Kite Realty raises 2024 SSNOI growth guidance to 1.5%-2.5%; gets Moody's upgrade to Baa2

KITE REALTY GROUP TRUST

Moody's upgraded KRG to Baa2 with stable outlook; Fitch outlook raised to positive.
Same property NOI growth guidance raised to 1.5%-2.5% (midpoint up 50 bps).
Full-year bad debt assumption lowered to 0.55%-1.05% of total revenues.
Signed-not-open pipeline grew to $32.3M; 38 new leases signed in Q1 2024.
Net debt to Adjusted EBITDA at 5.1x; available liquidity ~$1.2B; weighted avg interest rate 3.9%.

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