Kite Realty Q3 net income $2.1M; raises 2023 FFO guidance to $1.99-$2.03; S&P outlook positive

KITE REALTY GROUP TRUST

2023-Q3 EPS reported $0.18 revenue$622,728,000

Net income $2.1M ($0.01 diluted EPS) vs net loss $7.8M (-$0.04) in Q3 2022.
Same Property NOI up 4.7% YoY; blended cash leasing spreads of 14.2% on 165 leases.
Raises 2023 NAREIT FFO guidance to $1.99-$2.03 (from $1.96-$2.00); SP NOI growth raised to 4.5%.
Acquired Prestonwood Place (Dallas) for $81.0M; sold Reisterstown Road Plaza for $48.3M.
S&P revised outlook to Positive from Stable; declared $0.25 Q4 dividend, 11.5% increase YoY.

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 0.95

KITE REALTY GROUP TRUST reported third quarter ended September 30, 2023 results: net income $2.1 million, or $0.01 per diluted share, EPS $0.01 per diluted share. Guidance raised.

Period: third quarter ended September 30, 2023
Net income: $2.1 million, or $0.01 per diluted share
EPS: $0.01 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Kite Realty Group Trust Reports Third Quarter 2023 Operating Results

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KITE REALTY GROUP TRUST reported 2023 results: net income $0.19 to $0.23 per diluted share. Guidance raised.

Period: 2023
Net income: $0.19 to $0.23 per diluted share
Guidance: raised
Result: guidance update

Exact text from the filing

The Company is raising its 2023 NAREIT FFO guidance range to $1.99 to $2.03 per diluted share from $1.96 to $2.00 per diluted share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KITE REALTY GROUP TRUST reported nine months ended September 30, 2023 results: net income $39.5 million, or $0.18 per diluted share, EPS $0.18 per diluted share. Guidance raised.

Period: nine months ended September 30, 2023
Net income: $39.5 million, or $0.18 per diluted share
EPS: $0.18 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

For the nine months ended September 30, 2023 and 2022, net income attributable to common shareholders was $39.5 million, or $0.18 per diluted share, compared to a net loss of $11.5 million, or $0.05 per diluted share, respectively.

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Source: SEC EDGAR

accession 0001286043-23-000121

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