Kite Realty raises FY 2024 same-property NOI growth guidance to 2.5%-3.0%

KITE REALTY GROUP TRUST

2024-Q3 EPS reported -$0.08 revenue$627,126,000

Same-property NOI growth guidance raised 25 bps at midpoint; full-year bad debt assumed at 0.6%-0.8% of revenue.
Q3 2024 leasing: 63 new leases representing $9.5M NOI; signed-not-open pipeline $32.6M (down $2.7M QoQ).
Credit upgrades in 2024: S&P to BBB, Moody's to Baa2; Fitch outlook positive.
Net debt to Adjusted EBITDA 5.1x; available liquidity ~$1.2B (excluding $350M deposits for March 2025 note maturity).
Anchor and shop leased percentages increased 20 bps and 40 bps sequentially; all-time high leasing volume at strong spreads.

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