Kite Realty Group Trust (NYSE:KRG) Expected to Post Quarterly Sales of $77.92 Million

Brokerages expect that Kite Realty Group Trust (NYSE:KRG) will announce $77.92 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Kite Realty Group Trust’s earnings. The lowest sales estimate is $73.80 million and the highest is $81.33 million. Kite Realty Group Trust reported sales of $85.75 million during the same quarter last year, which would suggest a negative year over year growth rate of 9.1%. The company is scheduled to issue its next quarterly earnings report on Wednesday, October 30th.

On average, analysts expect that Kite Realty Group Trust will report full year sales of $316.09 million for the current year, with estimates ranging from $301.51 million to $328.18 million. For the next year, analysts anticipate that the firm will report sales of $299.08 million, with estimates ranging from $284.25 million to $329.63 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Kite Realty Group Trust.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Kite Realty Group Trust had a negative net margin of 6.92% and a negative return on equity of 1.66%. The firm had revenue of $81.48 million during the quarter, compared to analysts’ expectations of $79.95 million. During the same period last year, the business earned $0.53 earnings per share. Kite Realty Group Trust’s revenue was down 11.2% compared to the same quarter last year.



Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Friday, June 14th. Compass Point assumed coverage on shares of Kite Realty Group Trust in a research report on Thursday. They set a “sell” rating and a $13.50 price objective for the company. ValuEngine cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, June 22nd. Citigroup set a $16.00 price objective on shares of Kite Realty Group Trust and gave the stock a “hold” rating in a research report on Monday, May 20th. Finally, DA Davidson restated a “neutral” rating on shares of Kite Realty Group Trust in a research report on Monday, July 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.63.

Kite Realty Group Trust stock traded up $0.08 during midday trading on Friday, hitting $14.64. 331,926 shares of the stock were exchanged, compared to its average volume of 511,811. Kite Realty Group Trust has a fifty-two week low of $13.66 and a fifty-two week high of $17.75. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 7.32, a PEG ratio of 1.84 and a beta of 0.81. The stock’s 50-day simple moving average is $15.37 and its 200 day simple moving average is $15.78. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.02.

Several institutional investors and hedge funds have recently made changes to their positions in KRG. Centersquare Investment Management LLC grew its holdings in shares of Kite Realty Group Trust by 150,278.3% in the first quarter. Centersquare Investment Management LLC now owns 630,085 shares of the real estate investment trust’s stock valued at $10,075,000 after purchasing an additional 629,666 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Kite Realty Group Trust in the first quarter valued at approximately $174,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $341,000. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Kite Realty Group Trust by 5.8% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 36,578 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 2,016 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Kite Realty Group Trust by 0.9% in the first quarter. Rhumbline Advisers now owns 258,906 shares of the real estate investment trust’s stock valued at $4,140,000 after purchasing an additional 2,394 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Kite Realty Group Trust Company Profile

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 neighborhood, community, and lifestyle centers.

Featured Story: What is a balanced fund?

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.