Loading...
•
Dec 31, 2021
Kite Realty Q4 2021 Earnings Report
Reported strong operating results and completed transformative merger with RPAI.
Key Takeaways
Kite Realty Group Trust reported a net loss attributable to common shareholders of $98.2 million, or $0.52 per diluted share, for the fourth quarter. However, same Property Net Operating Income (NOI) increased by 7.2% (excluding legacy RPAI properties). The company executed 132 new and renewal leases representing over 927,000 square feet and the retail portfolio percent leased was 93.4% at December 31, 2021, a sequential increase of 60 basis points.
Executed 132 new and renewal leases representing over 927,000 square feet.
Same Property Net Operating Income (NOI) increased by 7.2% (excluding legacy RPAI properties).
Retail portfolio percent leased of 93.4% at December 31, 2021, a sequential increase of 60 basis points.
Operating retail portfolio annualized base rent (ABR) per square foot of $19.36 at December 31, 2021, a 5% increase year-over-year.
Revenue by Segment
Forward Guidance
KRG expects to generate FFO, as adjusted, of $1.69 to $1.75 per diluted share in 2022, based, in part, on the following key assumptions at the midpoint: 2022 same property NOI, which excludes prior period adjustments, however, includes RPAI same-property pool acquired in the merger, of 2.0%. Bad debt of 1.5% of total revenues. Any transaction activity is expected to be earnings neutral.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...