NYSE$KRG

Kite Realty Group Trust · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Kite Realty Group Trust reported strong operating results for Q4 2019, highlighted by a sector-leading small shop leased percentage of 92.5% and an increase in Same-Property NOI by 3.2%.

Kite Realty Group Trust (NYSE:KRG) reported strong operating results for the fourth quarter ended December 31, 2019. The company enhanced the quality of its portfolio and reduced leverage to an all-time low. KRG remains a top-tier operator by delivering strong leasing results.

  • Net income attributable to common shareholders was $15.3 million, or $0.18 per common share.
  • NAREIT Funds From Operations of the Operating Partnership (FFO) was $32.8 million, or $0.38 per diluted common share.
  • FFO as adjusted was $34.7 million, or $0.40 per diluted common share.
  • Same-Property Net Operating Income (NOI) increased by 3.2%.

Headline financials

Total Revenue

$75.3M

Previous: $86.9M-13.4%
EPS (adj)

$0.40

Previous: $0.48-16.7%
Retail Leased %

96.1%

No prior period
Capital Expenditures

$15.7M

Previous: $12M+30.4%
Free Cash Flow

$16.1M

Previous: $23.3M-30.9%
Net Income

$15.9M

Previous: -$31.2M+150.8%
Operating Income

$30.2M

Previous: -$13.8M+319.4%
Gross Profit

$54.6M

Previous: $63.7M-14.3%
Cash & Equivalents

$31.3M

Previous: $35.4M-11.4%
Total Assets

$2.65B

Previous: $3.17B-16.5%
Stock-Based Comp

$1.36M

Previous: $854K+59.1%

Revenue & EPS history

Kite Realty · Revenue · Quarterly

$75.3M

Q4 2019-13.4%vs Q4 2018
Beat estimate in 10 of 12 quarters(83%)
ActualEstimate

Forward guidance

KRG is providing 2020 guidance for net income of $0.13 to $0.17 per share and NAREIT FFO $1.48 to $1.52 per share. Same-Property NOI Growth (excluding redevelopments) 1.00% - 2.00%. Bad Debt Assumption (in addition to known vacancies and any declared or imminent bankruptcies) 90bps of Same-Property Revenues.

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 Q4 2019

Historical avgQ4 2019

-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

Earnings price reactions
QuarterReport dateReaction (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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