Kite Realty raises 2023 SSNOI guidance to 4.5%, lowers bad debt expectations

KITE REALTY GROUP TRUST

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

SSNOI growth guidance raised to 4.5% for FY 2023, a 100 bps increase.
Bad debt reserve expected at 45 bps of total revenues for FY 2023; Q4 2023 at 75 bps.
Blended cash leasing spreads of ~14% in Q3 2023 and trailing twelve months.
Net Debt to Adjusted EBITDA at 5.2x; over $1.1B of available liquidity.

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