Analysts predict that Kite Realty Group Trust (NYSE:KRG) will report earnings per share (EPS) of $0.48 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Kite Realty Group Trust’s earnings, with estimates ranging from $0.47 to $0.50. Kite Realty Group Trust posted earnings of $0.49 per share in the same quarter last year, which suggests a negative year over year growth rate of 2%. The business is expected to announce its next quarterly earnings results on Thursday, October 25th.
On average, analysts expect that Kite Realty Group Trust will report full year earnings of $2.00 per share for the current financial year, with EPS estimates ranging from $1.99 to $2.01. For the next fiscal year, analysts anticipate that the company will report earnings of $1.99 per share, with EPS estimates ranging from $1.94 to $2.03. Zacks Investment Research’s earnings per share averages 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 issued its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.03. The company had revenue of $91.70 million for the quarter, compared to analyst estimates of $88.08 million. Kite Realty Group Trust had a negative net margin of 4.92% and a negative return on equity of 1.14%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share.
Shares of Kite Realty Group Trust stock opened at $16.24 on Monday. Kite Realty Group Trust has a one year low of $13.87 and a one year high of $20.71. The stock has a market cap of $1.37 billion, a PE ratio of 7.96, a P/E/G ratio of 1.90 and a beta of 0.58. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.84 and a quick ratio of 0.84.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, October 5th will be issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.82%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, October 4th. Kite Realty Group Trust’s dividend payout ratio is 62.25%.
In related news, CEO John A. Kite sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $17.42, for a total value of $609,700.00. Following the completion of the transaction, the chief executive officer now directly owns 68,588 shares of the company’s stock, valued at $1,194,802.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.93% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its holdings in Kite Realty Group Trust by 16.1% in the first quarter. Russell Investments Group Ltd. now owns 130,003 shares of the real estate investment trust’s stock valued at $1,980,000 after purchasing an additional 18,001 shares in the last quarter. Martingale Asset Management L P boosted its holdings in shares of Kite Realty Group Trust by 140.3% in the second quarter. Martingale Asset Management L P now owns 110,078 shares of the real estate investment trust’s stock valued at $1,881,000 after acquiring an additional 64,262 shares during the period. Dupont Capital Management Corp acquired a new stake in shares of Kite Realty Group Trust in the second quarter valued at approximately $2,464,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Kite Realty Group Trust in the second quarter valued at approximately $2,281,000. Finally, Swiss National Bank boosted its holdings in shares of Kite Realty Group Trust by 3.3% in the first quarter. Swiss National Bank now owns 145,600 shares of the real estate investment trust’s stock valued at $2,217,000 after acquiring an additional 4,700 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.
About Kite Realty Group Trust
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 open-air shopping centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders.
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