Zacks: Analysts Expect Kite Realty Group Trust (NYSE:KRG) Will Post Quarterly Sales of $184.64 Million

Equities analysts predict that Kite Realty Group Trust (NYSE:KRGGet Rating) will announce sales of $184.64 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Kite Realty Group Trust’s earnings. The lowest sales estimate is $182.68 million and the highest is $186.60 million. Kite Realty Group Trust posted sales of $69.53 million during the same quarter last year, which would indicate a positive year over year growth rate of 165.6%. The business is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Kite Realty Group Trust will report full-year sales of $742.50 million for the current year, with estimates ranging from $733.69 million to $751.30 million. For the next year, analysts forecast that the company will post sales of $770.82 million, with estimates ranging from $757.73 million to $783.90 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Kite Realty Group Trust.

Kite Realty Group Trust (NYSE:KRGGet Rating) last posted its earnings results on Thursday, April 28th. The real estate investment trust reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.48). Kite Realty Group Trust had a negative return on equity of 4.77% and a negative net margin of 24.52%. During the same quarter in the prior year, the company earned $0.34 earnings per share.

A number of equities analysts recently commented on KRG shares. KeyCorp lifted their price target on shares of Kite Realty Group Trust from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, February 18th. StockNews.com started coverage on shares of Kite Realty Group Trust in a research note on Thursday, March 31st. They set a “sell” rating for the company. Zacks Investment Research cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Finally, Raymond James boosted their price objective on shares of Kite Realty Group Trust from $25.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Friday, March 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $25.71.

KRG stock opened at $21.01 on Thursday. Kite Realty Group Trust has a 12 month low of $18.42 and a 12 month high of $23.35. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $22.08 and a 200 day moving average price of $21.71. The stock has a market cap of $4.60 billion, a PE ratio of -30.90, a P/E/G ratio of 1.43 and a beta of 1.24.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, July 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, July 7th. This represents a $0.84 annualized dividend and a dividend yield of 4.00%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.20. Kite Realty Group Trust’s payout ratio is currently -117.65%.

Several large investors have recently bought and sold shares of KRG. Accel Wealth Management bought a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at about $31,000. Farmers & Merchants Investments Inc. bought a new position in shares of Kite Realty Group Trust during the 1st quarter worth approximately $33,000. EverSource Wealth Advisors LLC bought a new position in shares of Kite Realty Group Trust during the 4th quarter worth approximately $36,000. Covestor Ltd raised its stake in shares of Kite Realty Group Trust by 7,854.2% during the 1st quarter. Covestor Ltd now owns 1,909 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 1,885 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Kite Realty Group Trust by 2,050.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,129 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 2,030 shares in the last quarter. Institutional investors and hedge funds own 90.42% of the company’s stock.

About Kite Realty Group Trust (Get Rating)

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 retailers 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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