Zacks: Brokerages Anticipate Kite Realty Group Trust (KRG) to Announce $0.49 Earnings Per Share

Wall Street analysts expect that Kite Realty Group Trust (NYSE:KRG) will announce $0.49 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Kite Realty Group Trust’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.49. Kite Realty Group Trust reported earnings per share of ($0.02) during the same quarter last year, which would indicate a positive year over year growth rate of 2,550%. The company is scheduled to issue its next quarterly earnings report after the market closes on Thursday, October 26th.

On average, analysts expect that Kite Realty Group Trust will report full-year earnings of $2.05 per share for the current fiscal year, with EPS estimates ranging from $2.04 to $2.05. For the next fiscal year, analysts forecast that the firm will report earnings of $2.11 per share, with EPS estimates ranging from $2.08 to $2.12. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Kite Realty Group Trust.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. Kite Realty Group Trust had a return on equity of 0.73% and a net margin of 3.29%. The company had revenue of $92.65 million during the quarter, compared to the consensus estimate of $88.42 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company’s revenue was up 5.8% compared to the same quarter last year.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub raised Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. ValuEngine downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. KeyCorp reaffirmed a “hold” rating on shares of Kite Realty Group Trust in a research report on Friday, August 25th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $23.00 price target on shares of Kite Realty Group Trust in a research report on Thursday, August 24th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Kite Realty Group Trust presently has a consensus rating of “Buy” and an average target price of $25.33.

Shares of Kite Realty Group Trust (KRG) traded up 2.42% during midday trading on Tuesday, hitting $20.70. The stock had a trading volume of 78,211 shares. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 147.86 and a beta of 0.57. The firm has a 50-day moving average price of $20.24 and a 200-day moving average price of $19.91. Kite Realty Group Trust has a 1-year low of $17.60 and a 1-year high of $26.59.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, October 6th will be given a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date is Thursday, October 5th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 864.29%.

WARNING: This news story was first posted by TrueBlueTribune and is owned by of TrueBlueTribune. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright legislation. The correct version of this news story can be accessed at https://www.truebluetribune.com/2017/10/13/zacks-brokerages-anticipate-kite-realty-group-trust-krg-to-announce-0-49-earnings-per-share.html.

Hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its position in Kite Realty Group Trust by 13.6% during the second quarter. American Century Companies Inc. now owns 1,682,154 shares of the real estate investment trust’s stock worth $31,843,000 after buying an additional 202,026 shares in the last quarter. Prudential Financial Inc. grew its position in Kite Realty Group Trust by 13.6% during the first quarter. Prudential Financial Inc. now owns 283,371 shares of the real estate investment trust’s stock worth $6,092,000 after buying an additional 33,870 shares in the last quarter. IndexIQ Advisors LLC grew its position in Kite Realty Group Trust by 11.7% during the second quarter. IndexIQ Advisors LLC now owns 100,825 shares of the real estate investment trust’s stock worth $1,909,000 after buying an additional 10,589 shares in the last quarter. AXA grew its position in Kite Realty Group Trust by 205.3% during the second quarter. AXA now owns 224,410 shares of the real estate investment trust’s stock worth $4,249,000 after buying an additional 150,900 shares in the last quarter. Finally, Virginia Retirement Systems ET AL grew its position in Kite Realty Group Trust by 105.6% during the second quarter. Virginia Retirement Systems ET AL now owns 81,000 shares of the real estate investment trust’s stock worth $1,533,000 after buying an additional 41,600 shares in the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.

About Kite Realty Group Trust

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.

Get a free copy of the Zacks research report on Kite Realty Group Trust (KRG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Kite Realty Group Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kite Realty Group Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply