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KRG

Kite Realty Group Trust

KRG

Kite Realty Group Trust • NYSE
$23.14 ▲ 0.30% (+0.07)
Market Cap $5.08 B
52w High $27.58
52w Low $18.52
Dividend Yield 1.16%
P/E 36.16
Volume 656.67K
Outstanding Shares 219.63M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $205.055M ▼ $103.553M ▼ $-16.207M ▼ -7.904% ▼ $-0.07 ▼ $108.019M ▼
Q2-2025 $213.395M ▼ $111.277M ▲ $110.318M ▲ 51.697% ▲ $0.5 ▲ $246.426M ▲
Q1-2025 $221.762M ▲ $110.398M ▼ $23.73M ▲ 10.701% ▲ $0.11 ▲ $151.917M ▼
Q4-2024 $214.716M ▲ $110.558M ▲ $21.824M ▲ 10.164% ▲ $0.099 ▲ $153.431M ▲
Q3-2024 $207.253M $109.313M $16.729M 8.072% $0.076 $146.446M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $68.743M ▼ $6.648B ▼ $3.372B ▼ $3.173B ▼
Q2-2025 $182.044M ▲ $6.858B ▲ $3.436B ▲ $3.318B ▲
Q1-2025 $49.061M ▼ $6.683B ▼ $3.311B ▼ $3.268B ▼
Q4-2024 $478.056M ▲ $7.092B ▼ $3.68B ▼ $3.312B ▼
Q3-2024 $467.53M $7.13B $3.681B $3.349B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-16.41M ▼ $116.181M ▼ $1.784M ▲ $-213.321M ▼ $-95.356M ▼ $85.424M ▲
Q2-2025 $112.599M ▲ $132.834M ▲ $-49.807M ▼ $49.676M ▲ $132.703M ▲ $83.907M ▲
Q1-2025 $24.264M ▲ $74.06M ▼ $227.837M ▲ $-380.317M ▼ $-78.42M ▼ $39.697M ▼
Q4-2024 $22.23M ▲ $110.979M ▼ $-29.532M ▲ $-71.153M ▼ $10.294M ▲ $71.945M ▼
Q3-2024 $17.053M $112.363M $-314.858M $166.758M $-35.737M $77.579M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Management Service
Management Service
 $0 ▲$0 ▲$0 ▲$0 ▲
Real Estate Other
Real Estate Other
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Kite Realty’s revenue has grown steadily over the last several years and its core property profit margins look fairly healthy for a retail REIT. Operating performance has moved from small losses around the pandemic period to consistent operating income more recently. Net results, however, are still thin and somewhat volatile, swinging between small profits and small losses, which is common in this sector due to non‑cash items and one‑time effects. Overall, the business looks more stable and mature than it did a few years ago, but earnings at the bottom line remain sensitive and not yet robust.

Balance Sheet

Balance Sheet The balance sheet shows a large, mostly stable real estate asset base funded by a mix of debt and equity. Debt levels are meaningful but appear reasonably controlled and have inched down from earlier peaks, while equity has built up over time, indicating gradual value creation within the portfolio. Cash on hand is modest, which is typical for a REIT that regularly returns capital and reinvests, so ongoing access to credit markets remains important. The overall picture is a leveraged but fairly balanced capital structure for a property company, with no obvious signs of distress but a clear dependence on healthy financing conditions.

Cash Flow

Cash Flow Cash flow from operations has improved steadily and now comfortably covers regular capital spending, leaving a solid cushion of free cash flow. Investment in properties has been consistent but not overly aggressive, suggesting a focus on maintaining and selectively upgrading assets rather than heavy speculative development. This positive and growing free cash flow profile supports Kite Realty’s ability to fund dividends, manage debt, and invest in its centers without stretching its finances, although it still needs to manage interest costs carefully in a higher‑rate environment.

Competitive Edge

Competitive Edge Kite Realty is positioned around necessity‑based, grocery‑anchored shopping centers in fast‑growing Sun Belt and select gateway markets, which tends to be a more resilient corner of brick‑and‑mortar retail. Its focus on everyday needs, strong tenant relationships, and a vertically integrated platform for leasing, management, and development supports high occupancy and solid leasing spreads. The company’s experience with mixed‑use projects and town‑center style redevelopments further differentiates it from more traditional, purely retail REITs. Key risks include ongoing pressure on weaker retailers, competition from both e‑commerce and newer centers, and the need to keep properties fresh and relevant as consumer preferences evolve.

Innovation and R&D

Innovation and R&D While it does not conduct R&D in the traditional sense, Kite Realty is unusually active in adopting property technology and data‑driven tools for a retail REIT. Its partnership with Fifth Wall gives it a pipeline into new AI and real estate technologies, while systems like MRI PMX and process automation tools support better integration, leasing decisions, and operational efficiency. The firm is also using data to manage energy usage and sustainability initiatives, and it applies a more “placemaking” mindset in mixed‑use developments. The main watchpoints are how effectively these tools translate into lower costs, higher tenant satisfaction, and stronger property performance over time rather than remaining purely strategic talking points.

Summary

Kite Realty today looks like a more scaled, better integrated, and more stable retail REIT than it was five years ago. Revenues and operating cash flows have trended upward, margins are decent at the property level, and the balance sheet is leveraged but not extreme for the sector. Its focus on necessity‑based, grocery‑anchored centers in growth markets, along with mixed‑use redevelopment skills, provides a defensible niche within retail real estate. At the same time, bottom‑line earnings remain thin, the business is exposed to interest‑rate and tenant health risks, and continued capital access is important. The company’s embrace of proptech, data analytics, and sustainability, if executed well, could gradually strengthen its competitive edge and operational resilience, but the tangible benefits will need to be monitored over the coming years.

NEWS

November 4, 2025 · 10:00 AM UTC

Nordstrom Rack to Open New Location in Spokane, WA

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October 29, 2025 · 4:15 PM UTC

Kite Realty Group Reports Third Quarter 2025 Operating Results

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September 25, 2025 · 4:15 PM UTC

Kite Realty Group to Report Third Quarter 2025 Financial Results on October 29, 2025

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September 8, 2025 · 5:15 PM UTC

Kite Realty Group to Present at the BofA Securities 2025 Global Real Estate Conference

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