KRG Q3 FFO as adj $0.48/dil (+45% YoY), same-property NOI +4.4%; raises 2022 guidance

KITE REALTY GROUP TRUST

2022-Q3 EPS reported -$0.05 revenue$597,307,000

Net loss $7.8M ($0.04/dil); FFO as adjusted $0.48/dil, +45% YoY per share.
Same-property NOI increased 4.4%; leased 1.6M sq ft (record) at 10.8% blended cash spreads.
Raised 2022 FFO guidance to $1.86-$1.90 from $1.80-$1.86; same-property NOI guidance upped to 4.0%-5.0%.
Acquired Palms Plaza for $35.8M; upsized revolver to $1.1B; issued $300M term loan at ~3.95% fixed for 3 years.
Retail portfolio 94.0% leased; ABR $19.86/sq ft (+7.1% YoY); signed-not-open NOI $38M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KITE REALTY GROUP TRUST reported the quarter ended September 30, 2022 results: net income Net loss attributable to common shareholders of $7.8 million, EPS $0.04 per diluted share.

Period: the quarter ended September 30, 2022
Net income: Net loss attributable to common shareholders of $7.8 million
EPS: $0.04 per diluted share
Result: reported results

Exact text from the filing

Net loss attributable to common shareholders of $7.8 million, or $0.04 per diluted share, compared to net loss of $7.0 million, or $0.08 per diluted share, for the quarters ended September 30, 2022 and 2021, respectively.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KITE REALTY GROUP TRUST updated its 2022 guidance (raised).

Period: 2022
Guidance: raised
Result: guidance update

Exact text from the filing

The Company is raising its 2022 guidance for FFO, as adjusted, by five cents at the midpoint to $1.86 to $1.90 per diluted share from $1.80 to $1.86 per diluted share

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Source: SEC EDGAR

accession 0001286043-22-000109

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