Kite Realty Group Trust (KRG) Issues FY 2018 Earnings Guidance

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Kite Realty Group Trust (NYSE:KRG) issued an update on its FY 2018 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.98-2.01 for the period.

Shares of NYSE KRG traded down $0.25 during midday trading on Wednesday, hitting $15.84. 620,739 shares of the company’s stock were exchanged, compared to its average volume of 672,084. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.04. The company has a market cap of $1.30 billion, a PE ratio of 7.76, a P/E/G ratio of 1.84 and a beta of 0.58. Kite Realty Group Trust has a twelve month low of $13.87 and a twelve month high of $20.24.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.03. The business had revenue of $91.70 million during the quarter, compared to the consensus estimate of $88.08 million. Kite Realty Group Trust had a negative return on equity of 1.14% and a negative net margin of 4.92%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share. Sell-side analysts forecast that Kite Realty Group Trust will post 2 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, October 5th were given a dividend of $0.3175 per share. The ex-dividend date was Thursday, October 4th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a dividend yield of 8.02%. Kite Realty Group Trust’s payout ratio is currently 62.25%.

A number of equities research analysts have weighed in on KRG shares. Citigroup upped their target price on Kite Realty Group Trust from $16.50 to $17.00 and gave the stock a neutral rating in a research report on Thursday, August 16th. Zacks Investment Research downgraded Kite Realty Group Trust from a hold rating to a sell rating in a research report on Wednesday, July 11th. Finally, Robert W. Baird downgraded Kite Realty Group Trust from an outperform rating to a neutral rating and set a $17.00 target price for the company. in a research report on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $17.83.

In other Kite Realty Group Trust news, CEO John A. Kite sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $17.42, for a total value of $609,700.00. Following the completion of the sale, the chief executive officer now directly owns 68,588 shares in the company, valued at $1,194,802.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.93% 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 open-air shopping centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders.

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

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