Kite Realty raises 2022 same-property NOI growth guidance to 3.50%-4.50%

KITE REALTY GROUP TRUST

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

Raised 2022 same-property NOI growth guidance to 3.50%-4.50%, up 125 bps; bad debt forecast cut to 1.00%.
Signed 68 leases in Q2 for $12M annualized NOI; signed-not-open pipeline of $41M, 66% commencing in 2022.
Pro forma Net Debt/EBITDA 5.3x; $1.1B revolver available; no 2022 debt maturities after new term loan.
Portfolio 67% in Sun Belt, 59% grocery-anchored, 44% of ABR from essential-use tenants.

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