Wall Street brokerages predict that Kite Realty Group Trust (NYSE:KRG) will announce sales of $80.86 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Kite Realty Group Trust’s earnings. The lowest sales estimate is $76.95 million and the highest is $83.26 million. Kite Realty Group Trust posted sales of $91.74 million during the same quarter last year, which suggests a negative year-over-year growth rate of 11.9%. The company is expected to report its next quarterly earnings report after the market closes on Monday, August 5th.

On average, analysts expect that Kite Realty Group Trust will report full year sales of $317.02 million for the current financial year, with estimates ranging from $301.51 million to $332.81 million. For the next financial year, analysts forecast that the company will report sales of $301.25 million, with estimates ranging from $284.25 million to $340.44 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Kite Realty Group Trust.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Kite Realty Group Trust had a negative net margin of 6.59% and a negative return on equity of 1.59%. The business had revenue of $83.52 million during the quarter, compared to the consensus estimate of $81.50 million. During the same period in the prior year, the firm earned $0.51 EPS. Kite Realty Group Trust’s quarterly revenue was down 7.0% compared to the same quarter last year.

Several equities research analysts recently weighed in on the company. Citigroup set a $98.00 price target on Reliance Steel & Aluminum and gave the company a “hold” rating in a research report on Monday, May 20th. Zacks Investment Research downgraded shares of First Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, ValuEngine upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a research note on Saturday, June 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Kite Realty Group Trust has an average rating of “Hold” and a consensus price target of $16.33.

Shares of NYSE KRG traded down $0.06 during mid-day trading on Wednesday, hitting $15.12. 356,400 shares of the stock traded hands, compared to its average volume of 515,479. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.35 and a current ratio of 1.35. Kite Realty Group Trust has a 52 week low of $13.66 and a 52 week high of $17.75. The company has a market capitalization of $1.27 billion, a P/E ratio of 7.56, a price-to-earnings-growth ratio of 1.81 and a beta of 0.81. The stock has a fifty day moving average of $15.41.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 21st were issued a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.40%. Kite Realty Group Trust’s payout ratio is currently 63.50%.

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of Kite Realty Group Trust by 3.8% during the 4th quarter. BlackRock Inc. now owns 14,570,902 shares of the real estate investment trust’s stock valued at $205,305,000 after buying an additional 527,076 shares in the last quarter. Texas Permanent School Fund increased its stake in shares of Kite Realty Group Trust by 4.1% during the 4th quarter. Texas Permanent School Fund now owns 54,782 shares of the real estate investment trust’s stock worth $772,000 after purchasing an additional 2,137 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Kite Realty Group Trust by 24.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 64,293 shares of the real estate investment trust’s stock worth $906,000 after acquiring an additional 12,722 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of Kite Realty Group Trust by 6.4% in the 4th quarter. Advisor Group Inc. now owns 29,782 shares of the real estate investment trust’s stock valued at $420,000 after purchasing an additional 1,794 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Kite Realty Group Trust by 4.7% in the 4th quarter. Great West Life Assurance Co. Can now owns 164,162 shares of the real estate investment trust’s stock valued at $2,135,000 after purchasing an additional 7,415 shares during the last quarter. 91.72% of the stock is owned by institutional investors.

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: How do CD ladders protect against rising interest rates?

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.