Kite Realty Group Q1 2023 FFO $0.51/share; raises full-year guidance to $1.92-$1.98

KITE REALTY GROUP TRUST

2023-Q1 EPS reported $0.02 revenue$206,750,000

Net income $5.4M ($0.02 diluted EPS) vs net loss of $16.8M in Q1 2022.
NAREIT FFO of $113.8M ($0.51/diluted share), up 11% YoY; guidance raised to $1.92-$1.98.
Same Property NOI increased 6.5% YoY; retail portfolio 94.8% leased, +120 bps YoY.
Dividend declared $0.24/share (14% YoY increase), payable July 14, record July 7.
Net debt to Adjusted EBITDA 5.3x; repaid $161.5M mortgages, new $95.1M mortgage at 5.36%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KITE REALTY GROUP TRUST reported the quarter ended March 31, 2023 results: net income net income attributable to common shareholders was $5.4 million, or $0.02 per diluted share, EPS $0.02 per diluted share. Guidance raised.

Period: the quarter ended March 31, 2023
Net income: net income attributable to common shareholders was $5.4 million, or $0.02 per diluted share
EPS: $0.02 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Kite Realty Group Trust Reports First Quarter 2023 Operating Results Indianapolis, Indiana, May 1, 2023 – Kite Realty Group Trust (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored neighborhood and community centers, along with vibrant mixed-use assets, reported today its operating results for the first quarter ended March 31, 2023. For the quarters ended March 31, 2023 and 2022, net income attributable to common shareholders was $5.4 million, or $0.02 per diluted share, compared to net loss of $16.8 million, or $0.08 per diluted share, respectively.

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Source: SEC EDGAR

accession 0001286043-23-000039

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