Kite Realty Group Trust (NYSE: KRG) reported Q4 EPS of ($0.18), $0.21 worse than the analyst estimate of $0.03.

• Realized net income attributable to common shareholders of $15.3 million, or $0.18 per common share, compared to net loss of $31.2 million, or $0.37 per common share, for the same period in 2018.
• Generated NAREIT Funds From Operations of the Operating Partnership (FFO) of $32.8 million, or $0.38 per diluted common share, and FFO as adjusted of $34.7 million, or $0.40 per diluted common share.
• Increased Same-Property Net Operating Income (NOI) by 3.2%.

“2019 was a transformative year for KRG. We enhanced the quality of our portfolio and reduced leverage to an all-time low,” said John A. Kite, Chairman and CEO. “KRG remains a top-tier operator by delivering strong leasing results, with a sector-leading small shop leased percentage of 92.5% in the fourth quarter. As we embark on a new decade with an improved portfolio, we are focused on capitalizing on growth opportunities and maximizing FFO.”

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. The components of the FFO guidance are as follows:

For earnings history and earnings-related data on Kite Realty Group Trust (KRG) click here.