Kite Realty swings to Q3 net loss but raises FFO guidance, dividend up 7.4%
Overview
Kite Realty Q3 2025 net loss contrasts with net income in Q3 2024
Company raises 2025 FFO per share guidance and same property NOI assumption
Repurchased 3.4 mln shares for $74.9 mln, increased dividend by 7.4%
Outlook
Kite Realty raises 2025 NAREIT FFO guidance to $2.09-$2.11 per share
Company expects 2025 net income of $0.60-$0.62 per diluted share
Kite Realty anticipates 2025 Same Property NOI growth of 2.25%-2.75%
Result Drivers
LEASING DEMAND - Co executed 1.2 mln sq ft of leases with 12.2% cash leasing spreads, indicating strong leasing demand
ANCHOR LEASES - Executed 7 new anchor leases with 38.4% cash leasing spreads, including Whole Foods and Nordstrom Rack
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Rental Income | $202.19 mln | ||
Q3 Net Income | -$16.41 mln | ||
Q3 Basic EPS | -$0.07 | ||
Q3 Fee Income | $1.29 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy"
Wall Street's median 12-month price target for Kite Realty Group Trust is $25.00, about 9.5% above its October 28 closing price of $22.63
The stock recently traded at 52 times the next 12-month earnings vs. a P/E of 58 three months ago
Press Release:
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