KRG reports 4.5% Q3 same property NOI growth; guides 45 bps bad debt for 2023

KITE REALTY GROUP TRUST

Same property NOI growth of 4.5% for Q3 2023, a 100 bps improvement.
Blended cash leasing spreads of ~14% on 67 new leases ($9M NOI) signed in Q3.
Signed-not-open pipeline flat at $27M; 35% from anchors, 65% from shops.
Full-year 2023 bad debt reserves guided to 45 bps of total revenues; Q4 at 75 bps.
S&P Global Ratings raised credit rating outlook to 'Positive'.

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