Zacks: Analysts Expect Kite Realty Group Trust (KRG) Will Announce Earnings of $0.50 Per Share

Wall Street brokerages expect Kite Realty Group Trust (NYSE:KRG) to announce $0.50 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Kite Realty Group Trust’s earnings, with the lowest EPS estimate coming in at $0.49 and the highest estimate coming in at $0.51. Kite Realty Group Trust reported earnings per share of $0.54 during the same quarter last year, which suggests a negative year over year growth rate of 7.4%. The company is scheduled to report its next quarterly earnings results on Wednesday, July 25th.

On average, analysts expect that Kite Realty Group Trust will report full year earnings of $2.00 per share for the current fiscal year, with EPS estimates ranging from $1.98 to $2.02. For the next year, analysts anticipate that the company will post earnings of $2.04 per share, with EPS estimates ranging from $2.02 to $2.06. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Kite Realty Group Trust.

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Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Wednesday, April 25th. The real estate investment trust reported $0.51 EPS for the quarter, beating the consensus estimate of $0.49 by $0.02. The business had revenue of $89.76 million for the quarter, compared to the consensus estimate of $88.38 million. Kite Realty Group Trust had a negative return on equity of 0.38% and a negative net margin of 1.69%. The company’s revenue was down .4% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS.

Several equities research analysts recently commented on KRG shares. Robert W. Baird reiterated a “buy” rating and set a $19.00 target price on shares of Kite Realty Group Trust in a report on Wednesday, March 21st. Barclays reiterated a “buy” rating and set a $20.00 target price on shares of Kite Realty Group Trust in a report on Thursday, March 8th. TheStreet downgraded Kite Realty Group Trust from a “c” rating to a “d+” rating in a report on Wednesday, April 25th. Sandler O’Neill set a $15.00 target price on Kite Realty Group Trust and gave the company a “hold” rating in a report on Tuesday, April 24th. Finally, ValuEngine downgraded Kite Realty Group Trust from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $18.57.

A number of hedge funds have recently bought and sold shares of KRG. Certified Advisory Corp purchased a new stake in Kite Realty Group Trust during the 4th quarter worth approximately $137,000. Bridgeworth LLC purchased a new stake in Kite Realty Group Trust during the 1st quarter worth approximately $171,000. SG Americas Securities LLC increased its holdings in Kite Realty Group Trust by 78.3% during the 1st quarter. SG Americas Securities LLC now owns 11,693 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 5,135 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in Kite Realty Group Trust during the 4th quarter worth approximately $202,000. Finally, Element Capital Management LLC purchased a new stake in Kite Realty Group Trust during the 1st quarter worth approximately $240,000. Institutional investors own 93.75% of the company’s stock.

Shares of NYSE:KRG remained flat at $$16.60 during mid-day trading on Tuesday. The company had a trading volume of 802,779 shares, compared to its average volume of 776,956. The stock has a market cap of $1.38 billion, a P/E ratio of 8.14, a P/E/G ratio of 1.93 and a beta of 0.51. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.08. Kite Realty Group Trust has a 1-year low of $13.87 and a 1-year high of $21.57.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, July 6th will be issued a dividend of $0.317 per share. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $1.27 annualized dividend and a yield of 7.64%. Kite Realty Group Trust’s dividend payout ratio is presently 62.25%.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) engaged primarily in the ownership and operation, acquisition, development and redevelopment of high-quality neighborhood and community shopping centers in select markets in the United States. As of December 31, 2017, we owned interests in 117 operating and redevelopment properties totaling approximately 23.3 million square feet and two development projects currently under construction.

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

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