Kite Realty Group Trust (NYSE:KRG) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03, Briefing.com reports. The firm had revenue of $92.65 million for the quarter, compared to analysts’ expectations of $88.42 million. Kite Realty Group Trust had a return on equity of 0.01% and a net margin of 0.05%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 EPS.
Shares of Kite Realty Group Trust (KRG) traded down 4.77% during trading on Friday, hitting $20.36. The stock had a trading volume of 1,140,272 shares. The stock’s market capitalization is $1.70 billion. Kite Realty Group Trust has a 52 week low of $17.60 and a 52 week high of $30.45. The firm has a 50 day moving average price of $19.04 and a 200-day moving average price of $20.85.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 13th. Stockholders of record on Thursday, July 6th were given a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date of this dividend was Monday, July 3rd. Kite Realty Group Trust’s payout ratio is 864.29%.
KRG has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Saturday, July 1st. BidaskClub upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. ValuEngine cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Barclays PLC cut their price target on Kite Realty Group Trust from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Kite Realty Group Trust presently has an average rating of “Buy” and an average target price of $26.86.
About Kite Realty Group Trust
Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.
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