Kite Realty Q1 NAREIT FFO $0.50; raises 2024 guidance and dividend 4.2%

KITE REALTY GROUP TRUST

2024-Q1 EPS reported $0.06 revenue$207,439,000

Q1 NAREIT FFO of $112.8M ($0.50/diluted share); net income $14.2M vs $5.4M YoY.
Same-Property NOI up 1.8%; blended cash leasing spreads 12.8% on 1.0M sq ft leased.
2024 NAREIT FFO guidance raised to $2.02–$2.08 from $2.00–$2.06; SP NOI midpoint +50bps.
Q2 dividend $0.25/share (4.2% YoY increase); payable July 16, 2024.
Moody's upgraded KRG to Baa2/stable; issued $350M 5.50% senior notes due 2034.

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 0.9

KITE REALTY GROUP TRUST reported the first quarter ended March 31, 2024 results: net income net income attributable to common shareholders was $14.2 million, or $0.06 per diluted share. Guidance raised.

Period: the first quarter ended March 31, 2024
Net income: net income attributable to common shareholders was $14.2 million, or $0.06 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

For the quarters ended March 31, 2024 and 2023, net income attributable to common shareholders was $14.2 million, or $0.06 per diluted share, compared to $5.4 million, or $0.02 per diluted share, respectively.

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Source: SEC EDGAR

accession 0001286043-24-000036

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