NYSE$KRG
Kite Realty Group Trust · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported operating results for the first quarter ended March 31, 2023.
Kite Realty Group Trust reported a net income attributable to common shareholders of $5.4 million, or $0.02 per diluted share, for the quarter ended March 31, 2023, compared to a net loss of $16.8 million, or $0.08 per diluted share, for the same period in 2022. The company raised its 2023 NAREIT FFO guidance and experienced a 6.5% increase in Same Property NOI year-over-year.
- Generated NAREIT FFO of the Operating Partnership of $113.8 million, or $0.51 per diluted share.
- Same Property NOI increased by 6.5%.
- Executed 144 new and renewal leases representing over 831,000 square feet.
- Retail portfolio percent leased of 94.8% at March 31, 2023, a sequential increase of 20 basis points and a 120-basis point increase on a year-over-year basis.
Headline financials
Revenue & EPS history
Kite Realty · Revenue · Quarterly
$207M
Forward guidance
The Company expects to generate net income attributable to common shareholders of $0.05 to $0.11 per diluted share in 2023. The Company is raising its 2023 NAREIT FFO guidance range to $1.92 to $1.98 per diluted share from $1.89 to $1.95 per diluted share.
Tailwinds
- 2023 same property NOI range of 2.25% to 3.25%, which represents a 25-basis point increase at the midpoint.
- Full-year bad debt assumption of 1.15% of total revenues, which represents a 10-basis point decrease at the midpoint.
- Additional disruption related to Bed Bath & Beyond Inc. and Party City Holdings Inc. of 0.75% of total revenues ($0.03 of FFO per diluted share), of which approximately 70 basis points is related to the balance of 2023 and assumes no additional revenue from Bed Bath & Beyond Inc.
- Transaction activity is expected to be earnings neutral.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-0.1%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+1.7%
Avg return
30 days after
39%
25 / 64 earnings
Positive
+16.3%
Q1 2010
Best reaction
-12.8%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.3% | +1.7% | +5.3% | |
| Q4 2025 | +3.0% | +3.7% | +1.2% | |
| Q3 2025 | -1.6% | -0.8% | +4.0% | |
| Q1 2025 | +0.5% | +2.8% | +2.6% | |
| Q4 2024 | -3.2% | -5.6% | -8.2% | |
| Q3 2024 | -0.3% | +3.0% | +7.1% | |
| Q2 2024 | +2.0% | +0.7% | +6.8% | |
| Q1 2024 | -1.3% | -2.9% | -1.2% | |
| Q4 2023 | -2.3% | -0.9% | -4.1% | |
| Q3 2023 | +7.1% | +11.5% | +4.2% | |
| Q2 2023 | +3.0% | +3.3% | -1.0% | |
| Q1 2023 | -1.8% | -0.3% | -6.2% | |
| Q4 2022 | +1.5% | +2.7% | -8.0% | |
| Q3 2022 | +0.0% | +5.3% | +13.1% | |
| Q2 2022 | +0.3% | +0.9% | -1.5% | |
| Q1 2022 | +1.3% | +0.2% | -3.5% | |
| Q4 2021 | +0.0% | +0.6% | +1.8% | |
| Q3 2021 | -0.7% | +2.7% | +1.7% | |
| Q2 2021 | -1.9% | +1.4% | +2.4% | |
| Q1 2021 | -0.0% | +1.7% | +1.8% | |
| Q4 2020 | +3.4% | +3.8% | +19.8% | |
| Q3 2020 | -2.9% | -3.0% | +37.5% | |
| Q2 2020 | +1.0% | +7.8% | +21.6% | |
| Q1 2020 | -2.2% | -1.8% | +50.9% | |
| Q4 2019 | -4.7% | -3.0% | -47.4% | |
| Q3 2019 | -0.3% | -0.7% | +5.5% | |
| Q2 2019 | -3.4% | -0.1% | -5.8% | |
| Q1 2019 | -1.7% | +0.2% | -6.2% | |
| Q4 2018 | -4.6% | -5.1% | -6.6% | |
| Q3 2018 | -0.1% | +0.1% | +2.6% | |
| Q2 2018 | -0.1% | -0.8% | +3.6% | |
| Q1 2018 | +2.0% | +2.8% | +5.5% | |
| Q4 2017 | -8.2% | -10.7% | -7.9% | |
| Q3 2017 | -1.2% | -2.4% | +1.1% | |
| Q2 2017 | +7.2% | +2.9% | +2.4% | |
| Q1 2017 | -0.8% | -3.3% | -12.6% | |
| Q4 2016 | +1.1% | -0.4% | -7.6% | |
| Q3 2016 | -4.2% | -5.0% | -4.9% | |
| Q2 2016 | +1.7% | -1.2% | -3.6% | |
| Q1 2016 | -1.2% | — | — | |
| Q4 2015 | -0.4% | — | — | |
| Q3 2015 | -0.5% | — | — | |
| Q2 2015 | +0.8% | — | — | |
| Q1 2015 | -0.1% | — | — | |
| Q4 2014 | -2.1% | — | — | |
| Q3 2014 | +3.3% | — | — | |
| Q2 2014 | -2.3% | — | — | |
| Q1 2014 | +0.8% | — | — | |
| Q4 2013 | +3.6% | — | — | |
| Q3 2013 | -0.8% | — | — | |
| Q2 2013 | -1.2% | — | — | |
| Q1 2013 | +0.3% | — | — | |
| Q4 2012 | +1.8% | — | — | |
| Q3 2012 | -1.5% | — | — | |
| Q2 2012 | +2.0% | — | — | |
| Q1 2011 | +2.4% | — | — | |
| Q1 2012 | +4.9% | — | — | |
| Q4 2011 | -1.4% | — | — | |
| Q3 2011 | +4.4% | — | — | |
| Q2 2011 | -12.8% | — | — | |
| Q4 2010 | -4.2% | — | — | |
| Q3 2010 | -1.1% | — | — | |
| Q2 2010 | -4.9% | — | — | |
| Q1 2010 | +16.3% | — | — |
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