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Sep 30, 2021
Kite Realty Q3 2021 Earnings Report
Kite Realty reported third quarter results, highlighting robust demand for open-air retail and the completion of a transformative merger with RPAI.
Key Takeaways
Kite Realty Group Trust reported a net loss attributable to common shareholders of $7.0 million, or $0.08 per common share. However, Same-Property Net Operating Income (NOI) increased by 10.8%. The company also completed a transformative merger with RPAI subsequent to the quarter end.
Net loss attributable to common shareholders was $7.0 million, or $0.08 per common share.
NAREIT Funds From Operations of the Operating Partnership (FFO) was $22.3 million, or $0.25 per diluted common share.
Same-Property Net Operating Income (NOI) increased by 10.8%.
Retail leased percentage was 92.8%, a sequential increase of 130 basis points.
Revenue by Segment
Forward Guidance
Due to the timing of the merger, which closed in the fourth quarter, KRG is withdrawing 2021 guidance. The Company will issue 2022 earnings guidance, as a combined company, in conjunction with KRG’s fourth quarter earnings release.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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