NYSE$KRG
Kite Realty Group Trust · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Kite Realty reported strong first quarter results driven by blended cash leasing spreads and increased embedded rent bumps. The company raised its 2024 NAREIT FFO per share guidance and same-property NOI growth assumption.
Kite Realty Group Trust reported its operating results for the first quarter ended March 31, 2024. Net income attributable to common shareholders was $14.2 million, or $0.06 per diluted share. The company raised its 2024 NAREIT FFO per share guidance by $0.02 and its same-property NOI growth assumption by 50 basis points at the midpoint.
- Generated NAREIT FFO of the Operating Partnership of $112.8 million, or $0.50 per diluted share.
- Same Property NOI increased by 1.8%.
- Executed 185 new and renewal leases representing approximately 1.0 million square feet.
- Blended cash leasing spreads of 12.8% on 130 comparable leases.
Headline financials
Revenue & EPS history
Kite Realty · Revenue · Quarterly
$207M
Forward guidance
The Company expects to generate net income attributable to common shareholders of $0.30 to $0.36 per diluted share in 2024. The Company is raising its 2024 NAREIT FFO guidance range to $2.02 to $2.08 per diluted share from $2.00 to $2.06 per diluted share.
Tailwinds
- 2024 Same Property NOI range of 1.5% to 2.5%, which represents a 50-basis point increase at the midpoint.
- Full-year bad debt assumption of 0.55% to 1.05% of total revenues, which represents a 20-basis point decrease at the midpoint.
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 2024
-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% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro