other material
confidence high
sentiment positive
materiality 0.70
Kite Realty Group guides 2024 SSNOI growth 1.0%-2.0%, credit outlook upgraded to Positive
KITE REALTY GROUP TRUST
- 2024 same-property NOI growth guided at 1.0%-2.0%; bad debt assumed at 0.75%-1.25% of total revenues.
- Signed-not-open pipeline totals $31M; ~87% of that NOI expected to commence in 2024.
- Anchor and shop leased percentages up 40 bps and 60 bps sequentially in Q4 2023.
- S&P Global Ratings revised outlook to 'Positive'; available liquidity exceeds $1.1B.
- 2019-2023 FFO per share CAGR of 3.3%; net debt/EBITDA at 5.1x, recovery ratio 91.6%.