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Dec 31, 2023
Kite Realty Q4 2023 Earnings Report
Kite Realty reported increased NAREIT FFO per share and executed new and renewal leases.
Key Takeaways
Kite Realty Group Trust reported its Q4 2023 operating results, with net income attributable to common shareholders of $8.0 million, or $0.04 per diluted share. The company generated NAREIT FFO of the Operating Partnership of $111.1 million, or $0.50 per diluted share, and Same Property NOI increased by 2.8%.
Generated NAREIT FFO of the Operating Partnership of $111.1 million, or $0.50 per diluted share.
Same Property NOI increased by 2.8%.
Executed 192 new and renewal leases representing approximately 1.3 million square feet.
Retail portfolio leased percentage of 93.9% at December 31, 2023, a 50-basis point increase sequentially.
Revenue by Segment
Forward Guidance
The Company expects to generate net income attributable to common shareholders of $0.29 to $0.35 per diluted share in 2024 and NAREIT FFO of $2.00 to $2.06 per diluted share, based, in part, on the following assumptions:
Positive Outlook
- 2024 Same Property NOI range of 1.0% to 2.0%.
Challenges Ahead
- Full-year bad debt assumption of 0.75% to 1.25% of total revenues.
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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