.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John A. Kite sold 17,000 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $20.09, for a total value of $341,530.00. Following the completion of the transaction, the chief executive officer now directly owns 52,712 shares of the company’s stock, valued at approximately $1,058,984.08. The disclosure for this sale can be found here. Insiders sold 25,157 shares of company stock valued at $497,645 in the last three months. 1.87% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Kite Realty Group Trust by 11.8% during the 4th quarter. BlackRock Inc. now owns 13,795,975 shares of the real estate investment trust’s stock worth $270,402,000 after buying an additional 1,455,741 shares during the last quarter. State Street Corp lifted its holdings in Kite Realty Group Trust by 1.7% during the 2nd quarter. State Street Corp now owns 3,348,017 shares of the real estate investment trust’s stock worth $63,381,000 after buying an additional 57,564 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Kite Realty Group Trust by 10.9% during the 3rd quarter. Macquarie Group Ltd. now owns 2,343,832 shares of the real estate investment trust’s stock worth $47,463,000 after buying an additional 230,507 shares during the last quarter. American Century Companies Inc. lifted its holdings in Kite Realty Group Trust by 13.7% during the 4th quarter. American Century Companies Inc. now owns 1,713,133 shares of the real estate investment trust’s stock worth $33,577,000 after buying an additional 206,839 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Kite Realty Group Trust by 1.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,620,011 shares of the real estate investment trust’s stock worth $31,752,000 after buying an additional 27,535 shares during the last quarter. 93.84% of the stock is owned by hedge funds and other institutional investors.

Shares of Kite Realty Group Trust (KRG) opened at $14.64 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 1.09. Kite Realty Group Trust has a 12 month low of $13.90 and a 12 month high of $23.59. The stock has a market capitalization of $1,233.19, a PE ratio of 7.23, a PEG ratio of 1.72 and a beta of 0.42.

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

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