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STOCKS JUMP AFTER U.S. INFLATION REPORT RELEASE

Roundhill Magnificent Seven ETF hit all-time high on Wednesday

Here's What Key Metrics Tell Us About Kite Realty Group (KRG) Q1 Earnings

Zacks Equity Research
·2 min read

For the quarter ended March 2024, Kite Realty Group (KRG) reported revenue of $207.44 million, up 0.3% over the same period last year. EPS came in at $0.50, compared to $0.02 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $207.86 million, representing a surprise of -0.20%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.50.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Kite Realty Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue- Rental income: $205.81 million compared to the $204.68 million average estimate based on three analysts. The reported number represents a change of +1.4% year over year.

  • Revenue- Tenant recoveries: $43.35 million compared to the $42.62 million average estimate based on two analysts. The reported number represents a change of +2.9% year over year.

  • Revenue- Minimum rent: $151.01 million versus the two-analyst average estimate of $159.76 million. The reported number represents a year-over-year change of +3.2%.

  • Net Earnings Per Share (Diluted): $0.06 versus the three-analyst average estimate of $0.04.

View all Key Company Metrics for Kite Realty Group here>>>

Shares of Kite Realty Group have returned +2.4% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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To read this article on Zacks.com click here.

Zacks Investment Research