KRG

Interested in Kite Realty Group Trust? Here are five stocks we like better. Kite Realty raised its 2026 same-property NOI growth outlook to 3%–4% after second-quarter and year-to-date growth of 3.7%, while maintaining core and Nareit FFO guidance of $2.06–$2.12 per share. Operating performance improved: leased occupancy reached 94.8%, leasing spreads were 15.9%, and the signed-but-not-open pipeline expanded to approximately $37 million of NOI. Project Elevate is reshaping the portfolio through nearly $1 billion of non-core property sales since early 2025, reducing exposure to weaker assets and reallocating capital to grocery-anchored and lifestyle properties; net debt to EBITDA stood at 5.1 times with more than $1.2 billion in liquidity. Kite Realty Group Trust (NYSE:KRG) reported second-quarter core funds from operations of $0.52 per share and Nareit FFO of $0.53 per share, while raising its full-year same-property net operating income growth outlook following stronger-than-expected first-half operating results. Chairman and Chief Executive Officer John Kite said tenant demand remained healthy, supported by an elevated signed-but-not-open pipeline and continued leasing gains. Same-property NOI increased 3.7% in the second quarter and year to date, while the company increased its 2026 same-property NOI guidance to 3% to 4%, a 50-basis-point increase at the midpoint. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now The company maintained its full-year core FFO and Nareit FFO guidance of $2.06 to $2.12 per share. President and Chief Financial Officer Heath Fear said the unchanged FFO outlook reflects the timing of asset sales and redeployment activity, including a projected $0.02 per-share drag in 2026 from transaction activity. Kite said its capital-allocation program, called Project Elevate, has focused on selling lower-growth, non-core assets and redeploying capital into higher-conviction investments, while also reducing potential exposure to at-risk tenants. → Microsoft Just Flipped the AI Spending Narrative Overnight Since the beginning of 2025, the company has sold 22 non-core properties for nearly $1 billion. Kite said the sales reduced exposure to lower-growth formats and at-risk anchors while increasing the portfolio’s concentration in grocery-anchored, lifestyle and mixed-use properties. According to the company, weighted annualized base rent from lifestyle, mixed-use and neighborhood centers has increased by 900 basis points since the start of 2023, matched by a 900-basis-point reduction in exposure to power and large-format community centers. → Carrier Earnings Could Send the Stock to a New All-Time High The disposition activity eliminated 58 at-risk tenant locations representing more than 1 million square feet and over 200 basis points of annualized base rent, Kite said. Four watch-list tenants also rolled off the company’s top 25 tenant list, while grocers now account for one-third of its top 15 tenants. Management said the remaining 2026 disposition plan includes about $225 million of non-core assets associated with tax-loss sales. Kite said the expected sales would be similar to assets the company has already sold and are primarily non-core properties. Potential land sales and ground-lease transactions are not included in that estimate. John Kite said the “heavy lifting” of Project Elevate has been completed and that the company expects to return to its historical pattern of a smaller number of annual purchases and sales in 2027. During the second quarter, Kite Realty executed 128 new and renewal leases totaling about 1 million square feet. Blended cash leasing spreads were 15.9%, including 28.4% on comparable new leases. The company’s leased rate reached 94.8%, up 150 basis points from a year earlier, led by a 210-basis-point gain in the anchor leased rate. Annualized base rent per square foot rose to $23.41, up 2.3% sequentially and 6.3% year over year. Its embedded rent growth increased to 185 basis points, nearly 30 basis points above the level at the start of 2024. The signed-but-not-open pipeline expanded to about $37 million of NOI, representing a 350-basis-point gap between leased and occupied rates. In response to questions about occupancy, John Kite said small-shop leasing is near prior high-water marks, while anchor occupancy remains a couple hundred basis points below its historic level. He said the company is focused on improving tenant composition as well as overall occupancy, citing strong demand, limited supply and a stronger portfolio. Fear said the first-half same-property NOI outperformance was broad-based, reflecting better tenant retention, lower bad debt, higher percentage rent and stronger net recoveries. The company assumes a bad-debt reserve equal to 90 basis points of total revenue at the midpoint of its full-year guidance, including an assumed 100-basis-point rate for the second half. Kite Realty acquired two neighborhood centers during the quarter through 1031 exchanges: Founders Square in Naples and Chastain Market, a Trader Joe’s-anchored center in Atlanta. The purchases totaled $136 million and brought acquisitions since the beginning of 2025 to approximately $612 million, according to John Kite. The company also repurchased approximately 2.8 million common shares during the quarter for about $75 million, at an average price of $27.48 per share. Across 2025 and 2026, it has repurchased 19.6 million shares for approximately $475 million at an average price of $24.20 per share. Fear said the company has generated roughly $1.1 billion in proceeds since the start of 2025, including about $973 million from non-core property sales and $112 million from selling a 48% interest in three operating assets. Expected additional sales would bring total proceeds to approximately $1.3 billion. Uses of capital since the start of 2025 have included about $476 million of share repurchases, $250 million of equity funding for Legacy West, approximately $204 million of acquisitions and a $31 million special dividend. Kite expects another $110 million of 1031 acquisitions, which would bring projected capital deployment to about $1.1 billion. Management said expected sources would exceed uses by roughly $240 million, which it intends to retain for flexibility, potential acquisitions, repurchases or leverage reduction. As of June 30, net debt to EBITDA was 5.1 times, near the low end of the company’s targeted range, and total liquidity exceeded $1.2 billion. Kite also commenced the second phase of luxury multifamily development at One Loudoun, a 429-unit project expected to begin delivering in 2029. The project is part of an existing residential joint venture. Fear said a tax-free recapitalization of the venture’s existing 378-unit multifamily development will reduce Kite’s ownership from 90% to 55% over time as the new building is constructed. At quarter-end, its ownership stood at 77%. Proceeds from the recapitalization and the contribution of land already owned by the company are expected to fund most of Kite’s 55% equity interest in the new project. The company recorded a $60 million non-cash gain related to the recapitalization and deconsolidation of the existing joint venture. Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers. Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Kite Realty Group Trust Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

INDIANAPOLIS, July 30, 2026 (GLOBE NEWSWIRE) -- Kite Realty Group (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored shopping centers and vibrant mixed-use assets, reported today its operating results for the second quarter ended June 30, 2026. For the quarters ended June 30, 2026 and 2025, net income attributable to common shareholders was $161.3 million, or $0.79 per diluted share, compared to $110.3 million, or $0.50 per diluted share, respectively. For the six months ended June 30, 2026 and 2025, net income attributable to common shareholders was $172.7 million, or $0.84 per diluted share, compared to $134.0 million, or $0.61 per diluted share, respectively. Same Property Net Operating Income (NOI) increase of 3.7% Advanced portfolio transformation with $314.0 million of non-core dispositions Priced $345 million of 3.25% exchangeable senior notes due 2032 In 2025 and 2026, repurchased a total of 19.6 million common shares for $475.7 million at an average price of $24.20 per share “We moved with speed and discipline this quarter, executing more than $870 million of capital activity,” said John A. Kite, Chairman and Chief Executive Officer. “We sold approximately $315 million of non-core assets, priced $345 million of exchangeable notes, acquired two neighborhood centers for $136 million, and repurchased $75.7 million of common shares – all while delivering 3.7% Same Property NOI growth and maintaining leverage near the low end of our long-term target.” Second Quarter 2026 Financial and Operational Results Generated Core FFO of the Operating Partnership of $108.4 million, or $0.52 per diluted share. Generated NAREIT FFO of the Operating Partnership of $109.1 million, or $0.53 per diluted share. Same Property NOI increased by 3.7%. Executed 128 new and renewal leases representing approximately 1.0 million square feet. Operating retail portfolio annualized base rent (ABR) per square foot of $23.41 at June 30, 2026, a 6.3% increase year-over-year. Retail portfolio leased percentage of 94.8% at June 30, 2026, a 150-basis point increase year-over-year. Portfolio leased-to-occupied spread at period end of 350 basis points, which represents approximately $37.3 million of signed-not-open NOI. Second Quarter 2026 Capital Allocation Activity Sold eight non-core assets for gross proceeds of $314.0 million, consistent with the Company’s strategy to reduce exposure to lower-growth assets and improve the portfolio’s embedded growth profile. Acquired two neighborhood centers – Founders Square in Naples, FL and Chastain Market, a Trader Joe’s anchored center in Atlanta, GA – for $136.0 million through Internal Revenue Code Section 1031 tax-deferred exchanges. Commenced development of a second phase of luxury multifamily units at One Loudoun (Washington, D.C. MSA) within the existing residential joint venture. The 429-unit development is currently expected to cost approximately $175.1 million, begin delivering units in 2029, and will be partially financed by a new $107.5 million construction loan. KRG’s equity in the project has been funded via a contribution of entitled land and its equity in the existing 378-unit multifamily asset. As of June 30, 2026, KRG owns 76.7% of the joint venture, and its ownership percentage is expected to be reduced to 55% over time as equity for the new development is required to be contributed by the joint venture partner. In conjunction with the transaction, KRG recognized a non-cash gain on deconsolidation of approximately $60.6 million. Repurchased approximately 2.8 million common shares, at an average price of $27.48 per share, for $75.7 million, of which $30.0 million was settled subsequent to quarter end in connection with the closing of the $345 million of 3.25% exchangeable senior notes due 2032 offering. Second Quarter 2026 Balance Sheet Overview As of June 30, 2026, the Company’s net debt to Adjusted EBITDA was 5.1x. On June 29, 2026, the Company’s operating partnership priced $345 million of 3.25% exchangeable senior notes due 2032 (the notes were issued on July 2, 2026), which included the full exercise of the initial purchasers’ $45 million overallotment option. Dividend On July 28, 2026, the Company’s Board of Trustees declared a third quarter 2026 dividend of $0.29 per common share, which represents a 7.4% year-over-year increase. The third quarter dividend will be paid on or about October 16, 2026, to shareholders of record as of October 9, 2026. 2026 Earnings GuidanceThe Company expects to generate net income of $1.02 to $1.08 per diluted share in 2026. The Company is affirming its 2026 NAREIT FFO guidance range of $2.06 to $2.12 per diluted share and its Core FFO guidance range of $2.06 to $2.12 per diluted share, based, in part, on the following full year 2026 assumptions: 2026 Same Property NOI growth range of 3.00% to 4.00% (previously 2.50% to 3.50%). Bad debt reserve of 0.90% of total revenues at the midpoint (previously 0.95% of total revenues). Interest expense, net of interest income, excluding unconsolidated joint ventures and including the impact of the deconsolidation of the One Loudoun Residential joint venture, of $114.7 million at the midpoint (previously $121.2 million). The following table reconciles the Company’s 2026 net income guidance range to the Company’s 2026 NAREIT and Core FFO guidance ranges: Earnings Conference Call Kite Realty Group will conduct a conference call to discuss its financial results on Thursday, July 30, 2026, at 12:00 p.m. Eastern Time. A live webcast of the conference call will be available on KRG’s website at kiterealty.com or at the following link: KRG Second Quarter 2026 Webcast. The dial-in registration link is: KRG Second Quarter 2026 Teleconference Registration. In addition, a webcast replay link will be available on KRG’s website. About Kite Realty Group Kite Realty Group (NYSE: KRG) is a real estate investment trust (REIT) that owns and operates a high-quality portfolio of open-air shopping centers and mixed-use destinations. The Company’s portfolio is concentrated in high-growth Sun Belt and select strategic gateway markets. Publicly listed since 2004, KRG brings more than six decades of experience in developing, operating, and investing in real estate, using a disciplined, hands-on approach to enhance portfolio quality and maximize long-term value for all stakeholders. As of June 30, 2026, the Company owned interests in 165 U.S. open-air shopping centers and mixed-use assets, comprising approximately 26.4 million square feet of gross leasable space. For more information, please visit kiterealty.com. Connect with KRG: LinkedIn | X | Instagram | Facebook Safe Harbor This release, together with other statements and information publicly disseminated by us, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, performance, transactions or achievements, financial or otherwise, may differ materially from the results, performance, transactions or achievements, financial or otherwise, expressed or implied by the forward-looking statements. Risks, uncertainties and other factors that might cause such differences, some of which could be material, include but are not limited to: economic, business, banking, real estate and other market conditions, particularly in connection with low or negative growth in the U.S. economy as well as economic uncertainty (including from an economic slowdown or recession, federal government shutdown, disruptions related to tariffs and other trade or sanction issues, geopolitical instability, rising interest rates, inflation, unemployment, or limited growth in consumer income or spending); financing risks, including the availability of, and costs associated with, sources of liquidity, and our ability to use offering proceeds for the anticipated purposes; the Company’s ability to refinance, or extend the maturity dates of, the Company’s indebtedness; the level and volatility of interest rates; the financial stability of the Company’s tenants; the competitive environment in which the Company operates, including potential oversupplies of, or a reduction in demand for, rental space; acquisition, disposition, development and joint venture risks, including the ability to finance and/or complete them on the terms and timing anticipated; property ownership and management risks, including the relative illiquidity of real estate investments, and expenses, vacancies or the inability to rent space on favorable terms or at all; the Company’s ability to maintain the Company’s status as a real estate investment trust for U.S. federal income tax purposes; potential environmental and other liabilities; impairment in the value of real estate property the Company owns; the attractiveness of our properties to tenants; the actual and perceived impact of e-commerce on the value of shopping center assets and changing demographics and customer traffic patterns; business continuity disruptions and a deterioration in our tenants’ ability to operate in affected areas or delays in the supply of products or services to us or our tenants from vendors that are needed to operate efficiently; risks related to our current geographical concentration of properties in the states of Texas, Florida, and North Carolina and the metropolitan statistical areas of New York, Atlanta, Seattle, Chicago, and Washington, D.C.; civil unrest, acts of violence, terrorism or war, acts of God, climate change, epidemics, pandemics, natural disasters and severe weather conditions, including such events that may result in underinsured or uninsured losses or other increased costs and expenses; changes in laws and government regulations, including governmental orders affecting the use of the Company’s properties or the ability of its tenants to operate, and the costs of complying with such changed laws and government regulations; possible changes in consumer behavior due to public health crises and the fear of future pandemics; our ability to satisfy environmental, social or governance standards set by various constituencies; insurance costs and coverage, especially in Florida and Texas coastal areas and North Carolina; risks associated with cyberattacks and the loss of confidential information and other business disruptions; risks associated with the use of artificial intelligence and related tools; other factors affecting the real estate industry generally; and other risks identified in reports the Company files with the Securities and Exchange Commission or in other documents that it publicly disseminates, including, in particular, the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in the Company’s quarterly reports on Form 10-Q. The Company undertakes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. This Earnings Release also includes certain forward-looking non-GAAP information. These non-GAAP financial measures should be considered along with, but not as alternatives to, net income (loss) as a measure of our operating performance. Please see the following pages for the corresponding definitions and reconciliations of such non-GAAP financial measures. NAREIT Funds From Operations (“FFO”) is a widely used performance measure for real estate companies and is provided here as a supplemental measure of our operating performance. The Company calculates FFO, a non-GAAP financial measure, in accordance with the best practices described in the April 2002 National Policy Bulletin of the National Association of Real Estate Investment Trusts (“NAREIT”), as restated in 2018. The NAREIT white paper defines FFO as net income (calculated in accordance with GAAP), excluding (i) depreciation and amortization related to real estate, (ii) gains and losses from the sale of certain real estate assets, (iii) gains and losses from change in control, and (iv) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity. Considering the nature of our business as a real estate owner and operator, the Company believes that FFO is helpful to investors in measuring our operational performance because it excludes various items included in net income that do not relate to or are not indicative of our operating performance, such as gains or losses from sales of depreciated property and depreciation and amortization, which can make periodic and peer analyses of operating performance more difficult. FFO (a) should not be considered as an alternative to net income (calculated in accordance with GAAP) for the purpose of measuring our financial performance, (b) is not an alternative to cash flows from operating activities (calculated in accordance with GAAP) as a measure of our liquidity, and (c) is not indicative of funds available to satisfy our cash needs, including our ability to make distributions. The Company’s computation of FFO may not be comparable to FFO reported by other REITs that do not define the term in accordance with the current NAREIT definition or that interpret the current NAREIT definition differently than we do. From time to time, the Company may report or provide guidance with respect to “FFO, as adjusted,” which removes the impact of certain non-recurring and non-operating transactions or other items the Company does not consider to be representative of its core operating results, including, without limitation, (i) gains or losses associated with the early extinguishment of debt, (ii) gains or losses associated with litigation involving the Company that is not in the normal course of business, (iii) merger and acquisition costs, (iv) the impact on earnings from significant and non-recurring employee severance costs and recruiting expenses, including sign-on bonuses and search fees, (v) the excess of redemption value over carrying value of preferred stock redemption, and (vi) the impact of prior period bad debt or the collection of accounts receivable previously written off (“prior period collection impact”), which are not otherwise adjusted in the Company’s calculation of FFO. Core Funds From Operations (“Core FFO”) is a non-GAAP financial measure of operating performance that modifies FFO for certain non-cash transactions that result in recording income or expense and impact the Company’s period-over-period performance, including (i) amortization of deferred financing costs, (ii) non-cash compensation expense and other, (iii) straight-line rent related to minimum rent and common area maintenance, (iv) market rent amortization income, and (v) amortization of debt discounts, premiums and hedge instruments, and includes adjustments related to our pro rata share from unconsolidated joint ventures for these categories as applicable. The Company believes that Core FFO is useful to investors in evaluating the core cash flow-generating operations of the Company by adjusting for items that we do not consider to be part of our core business operations, allowing for comparison of core operating performance of the Company between periods. Core FFO should not be considered as an alternative to net income as an indicator of the Company’s performance or as an alternative to cash flow as a measure of liquidity or the Company’s ability to make distributions. The Company’s computation of Core FFO may differ from the methodology for calculating Core FFO used by other REITs and, therefore, may not be comparable to such other REITs. The Company uses NOI, a non-GAAP financial measure, to evaluate the performance of our properties. The Company also uses total property NOI, which is defined as NOI plus net gains from outlot sales. The Company defines NOI as income from our real estate, including lease termination fees received from tenants, less our property operating expenses. NOI excludes amortization of capitalized tenant improvement costs and leasing commissions and certain corporate-level expenses, including merger and acquisition costs. The Company believes that NOI is helpful to investors as a measure of our operating performance because it excludes various items included in net income that do not relate to or are not indicative of our operating performance, such as depreciation and amortization, interest expense, and impairment, if any. The Company also uses same property NOI (“Same Property NOI”), a non-GAAP financial measure, to evaluate the performance of our properties. Same Property NOI is net income excluding properties that have not been owned for the full periods presented. Beginning in 2026, the Company revised its Same Property NOI definition to exclude the results of the Company’s insurance captive to more clearly reflect the performance of our core real estate portfolio. Same Property NOI also excludes (i) net gains from outlot sales, (ii) straight-line rent revenue, (iii) lease termination income in excess of lost rent, (iv) amortization of lease intangibles, (v) significant prior period expense recoveries and adjustments, if any, and (vi) income or expense associated with the Company’s captive insurance company. When the Company receives payments in excess of any accounts receivable for terminating a lease, Same Property NOI will include such excess payments as monthly rent until the earlier of the expiration of 12 months or the start date of a replacement tenant. The Company believes that Same Property NOI is helpful to investors as a measure of our operating performance because it includes only the NOI of properties that have been owned for the full periods presented. The Company believes such presentation eliminates disparities in net income due to the acquisition or disposition of properties during the particular periods presented and thus provides a more consistent metric for the comparison of our properties. Additionally, because results from the Company’s insurance captive are driven by insurance underwriting, loss experience, and actuarial assumptions and therefore do not reflect the operating performance of our real estate properties, management believes excluding the impacts of the insurance captive improves transparency and comparability for the Company’s investors. Same Property NOI includes the results of properties that have been owned for the entire current and prior year reporting periods. Same Property NOI for all periods presented includes (i) 52% of the NOI from three previously wholly owned properties that were contributed to the Seed Asset Joint Venture in June 2025 and (ii) 55% of the NOI from the One Loudoun Phase 1 Apartments (which 55% represents the Company’s expected final ownership percentage) and excludes the results of the Company’s insurance captive. NOI and Same Property NOI should not, however, be considered as an alternative to net income (calculated in accordance with GAAP) as an indicator of our financial performance. The Company’s computation of NOI and Same Property NOI may differ from the methodology used by other REITs and, therefore, may not be comparable to such other REITs. When evaluating the properties that are included in the Same Property Pool, we have established specific criteria for determining the inclusion of properties acquired or those recently under development. An acquired property is included in the Same Property Pool when there is a full quarter of operations in both years subsequent to the acquisition date. Development and redevelopment properties are included in the Same Property Pool four full quarters after the properties have been transferred to the operating portfolio. A redevelopment property is first excluded from the Same Property Pool when the execution of a redevelopment plan is likely, and we (a) begin recapturing space from tenants or (b) the contemplated plan significantly impacts the operations of the property. For the three and six months ended June 30, 2026, the Same Property Pool excludes the following: (i) Chastain Market and Founders Square, which were acquired in May 2026, and Village Commons and Legacy West, which were acquired in January and April 2025, respectively; (ii) The Corner – IN, which was reclassified from active development into our operating portfolio in March 2025; (iii) Eastgate Crossing, which was reclassified from our operating portfolio in September 2025 due to significant disruption caused by severe flooding as a result of Tropical Storm Chantal; (iv) our active development projects at One Loudoun; (v) Hamilton Crossing Centre and Edwards Multiplex – Ontario, which were reclassified from our operating portfolio into redevelopment in June 2014 and March 2023, respectively; (vi) properties sold or classified as held for sale during 2025 and 2026; and (vii) standalone office properties, including the Carillon medical office building. The Company defines EBITDA, a non-GAAP financial measure, as net income before interest expense, income tax expense of the taxable REIT subsidiaries, and depreciation and amortization. For informational purposes, the Company also provides Adjusted EBITDA, which it defines as EBITDA less (i) EBITDA from unconsolidated entities, as adjusted, (ii) gains on sales of operating properties or impairment charges, (iii) merger and acquisition costs, (iv) other income and expense, (v) noncontrolling interest Adjusted EBITDA, and (vi) other non-recurring activity or items impacting comparability from period to period. Annualized Adjusted EBITDA is Adjusted EBITDA for the most recent quarter multiplied by four. Net Debt to Adjusted EBITDA is the Company’s share of net debt divided by Annualized Adjusted EBITDA. EBITDA, Adjusted EBITDA, Annualized Adjusted EBITDA, and Net Debt to Adjusted EBITDA, as calculated by the Company, are not comparable to EBITDA and EBITDA-related measures reported by other REITs that do not define EBITDA and EBITDA-related measures exactly as we do. EBITDA, Adjusted EBITDA, and Annualized Adjusted EBITDA do not represent cash generated from operating activities in accordance with GAAP and should not be considered alternatives to net income as an indicator of performance or as alternatives to cash flows from operating activities as an indicator of liquidity. Considering the nature of our business as a real estate owner and operator, the Company believes that EBITDA, Adjusted EBITDA, and the ratio of Net Debt to Adjusted EBITDA are helpful to investors in measuring our operational performance because they exclude various items included in net income that do not relate to or are not indicative of our operating performance, such as gains or losses from sales of depreciated property and depreciation and amortization, which can make periodic and peer analyses of operating performance more difficult. For informational purposes, the Company also provides Annualized Adjusted EBITDA, adjusted as described above. The Company believes this supplemental information provides a meaningful measure of its operating performance. The Company believes presenting EBITDA and the related measures in this manner allows investors and other interested parties to form a more meaningful assessment of the Company’s operating results. Contact Information: Kite Realty Group Tyler HenshawSVP, Capital Markets & Investor [email protected]

This article first appeared on GuruFocus. Core FFO per share: $0.52 for the second quarter of 2026. NAREIT FFO per share: $0.53 for the second quarter of 2026. Same Property NOI Growth: 3.7% for the second quarter and year-to-date 2026. Full-Year Same Property NOI Guidance: Raised to a range of 3% to 4% (a 50 basis point increase at the midpoint). Full-Year Core FFO Guidance: Maintained at $2.06 to $2.12 per share. Leasing Activity: Executed 128 new and renewal leases totaling approximately 1 million square feet. Blended Cash Spreads: 15.9% on comparable new and renewal leases. Comparable New Lease Spreads: 28.4%. Lease Rate: 94.8%, up 150 basis points year-over-year. ABR per Square Foot: $23.41, up 2.3% sequentially and 6.3% year-over-year. Embedded Rent Growth: 185 basis points. Signed-Not-Open Pipeline: Approximately $37 million of NOI, representing a 350 basis point spread between leased and occupied rates. Share Repurchases: Purchased approximately 2.8 million common shares for approximately $75 million in the second quarter. Acquisitions: Acquired two high-quality neighborhood centers for $136 million. Net Debt to EBITDA: 5.1 times as of June 30, 2026. Total Liquidity: Over $1.2 billion. Warning! GuruFocus has detected 11 Warning Signs with KRG. Is KRG fairly valued? Test your thesis with our free DCF calculator. Release Date: July 30, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Same property NOI grew 3.7% in Q2 2026, leading to a raised full-year guidance range of 3% to 4%. Executed 128 leases totaling ~1 million sq ft with blended cash spreads of 15.9% and new lease spreads of 28.4%. Portfolio lease rate reached 94.8%, up 150 bps year-over-year, with a 210 bps improvement in anchor lease rate. Completed Project Elevate dispositions of 22 non-core assets for ~$1 billion, reducing exposure to at-risk tenants and lower-growth formats. Balance sheet strengthened with net debt to EBITDA at 5.1x, near the low end of the target range, and over $1.2 billion in total liquidity. Core FFO guidance maintained at $2.06-$2.12 per share despite strong first-half performance, implying a deceleration in the back half of 2026. Project Elevate transactional activity created a $0.02 per share dilution in Q2 due to timing of capital recycling. Guidance assumes a bad debt reserve of 90 bps of total revenues, with an assumed 100 bps rate for the second half of the year. Economic occupancy at 91.2% remains 250 bps below historic highs, indicating further room for improvement. Approximately $225 million of additional non-core tax loss sales are still expected in 2026, which could continue to create near-term earnings drag. Here are the highlights from the Kite Realty Group Trust (NYSE:KRG) Q2 2026 earnings call. Q: Can you speak to the impact or improvement on the same-store NOI outlook that can be attributed to the dispositions completed so far to date? How much of the same-store NOI growth improvement is from dispositions versus operational upside?A: (Heath Fear, CFO) The contribution from the elimination of assets is very modest, only three basis points. The sold pool was 98% leased. However, in the long run, these assets would have been detractors due to their lower ABR ($18) and higher watchlist concentrations. Q: Thinking about your economic occupancy at the end of 2Q is about 91.2%, which is about 250 basis points below your historic highs. Can you talk about the opportunity set there longer-term and how much the signed-not-open pipeline may contribute to higher absolute occupancy levels?A: (John Kite, CEO) We are getting very close to our historic highs, particularly in small shops. The more important factor is the composition of our tenants, which has changed significantly for the better due to Project Elevate. Demand remains strong, supply is low, and our portfolio is better, creating a real opportunity to push occupancy higher. Q: Given the progress on Elevate year-to-date and into the back half, what are your thoughts on how much longer it continues into '27 and if you've got the $0.02 drag on '26, do you think drags continue into next year?A: (John Kite, CEO) The heavy lifting is done. The remaining transactional activity in the back half of '26 is about harvesting tax losses and doing 1031s. As we move into '27, we will return to a historical pace of a handful of sales and buys per year. The $0.02 dilution is largely due to sitting on $240 million of undeployed cash, which we will deploy opportunistically. Q: Most retailers are describing their health as better than historically. So did you say we're entering a period of structurally lower tenant failures? Or do you view this year's experience of bad debt below expectations as more than an anomaly?A: (John Kite, CEO) We are definitely in a healthier environment for retailers, but there will always be periods of strain. This is a core reason for Project Elevatewe don't think hoping is a good strategy. We want a portfolio that can withstand any outcome, independent of the cycle. Q: When I think of the two buckets you like the most, neighborhood centers and lifestyle/mixed-use centers, how does the return profile compare between the two buckets?A: (Heath Fear, CFO) The return profile on both is fairly similar, with initial yields converging recently. Our return hurdles are the same, looking for an 8% to 9% unlevered return. (John Kite, CEO) The operational side is different; running a large lifestyle center requires different capabilities than a neighborhood center. Also, the embedded rent growth profiles are different, with more opportunity to stretch growth in the lifestyle/mixed-use assets. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

For the quarter ended June 2026, Kite Realty Group (KRG) reported revenue of $196.26 million, down 8% over the same period last year. EPS came in at $0.52, compared to $0.50 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $200.62 million, representing a surprise of -2.18%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.52. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Kite Realty Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Revenue- Fee income: $1.38 million compared to the $1.37 million average estimate based on three analysts. The reported number represents a change of +61.6% year over year. Revenue- Minimum rent: $139.33 million versus $150.61 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -7.6% change. Revenue- Tenant recoveries: $39.86 million versus $41.79 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -4.4% change. Revenue- Other property related revenue: $1.57 million compared to the $1.49 million average estimate based on two analysts. The reported number represents a change of +15.2% year over year. Revenue- Rental income: $193.31 million versus $192.85 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -8.5% change. Net Earnings Per Share (Diluted): $0.79 versus $0.11 estimated by two analysts on average. View all Key Company Metrics for Kite Realty Group here>>> Shares of Kite Realty Group have returned +1.9% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Kite Realty Group Trust (KRG) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

INDIANAPOLIS, July 02, 2026 (GLOBE NEWSWIRE) -- Kite Realty Group (NYSE: KRG) announced today that it will release financial results for the quarter ended June 30, 2026, before the market opens on Thursday, July 30, 2026. KRG will conduct a conference call to discuss its financial results on Thursday, July 30, 2026 at 12:00 p.m. Eastern Time. KRG Q2 2026 Earnings Conference Call Webcast Link: KRG Second Quarter 2026 Webcast Dial-In Registration: KRG Second Quarter 2026 Teleconference Registration A live webcast of the conference call will also be available at kiterealty.com. A replay of the call will remain available on the corporate website. About Kite Realty GroupKite Realty Group (NYSE: KRG) is a real estate investment trust (REIT) that owns and operates a high-quality portfolio of open-air shopping centers and mixed-use destinations. The Company's portfolio is concentrated in high-growth Sun Belt and select strategic gateway markets. Publicly listed since 2004, KRG brings more than six decades of experience in developing, operating, and investing in real estate, using a disciplined, hands-on approach to enhance portfolio quality and maximize long-term value for all stakeholders. As of March 31, 2026, the Company owned interests in 169 U.S. open-air shopping centers and mixed-use assets, comprising approximately 27.3 million square feet of gross leasable area. For more information, please visit kiterealty.com. Connect with KRG: LinkedIn | X | Instagram | Facebook Safe HarborThis release, together with other statements and information publicly disseminated by us, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, performance, transactions or achievements, financial or otherwise, may differ materially from the results, performance, transactions or achievements, financial or otherwise, expressed or implied by the forward-looking statements.Risks, uncertainties and other factors that might cause such differences, some of which could be material, include but are not limited to: economic, business, banking, real estate and other market conditions, particularly in connection with low or negative growth in the U.S. economy as well as economic uncertainty (including from an economic slowdown or recession, federal government shutdown, disruptions related to tariffs and other trade or sanction issues, geopolitical instability, rising interest rates, inflation, unemployment, or limited growth in consumer income or spending); financing risks, including the availability of, and costs associated with, sources of liquidity; the Company’s ability to refinance, or extend the maturity dates of, the Company’s indebtedness; the level and volatility of interest rates; the financial stability of the Company’s tenants; the competitive environment in which the Company operates, including potential oversupplies of, or a reduction in demand for, rental space; acquisition, disposition, development and joint venture risks, including the ability to complete them on the terms and timing anticipated; property ownership and management risks, including the relative illiquidity of real estate investments, and expenses, vacancies or the inability to rent space on favorable terms or at all; the Company’s ability to maintain the Company’s status as a real estate investment trust for U.S. federal income tax purposes; potential environmental and other liabilities; impairment in the value of real estate property the Company owns; the attractiveness of our properties to tenants; the actual and perceived impact of e-commerce on the value of shopping center assets, and changing demographics and customer traffic patterns; business continuity disruptions and a deterioration in our tenants’ ability to operate in affected areas or delays in the supply of products or services to us or our tenants from vendors that are needed to operate efficiently; risks related to our current geographical concentration of properties in the states of Texas, Florida, and North Carolina and the metropolitan statistical areas of New York, Atlanta, Seattle, Chicago, and Washington, D.C.; civil unrest, acts of violence, terrorism or war, acts of God, climate change, epidemics, pandemics, natural disasters and severe weather conditions, including such events that may result in underinsured or uninsured losses or other increased costs and expenses; changes in laws and government regulations, including governmental orders affecting the use of the Company’s properties or the ability of its tenants to operate, and the costs of complying with such changed laws and government regulations; possible changes in consumer behavior due to public health crises and the fear of future pandemics; our ability to satisfy environmental, social or governance standards set by various constituencies; insurance costs and coverage, especially in Florida and Texas coastal areas and North Carolina; risks associated with cyberattacks and the loss of confidential information and other business disruptions; risks associated with the use of artificial intelligence and related tools; other factors affecting the real estate industry generally; and other risks identified in reports the Company files with the Securities and Exchange Commission or in other documents that it publicly disseminates, including, in particular, the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in the Company’s quarterly reports on Form 10-Q. The Company undertakes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Contact Information: Kite Realty GroupTyler HenshawSVP, Capital Markets & Investor [email protected]

This article first appeared on GuruFocus. Same-Property NOI Growth: Increased by 3.6% in Q1 2026. Leasing Activity: Executed 151 new and renewal leases, totaling over 700,000 square feet. Blended Cash Leasing Spreads: 13.5%, with new leases at 31.3%. Lease Rate: 94.7%, a 90 basis point increase year-over-year. Average Base Rent (ABR) per Square Foot: $22.89, a 6.5% increase year-over-year. Signed-Not-Open Pipeline NOI: Approximately $36 million, with an average ABR of $28 per square foot. NAREIT FFO per Share: $0.52 in Q1 2026. Core FFO per Share: $0.52 in Q1 2026. Net Debt to EBITDA: 5.2 times as of March 31, 2026. Total Liquidity: Over $1 billion. Warning! GuruFocus has detected 10 Warning Signs with KRG. Is KRG fairly valued? Test your thesis with our free DCF calculator. Release Date: April 29, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Kite Realty Group Trust (NYSE:KRG) reported a strong start to 2026 with a 3.6% increase in same-property NOI for the first quarter. The company successfully repurchased 6 million common shares for approximately $152 million, contributing to a total of 16.9 million shares repurchased for $400 million at an average price of $23.67. KRG's lease rate increased to 94.7%, a 90 basis point improvement year-over-year, with significant new leases signed with high-profile retailers. The company's signed-not-open pipeline remains robust, representing approximately $36 million of NOI with an average ABR of $28 per square foot. KRG maintains a strong balance sheet with net debt to EBITDA at 5.2 times and access to over $1 billion of total liquidity, providing flexibility for future opportunities. Despite the strong performance, KRG's economic occupancy is about 260 basis points below historical highs, indicating room for improvement. The company anticipates a moderation in same-property NOI growth in the second quarter before reaccelerating in the latter half of the year. KRG's guidance for NAREIT FFO and core FFO remains unchanged despite the increase in same-property NOI range, due to adjustments in recurring but unpredictable items. The company faces challenges in accelerating the build-out of spaces in its signed-not-open pipeline, particularly for former anchor spaces. KRG's capital recycling strategy involves complex decisions regarding asset sales and acquisitions, which may not always align perfectly with market conditions. Q: As we think about the share buyback program moving from $300 million to $600 million, is there a willingness to potentially increase disposition volumes in the back half of the year? A: John Kite, CEO: We will continue to evaluate the market and opportunities. We aim to execute on the 1031 opportunities in the next quarter. It's a function of cost of capital and opportunities to reposition capital. We've executed approximately $750 million in sales, showing significant activity. Heath Fear, CFO: No additional comments. Q: Current economic occupancy is about 260 basis points below historical highs. Can you discuss the opportunity to increase economic occupancy levels in the back half of '26 and '27? A: John Kite, CEO: We are bullish on increasing occupancy. Year-over-year, we're up, and we see real opportunity due to strong demand and lack of supply. We focus on proper merchandising and embedded rent growth. Heath Fear, CFO: Our core opportunity is in leasing, and we have the most room to grow organically. Q: Can you expand on your comments on capital recycling and the transaction market? A: John Kite, CEO: There's strong demand for open-air retail, with institutional capital showing interest. This demand could pressure cap rates to move down. We aim to recycle capital into higher-growth assets. Heath Fear, CFO: The breadth of demand is incredible, making it better to be a seller than a buyer right now. Q: On the guidance side, you raised the same-store low end and high end, but FFO guidance remained unchanged. Can you explain this? A: Heath Fear, CFO: The same-store increase was offset by a reduction in recurring but unpredictable items, which are now expected in early '27. We also maintained a cautious approach to bad debt assumptions. Q: Beyond the capital recycling lined up, would you proceed with dispositions without new investment opportunities lined up? A: John Kite, CEO: Our goal is to pair buying and selling, but we remain opportunistic. If there's an excellent opportunity to recycle capital, we might proceed without knowing exactly where the capital will go. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Management is executing a deliberate multi-year strategy to reshape the portfolio toward higher-quality grocery-anchored, lifestyle, and mixed-use assets, having sold over $600 million in non-core assets over the last 24 months. Performance is driven by healthy tenant demand and an elevated signed-not-open (SNO) pipeline, which represents a 350 basis point spread between leased and occupied rates. The company is aggressively pursuing embedded rent growth, increasing contractual escalators from 156 basis points to 182 basis points over two years with a long-term target of 200 basis points. Strategic share repurchases of 16.9 million shares at an average price of $23.67 represent a compelling arbitrage, buying back stock at FFO yields wider than the yields of sold lower-growth assets. Operational strength is evidenced by 13.5% blended cash leasing spreads and a 6.5% year-over-year increase in average base rent (ABR) per square foot. Management attributes the 3.6% same-property NOI growth to higher minimum rents and disciplined merchandising, despite maintaining a conservative posture on bad debt reserves. Same-property NOI is expected to moderate in the second quarter before reaccelerating in the second half of 2026 as the $36 million SNO pipeline begins to commence rent. The company increased its 2026 same-property NOI guidance range to 2.5%–3.5%, though FFO guidance remains unchanged due to the timing of recurring but unpredictable items shifting into 2027. Management plans to close $170 million in 1031 acquisitions in the second quarter, focusing on high-quality assets with 8% to 9% unlevered IRR profiles. Future capital allocation will likely pivot toward smaller-scale redevelopment and development projects as the current intensive lease-up capital spend moderates over the next 2.5 years. The company maintains a 100 basis point bad debt assumption for the remainder of the year as a prudent measure despite outperforming this metric in the first quarter. The disposition pool for 2026 was increased to $145 million, including the complex vertical asset City Center, which management expects to transact before year-end. If scheduled 1031 acquisitions or non-core sales are not completed as planned, the company may issue a special dividend for 2026 to manage taxable income. Net debt to EBITDA remains stable at 5.2x, providing over $1 billion in liquidity to pursue opportunistic acquisitions or further share buybacks. Management noted that municipal permitting delays continue to be a structural headwind that dictates the 15-to-18-month gestation period for anchor tenant openings. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management is open to increasing disposition volumes beyond the current $145 million target if cost of capital and 1031 opportunities remain favorable. The strategy remains focused on recycling capital from lower-growth assets into higher-growth opportunities or stock repurchases while protecting earnings. KRG believes it has the most room for organic occupancy growth among peers and expects to reach historical pre-COVID highs by year-end. Management is intentionally leasing small shop space slowly to secure 3.5% to 4% annual rent escalators rather than accepting faster deals with lower growth. The asset is performing above expectations, with retail mark-to-market deals exceeding $100 per square foot compared to the $65 average at acquisition. The high-profile nature of the asset has improved KRG's brand awareness among premium retailers, facilitating deals across the broader portfolio. Adding grocers like Whole Foods or Trader Joe's generates direct returns on capital in the 20% to 40% range. Beyond direct returns, these anchors drive cap rate compression for the entire center and improve the quality and rent potential of surrounding small shop spaces. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.

Portfolio reshaping and buybacks: KRG has sold more than $600 million of non-core assets, formed joint ventures and repurchased 16.9 million shares for $400 million (average $23.67), including 6 million shares in Q1 for about $152 million, which management calls a “compelling arbitrage.” Strong leasing and operating performance: Same-property NOI increased 3.6% in Q1 with robust leasing — blended cash spreads of 13.5% (31.3% on new leases), a leased rate of 94.7%, ABR of $22.89/sq ft, and an elevated signed-not-open pipeline of roughly $36 million NOI (avg ABR ~$28/sq ft). Guidance and balance sheet positioning: KRG reported Q1 NAREIT/Core FFO of $0.52, reaffirmed 2026 FFO guidance of $2.06–$2.12 while nudging same-property NOI midpoint up 25 bps, and ended the quarter with net debt/EBITDA of 5.2x and over $1 billion in liquidity; management expects ~$170M of 1031 acquisitions and ~$145M of dispositions this year (with a potential special dividend if transactions don’t close). Interested in Kite Realty Group Trust? Here are five stocks we like better. Kite Realty Group Trust (NYSE:KRG) emphasized continued progress on portfolio upgrading and capital allocation initiatives during its first-quarter 2026 earnings call, pointing to stronger leasing metrics, an elevated signed-not-open pipeline, and ongoing capital recycling and share repurchases. Chairman and CEO John A. Kite said the company entered 2026 with “an ambitious set of operational and strategic goals” and is “firmly on target” through the first quarter. Kite said tenant demand remains healthy and the company’s “underlying fundamentals…have never been stronger,” crediting work over the past two years to shift the portfolio toward “higher growth and higher quality grocery anchored lifestyle and mixed use assets.” → Palantir Is Down 30%: Noise? Or a Signal to Accumulate? Kite detailed a series of actions the company has taken, including selling more than $600 million of non-core assets, forming joint ventures, and repurchasing shares at what management views as a discount to NAV. In the first quarter, KRG repurchased 6 million common shares for approximately $152 million and sold Quorum Plaza, which Kite described as a “non-core lower growth asset.” Including activity completed in 2025, Kite said KRG has repurchased 16.9 million shares for $400 million at an average price of $23.67. He framed the strategy as “a compelling arbitrage,” describing the company as buying stock at an FFO yield “meaningfully wider than the yields at which we have sold lower growth assets.” → Corning Beats Q1 Estimates but Drops 9% on Guidance Miss On operations, Kite said same-property NOI increased 3.6% in the first quarter. The company executed 151 new and renewal leases covering more than 700,000 square feet. Key leasing metrics discussed on the call included: Blended cash leasing spreads: 13.5%, including 31.3% on new leases Non-option renewal spreads: 12.3% Leased rate: 94.7%, up 90 basis points year-over-year ABR per square foot: $22.89 at quarter-end, up 6.5% year-over-year → Did Qualcomm Just Put Apple in Check? Kite also cited new leases signed with “sought-after concepts,” including On Running, Reformation, Warby Parker, Total Wine, and Barnes & Noble. The company’s signed-not-open pipeline remained “elevated” at approximately $36 million of NOI, representing a 350 basis point spread between leased and occupied rates, according to Kite. He also said the average ABR for leases in the pipeline is $28 per square foot. Kite highlighted changes in embedded rent escalators, stating they increased from 156 basis points two years ago to 182 basis points today, with a long-term target of 200 basis points. He described escalators as “contractual growth that compounds over time.” President and CFO Heath R. Fear reported first-quarter results of $0.52 of NAREIT FFO per share and $0.52 of Core FFO per share. Fear said same-property NOI growth of 3.6% was driven primarily by: A 250 basis point contribution from higher minimum rents A 55 basis point improvement in net recoveries A 45 basis point improvement in overage rent Fear noted the first-quarter same-property NOI result exceeded expectations due to “higher than anticipated overage rent, lower than anticipated bad debt, and the reversal of a large real estate tax reserve.” He said KRG expects same-property NOI growth to moderate in the second quarter and then “re-accelerate to the back half of the year” as rents from the signed-not-open pipeline commence. Based on first-quarter outperformance, Fear said the company increased its 2026 same-property NOI range by 25 basis points at the midpoint. However, KRG affirmed its NAREIT FFO and Core FFO guidance of $2.06 to $2.12 per share, based on same-property NOI growth guidance of 2.5% to 3.5%. Responding to an analyst question on why the higher same-store guidance did not lift FFO guidance, Fear said the same-store improvement added “half a penny” on a full-year basis, but was offset by a reduction in a “recurring but unpredictable” item that management now expects to shift into early 2027. Kite added that the company maintained assumptions for bad debt at 100 basis points for the remainder of the year despite first-quarter bad debt closer to 75 basis points, describing a preference for prudence early in the year. In discussing capital recycling, Kite said KRG will continue evaluating market opportunities and emphasized that decisions depend on factors such as cost of capital and reinvestment opportunities. He also indicated that, if the company executes on its plans, sales activity including last year and this year could total “like $750 million approximately.” Asked about the transaction market, Kite said demand for open-air retail is strong and has broadened, noting increased institutional interest. Fear similarly said, “there isn’t a pocket of historical retail capital that hasn’t been reignited,” calling the demand “incredible” and adding that it is “better to be a seller right now than it is to be a buyer,” while also noting KRG has “some traction” on its targeted 1031 acquisitions. Fear said guidance incorporates $170 million of 1031 acquisitions expected to close in the second quarter and $145 million of dispositions of “non-core and/or tax loss trip dispositions,” with $12.5 million closed in the first quarter and the balance expected in the back half of the year. Fear also reiterated that if the 1031 acquisitions or non-core sales are not completed, it “could result in a special dividend for 2026.” On specific assets, Fear said the disposition pool includes City Center and that management still plans to transact on it before year-end, while noting it is “a complicated vertical asset.” On the balance sheet, Fear said net debt to EBITDA was 5.2x as of March 31, consistent with KRG’s long-term leverage range “of low to mid-5s.” He also said the company had access to “over $1 billion in total liquidity.” Management repeatedly pointed to organic leasing as a key opportunity. In response to questions about economic occupancy and peer comparisons, Kite said the company is “bullish” on its ability to push occupancy higher, citing lack of supply and strong demand, while emphasizing disciplined merchandising and leasing terms over speed. During Q&A, Fear said that despite significant transactional activity, “one of the biggest opportunities in front of us is that core opportunity of leasing,” adding that KRG has “the most room to run in terms of just growing organically.” On development and redevelopment, Kite said the company does not set a target development spend level, preferring to “chase great opportunities.” He said spending has been moderated in recent years due to significant lease-up capital, estimated at “a little over $100 million a year” over the next two-and-a-half years, and suggested development activity could increase as that lease-up spending moderates. Fear pointed to One Loudoun as the “lowest hanging fruit,” noting the company expects to have 35 acres of land remaining after the current expansion, including “another 1,100 multi-family units” and “another…1.7 million sq ft of commercial.” Asked about Legacy West, Kite said the asset has performed “marvelously,” stating the mark-to-market on rents has matched expectations. He said the retail ABR at acquisition was “like $65 a ft,” and that KRG is now “doing deals north of $100 a ft routinely.” Kite also said multifamily improved in the last quarter, and described the office component as “really strong,” calling it “high quality office” in Plano and noting AT&T’s announcement of its global headquarters there. Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers. Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions. The article "Kite Realty Group Trust Q1 Earnings Call Highlights" was originally published by MarketBeat.

For the quarter ended March 2026, Kite Realty Group (KRG) reported revenue of $200.7 million, down 9.5% over the same period last year. EPS came in at $0.52, compared to $0.11 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $203.04 million, representing a surprise of -1.15%. The company delivered an EPS surprise of +1.17%, with the consensus EPS estimate being $0.51. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Kite Realty Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Revenue- Fee income: $1.3 million versus $1.13 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +204.9% change. Revenue- Minimum rent: $144.19 million versus the two-analyst average estimate of $154.38 million. The reported number represents a year-over-year change of -7.1%. Revenue- Tenant recoveries: $44.05 million versus the two-analyst average estimate of $44.42 million. The reported number represents a year-over-year change of -1.3%. Revenue- Other property related revenue: $1.36 million versus the two-analyst average estimate of $0.97 million. The reported number represents a year-over-year change of -37.2%. Revenue- Rental income: $198.04 million versus the two-analyst average estimate of $200.12 million. The reported number represents a year-over-year change of -9.6%. Net Earnings Per Share (Diluted): $0.06 compared to the $0.09 average estimate based on three analysts. View all Key Company Metrics for Kite Realty Group here>>> Shares of Kite Realty Group have returned +6.5% over the past month versus the Zacks S&P 500 composite's +12.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Kite Realty Group Trust (KRG) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

INDIANAPOLIS, April 29, 2026 (GLOBE NEWSWIRE) -- Kite Realty Group (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored shopping centers and vibrant mixed-use assets, reported today its operating results for the first quarter ended March 31, 2026. For the quarters ended March 31, 2026 and 2025, net income attributable to common shareholders was $11.4 million, or $0.06 per diluted share, compared to $23.7 million, or $0.11 per diluted share, respectively. Same Property Net Operating Income (NOI) increase of 3.6% Signed-not-open pipeline remains elevated at approximately $36.0 million In 2025 and 2026, repurchased a total of 16.9 million common shares for $400 million at an average price of $23.67 per share “KRG is executing across all fronts in 2026: strategically, operationally, and financially,” said John A. Kite, Chairman and Chief Executive Officer. “Strategically, we continue to sharpen the portfolio through disciplined capital recycling while also investing in our platform through recently announced key leadership additions. Operationally, Same Property NOI growth of 3.6%, double digit blended cash spreads, and a 90-basis point year-over-year increase in occupancy reflect exceptional tenant demand and the quality of our real estate. Financially, our balance sheet remains strong, our portfolio is built to perform through a range of macroeconomic conditions, and we have the capacity and conviction to keep playing offense.” First Quarter 2026 Financial and Operational Results Generated Core FFO of the Operating Partnership of $109.1 million, or $0.52 per diluted share. Generated NAREIT FFO of the Operating Partnership of $109.4 million, or $0.52 per diluted share. Same Property NOI increased by 3.6%. Executed 151 new and renewal leases representing 707,000 square feet. Blended cash leasing spreads of 13.5% on 113 comparable leases, including 31.3% on 26 comparable new leases, 12.3% on 47 comparable non-option renewals, and 7.0% on 40 comparable option renewals. Blended cash leasing spreads of 19.0% for comparable new and non-option renewal leases. Operating retail portfolio annualized base rent (ABR) per square foot of $22.89 at March 31, 2026, a 6.5% increase year-over-year. Retail portfolio leased percentage of 94.7% at March 31, 2026, a 90-basis point increase year-over-year. Anchor leased percentage of 96.2% at March 31, 2026, a 110-basis point increase year-over-year. Small shop leased percentage of 91.9% at March 31, 2026, a 60-basis point increase year-over-year. Portfolio leased-to-occupied spread at period end of 350 basis points, which represents approximately $36.0 million of signed-not-open NOI. First Quarter 2026 Capital Allocation Activity Sold Coram Plaza (New York MSA), a 138,385 square foot center, for $12.5 million, consistent with the Company’s strategy to exit non-core, larger-format, and/or lower-growth assets. In February 2026, the Company’s Board of Trustees approved an upsizing of the Company’s share repurchase program, increasing the size of the program from $300.0 million to $600.0 million of the Company’s common shares. During the quarter, repurchased approximately 6.0 million common shares, at an average price of $25.19 per share, for $152.3 million, inclusive of $52.3 million of previously announced activity. In 2025 and 2026, repurchased a total of 16.9 million common shares, at an average price of $23.67 per share, for $400.0 million. First Quarter 2026 Balance Sheet Overview As of March 31, 2026, the Company’s net debt to Adjusted EBITDA was 5.2x. Dividend On April 27, 2026, the Company’s Board of Trustees declared a second quarter 2026 dividend of $0.29 per common share, which represents a 7.4% year-over-year increase. The second quarter dividend will be paid on or about July 16, 2026, to shareholders of record as of July 9, 2026. 2026 Earnings Guidance The Company expects to generate net income attributable to common shareholders of $0.33 to $0.39 per diluted share in 2026. The Company is affirming its 2026 NAREIT FFO guidance range of $2.06 to $2.12 per diluted share and its Core FFO guidance range of $2.06 to $2.12 per diluted share, based, in part, on the following assumptions: 2026 Same Property NOI growth range of 2.50% to 3.50% (previously 2.25% to 3.25%). Bad debt reserve of 0.95% of total revenues at the midpoint (previously 1.00% of total revenues). Interest expense, net of interest income, excluding unconsolidated joint ventures, of $121.2 million at the midpoint (previously $121.0 million). The following table reconciles the Company’s 2026 net income guidance range to the Company’s 2026 NAREIT and Core FFO guidance ranges: Earnings Conference Call Kite Realty Group will conduct a conference call to discuss its financial results on Wednesday, April 29, 2026, at 12:00 p.m. Eastern Time. A live webcast of the conference call will be available on KRG’s website at www.kiterealty.com or at the following link: KRG First Quarter 2026 Webcast. The dial-in registration link is: KRG First Quarter 2026 Teleconference Registration. In addition, a webcast replay link will be available on KRG’s website. About Kite Realty Group Kite Realty Group (NYSE: KRG) is a real estate investment trust (REIT) that owns and operates a high-quality portfolio of open-air shopping centers and mixed-use destinations. The Company’s portfolio is concentrated in high-growth Sun Belt and select strategic gateway markets. Publicly listed since 2004, KRG brings more than six decades of experience in developing, operating, and investing in real estate, using a disciplined, hands-on approach to enhance portfolio quality and maximize long-term value for all stakeholders. As of March 31, 2026, the Company owned interests in 169 U.S. open-air shopping centers and mixed-use assets, comprising approximately 27.3 million square feet of gross leasable space. For more information, please visit kiterealty.com. Connect with KRG: LinkedIn | X | Instagram | Facebook Safe Harbor This release, together with other statements and information publicly disseminated by us, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, performance, transactions or achievements, financial or otherwise, may differ materially from the results, performance, transactions or achievements, financial or otherwise, expressed or implied by the forward-looking statements. Risks, uncertainties and other factors that might cause such differences, some of which could be material, include but are not limited to: economic, business, banking, real estate and other market conditions, particularly in connection with low or negative growth in the U.S. economy as well as economic uncertainty (including from an economic slowdown or recession, federal government shutdown, disruptions related to tariffs and other trade or sanction issues, geopolitical instability in the Middle East, rising interest rates, inflation, unemployment, or limited growth in consumer income or spending); financing risks, including the availability of, and costs associated with, sources of liquidity; the Company’s ability to refinance, or extend the maturity dates of, the Company’s indebtedness; the level and volatility of interest rates; the financial stability of the Company’s tenants; the competitive environment in which the Company operates, including potential oversupplies of, or a reduction in demand for, rental space; acquisition, disposition, development and joint venture risks, including the ability to complete them on the terms and timing anticipated; property ownership and management risks, including the relative illiquidity of real estate investments, and expenses, vacancies or the inability to rent space on favorable terms or at all; the Company’s ability to maintain the Company’s status as a real estate investment trust for U.S. federal income tax purposes; potential environmental and other liabilities; impairment in the value of real estate property the Company owns; the attractiveness of our properties to tenants; the actual and perceived impact of e-commerce on the value of shopping center assets, and changing demographics and customer traffic patterns; business continuity disruptions and a deterioration in our tenants’ ability to operate in affected areas or delays in the supply of products or services to us or our tenants from vendors that are needed to operate efficiently; risks related to our current geographical concentration of properties in the states of Texas, Florida, and North Carolina and the metropolitan statistical areas of New York, Atlanta, Seattle, Chicago, and Washington, D.C.; civil unrest, acts of violence, terrorism or war, acts of God, climate change, epidemics, pandemics, natural disasters and severe weather conditions, including such events that may result in underinsured or uninsured losses or other increased costs and expenses; changes in laws and government regulations, including governmental orders affecting the use of the Company’s properties or the ability of its tenants to operate, and the costs of complying with such changed laws and government regulations; possible changes in consumer behavior due to public health crises and the fear of future pandemics; our ability to satisfy environmental, social or governance standards set by various constituencies; insurance costs and coverage, especially in Florida and Texas coastal areas and North Carolina; risks associated with cyber attacks and the loss of confidential information and other business disruptions; risks associated with the use of artificial intelligence and related tools; other factors affecting the real estate industry generally; and other risks identified in reports the Company files with the Securities and Exchange Commission or in other documents that it publicly disseminates, including, in particular, the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in the Company’s quarterly reports on Form 10-Q. The Company undertakes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. This Earnings Release also includes certain forward-looking non-GAAP information. These non-GAAP financial measures should be considered along with, but not as alternatives to, net income (loss) as a measure of our operating performance. Please see the following pages for the corresponding definitions and reconciliations of such non-GAAP financial measures. Contact Information: Kite Realty Group Tyler Henshaw SVP, Capital Markets & Investor Relations 317.713.7780 [email protected]