Kite Realty Group Trust (KRG) Releases Earnings Results, Beats Expectations By $0.01 EPS

Kite Realty Group Trust (KRG) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.52 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.51. The company posted revenue of $87.57 million in the period, compared to analysts expectations of $87.38 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on Kite Realty Group Trust. Barclays Initiated Kite Realty Group Trust on Jul 22, 2016 to “Overweight”, Price Target of the shares are set at $33.Kite Realty Group Trust was Downgraded by Raymond James to ” Outperform” on May 2, 2016.

Kite Realty Group Trust opened for trading at $29.9 and hit $30.42 on the upside on Thursday, eventually ending the session at $30.28, with a gain of 1.30% or 0.39 points. The heightened volatility saw the trading volume jump to 5,82,270 shares. Company has a market cap of $2,524 M.

In a different news, on Feb 12, 2016, Thomas R Olinger (Senior VP & CAO) sold 2,283 shares at $26.36 per share price. According to the SEC, on Dec 3, 2015, John A Kite (Chairman & CEO) sold 10,000 shares at $27.11 per share price.

Kite Realty Group Trust is a full-service vertically integrated real estate company engaged in the ownership and operation acquisition development and redevelopment of neighborhood and community shopping centers in the United States. The Company conducts all of its business through its operating partnership Kite Realty Group L.P. (KRG). The Company held a 98.1% interest in KRG with limited partners owning the remaining 1.9%. The Company owns interests in 118 retail operating properties totaling approximately 23.9 million square feet of gross leasable area (including approximately 7.7 million square feet of non-owned anchor space) located in 26 states. Its retail operating portfolio was 94.8% leased to a diversified retail tenant base with no single retail tenant accounting for more than 3.4% of its total annualized base rent.

Kite Realty Group Trust

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