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Kite Realty Group (KRG)
NYSE:KRG
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Earnings Data
Report Date
Feb 17, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.1Last Year’s EPS
$0.04Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -3.53%
|Next Earnings Date:Feb 17, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant achievements such as record leasing volume, increased occupancy, and strong development plans, alongside successful financial maneuvers like bond issuance and dividend increases. However, there were some concerns about tenant credit and bad debt impacts. Overall, the sentiment leans positive due to the strong operational and financial performance.Company Guidance
During the Kite Realty Group's Q3 2024 earnings call, the executives provided updated guidance, highlighting notable achievements and future expectations. The company reported leasing approximately 1.7 million square feet, boosting their portfolio to 95% leased, with a 160 basis point year-over-year increase. Year-to-date, KRG executed 17 anchor leases with 38% comparable cash spreads and 33% returns on capital, while small shop lease rates increased by 100 basis points, generating a 57% return on capital. The signed-not-open pipeline remains robust at $33 million, with an average ABR over $26, nearly 25% above the current portfolio ABR. The company anticipates their signed-not-open pipeline to remain elevated through the first half of 2025. For 2024, NAREIT FFO per share was $0.51, with a same-property NOI growth of 3%. KRG raised their full-year FFO guidance to $2.06-$2.08, expecting accelerated same-property NOI growth in Q4. Additionally, KRG's dividend was increased to $0.27 per share, reflecting an 8% year-over-year hike. The strong balance sheet, with a net debt to EBITDA of 4.9x, positions KRG to explore further investment opportunities while maintaining long-term leverage targets.Record Leasing Volume
KRG delivered the highest quarterly leasing volume in the company's history with approximately 1.7 million square feet of space leased.
Increased Portfolio Leased Rate
Portfolio occupancy reached 95%, representing a 160 basis point year-over-year increase.
Strong Anchor Lease Execution
Executed 17 anchor leases with a 38% comparable cash spread and a 33% return on capital.
Development Projects
Announced expansion plans for One Loudoun, including 86,000 square feet of retail and 33,000 square feet of office space.
Dividend Increase
Increased dividend to $0.27 per share, representing a 3.8% sequential increase and an 8% increase year-over-year.
Successful Bond Issuance
Issued a 7-year $350 million bond at a 4.95% coupon with a 38 basis point compression in credit spread.
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KRG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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KRG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $26.04 | $25.67 | -1.42% |
| Jul 30, 2024 | $25.23 | $24.41 | -3.25% |
| Apr 30, 2024 | $21.34 | $20.96 | -1.78% |
| Feb 13, 2024 | $20.78 | $20.48 | -1.44% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Kite Realty Group (KRG) report earnings?
Kite Realty Group (KRG) is schdueled to report earning on Feb 17, 2025, TBA Not Confirmed.
What is Kite Realty Group (KRG) earnings time?
Kite Realty Group (KRG) earnings time is at Feb 17, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is KRG EPS forecast?
KRG EPS forecast for the fiscal quarter 2024 (Q4) is $0.1.
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