$73.05 Million in Sales Expected for Kite Realty Group Trust (NYSE:KRG) This Quarter

Wall Street analysts expect that Kite Realty Group Trust (NYSE:KRG) will announce $73.05 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Kite Realty Group Trust’s earnings, with estimates ranging from $71.65 million to $74.80 million. Kite Realty Group Trust posted sales of $86.94 million during the same quarter last year, which suggests a negative year-over-year growth rate of 16%. The firm is expected to report its next quarterly earnings results after the market closes on Tuesday, February 18th.

According to Zacks, analysts expect that Kite Realty Group Trust will report full year sales of $311.19 million for the current fiscal year, with estimates ranging from $307.50 million to $313.50 million. For the next fiscal year, analysts expect that the business will report sales of $290.43 million, with estimates ranging from $283.73 million to $299.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Kite Realty Group Trust.

KRG has been the topic of several recent research reports. ValuEngine raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th. Zacks Investment Research downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Sandler O’Neill raised Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Bank of America raised Kite Realty Group Trust from an “underperform” rating to a “neutral” rating in a research note on Monday, January 6th. Finally, Compass Point raised Kite Realty Group Trust from a “sell” rating to a “neutral” rating and set a $19.50 target price on the stock in a research note on Friday, December 27th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $19.00.

Shares of NYSE KRG traded down $0.09 during mid-day trading on Friday, hitting $17.75. The company had a trading volume of 407,400 shares, compared to its average volume of 571,518. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -31.70 and a beta of 0.95. Kite Realty Group Trust has a 12 month low of $14.03 and a 12 month high of $19.77. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.17 and a quick ratio of 1.17. The firm’s 50 day simple moving average is $18.45 and its two-hundred day simple moving average is $17.18.

In related news, CEO John A. Kite sold 12,500 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $18.78, for a total transaction of $234,750.00. Following the transaction, the chief executive officer now directly owns 26,110 shares in the company, valued at $490,345.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.07% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC acquired a new position in Kite Realty Group Trust in the fourth quarter valued at $49,000. PNC Financial Services Group Inc. lifted its position in Kite Realty Group Trust by 35.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,785 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 1,247 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Kite Realty Group Trust by 34.7% during the third quarter. Russell Investments Group Ltd. now owns 9,458 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 2,438 shares during the last quarter. First Midwest Bank Trust Division acquired a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $213,000. Finally, Fox Run Management L.L.C. acquired a new stake in Kite Realty Group Trust during the third quarter worth approximately $207,000. Hedge funds and other institutional investors own 90.53% 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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