Kite Realty Group Trust (NYSE:KRG) Releases FY19 Earnings Guidance

Kite Realty Group Trust (NYSE:KRG) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.63-1.67 for the period, compared to the Thomson Reuters consensus estimate of $1.65.

A number of brokerages have issued reports on KRG. Compass Point raised shares of Kite Realty Group Trust from a sell rating to a neutral rating and raised their target price for the stock from $13.50 to $14.50 in a report on Wednesday, September 4th. Zacks Investment Research cut shares of Kite Realty Group Trust from a hold rating to a sell rating in a report on Wednesday, October 9th. ValuEngine raised shares of Kite Realty Group Trust from a sell rating to a hold rating in a report on Friday, October 25th. DA Davidson reissued a neutral rating on shares of Kite Realty Group Trust in a report on Monday, July 29th. Finally, Barclays set a $16.00 target price on shares of Kite Realty Group Trust and gave the stock a hold rating in a report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $15.50.

NYSE KRG traded up $0.07 during trading hours on Friday, reaching $18.05. The company’s stock had a trading volume of 1,640 shares, compared to its average volume of 356,312. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.02. The business has a 50-day simple moving average of $16.74 and a 200 day simple moving average of $15.79. Kite Realty Group Trust has a 52 week low of $13.66 and a 52 week high of $18.50. The stock has a market cap of $1.53 billion, a PE ratio of 9.00, a PEG ratio of 2.25 and a beta of 0.84.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.04). The business had revenue of $74.94 million for the quarter, compared to the consensus estimate of $76.16 million. Kite Realty Group Trust had a negative net margin of 14.39% and a negative return on equity of 3.40%. The business’s quarterly revenue was down 12.6% on a year-over-year basis. During the same period last year, the firm posted $0.48 EPS. As a group, equities analysts predict that Kite Realty Group Trust will post 1.63 EPS for the current year.

In other news, CEO John A. Kite sold 17,000 shares of Kite Realty Group Trust stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $15.85, for a total transaction of $269,450.00. Following the sale, the chief executive officer now owns 30,610 shares of the company’s stock, valued at $485,168.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.07% of the company’s stock.

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 neighborhood, community, and lifestyle centers.

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

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