Zacks: Analysts Expect Kite Realty Group Trust (KRG) to Post $0.48 Earnings Per Share

Equities analysts expect Kite Realty Group Trust (NYSE:KRG) to report earnings per share (EPS) of $0.48 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Kite Realty Group Trust’s earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.48. Kite Realty Group Trust reported earnings per share of $0.50 in the same quarter last year, which would indicate a negative year-over-year growth rate of 4%. The business is scheduled to announce its next quarterly earnings report on Thursday, February 7th.

According to Zacks, 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 forecast that the company will post earnings of $1.95 per share, with EPS estimates ranging from $1.84 to $2.03. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Kite Realty Group Trust.

A number of analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. Citigroup increased their target price on shares of Kite Realty Group Trust from $16.50 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, August 16th. Finally, Robert W. Baird downgraded shares of Kite Realty Group Trust from an “outperform” rating to a “neutral” rating and set a $17.00 target price for the company. in a research report on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $17.83.

NYSE:KRG traded up $0.09 on Monday, reaching $16.40. 19,673 shares of the stock traded hands, compared to its average volume of 531,526. The company has a market capitalization of $1.35 billion, a PE ratio of 8.00, a P/E/G ratio of 1.87 and a beta of 0.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.89. Kite Realty Group Trust has a 1-year low of $13.87 and a 1-year high of $20.24.

The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, October 5th were given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.74%. The ex-dividend date of this dividend was Thursday, October 4th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.32. Kite Realty Group Trust’s dividend payout ratio is currently 62.25%.

In other Kite Realty Group Trust news, CEO John A. Kite sold 35,000 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $17.42, for a total transaction of $609,700.00. Following the completion of the sale, the chief executive officer now owns 68,588 shares of the company’s stock, valued at approximately $1,194,802.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.93% of the company’s stock.

Several hedge funds have recently made changes to their positions in KRG. BlackRock Inc. grew its position in shares of Kite Realty Group Trust by 5.9% during the 2nd quarter. BlackRock Inc. now owns 14,408,782 shares of the real estate investment trust’s stock worth $246,103,000 after buying an additional 799,164 shares during the period. LSV Asset Management acquired a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $10,850,000. Fuller & Thaler Asset Management Inc. grew its position in shares of Kite Realty Group Trust by 29.2% during the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 2,471,630 shares of the real estate investment trust’s stock worth $42,215,000 after buying an additional 558,212 shares during the period. Millennium Management LLC grew its position in shares of Kite Realty Group Trust by 355.7% during the 2nd quarter. Millennium Management LLC now owns 689,686 shares of the real estate investment trust’s stock worth $11,780,000 after buying an additional 538,326 shares during the period. Finally, Investment Counselors of Maryland LLC grew its position in shares of Kite Realty Group Trust by 29.5% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 1,643,109 shares of the real estate investment trust’s stock worth $28,064,000 after buying an additional 373,933 shares during the period. 90.85% of the stock is owned by 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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