Kite Realty Q2 FFO as adj $0.49/shr (+44% YoY); raises 2022 guidance to $1.80-$1.86

KITE REALTY GROUP TRUST

2022-Q2 EPS reported -$0.02 revenue$396,996,000

Net income $13.1M ($0.06/dil) vs loss $0.2M; FFO as adj $0.49/shr, up 44% YoY.
Leased 1.2M sq ft at 13.2% blended cash leasing spreads; same-property NOI +3.8%.
Acquired Palms Plaza (Boca Raton) for $35.8M; sold Plaza Del Lago for $58.7M.
Upsized credit facility to $1.1B; issued $300M 7-yr term loan at ~3.95%.
Raised 2022 FFO as adj guidance to $1.80-$1.86/shr from $1.74-$1.80; same-property NOI guidance raised to 3.5%-4.5%.

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