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

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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