![]() Operating retail portfolio annualized base rent (ABR) per square foot of $19.57 at March 31, 2022, a 5.6% increase year-over-year.Cash leasing spreads of 58.7% on 26 comparable new leases, 8.9% on 79 comparable renewals, and 16.1% on a blended basis.Executed 182 new and renewal leases representing approximately 1.1 million square feet. ![]() ![]() Same Property Net Operating Income (NOI) increased by 5.9% (including legacy RPAI properties).Excludes the impact of $0.9 million of merger and acquisition costs.Excludes a positive impact of $1.1 million of prior period collection impact related to the recovery of cash and non-cash bad debt and accounts receivable in 2022.Generated FFO, as adjusted, of the Operating Partnership of $101.5 million, or $0.46 per diluted share, which is a 35% per share increase over the comparable period in 2021.Generated NAREIT Funds From Operations of the Operating Partnership (FFO) of $101.7 million, or $0.46 per diluted share.Net loss attributable to common shareholders of $16.8 million, or $0.08 per diluted share, compared to net income of $24.6 million, or $0.29 per diluted share, for the quarters ended Maand 2021, respectively.KRG’s results continue to validate our ability to scale KRG’s operating platform across our high-quality portfolio of open-air shopping destinations to drive long-term value creation.” Based on the first quarter’s outperformance and our improved outlook for the balance of 2022, we are increasing our FFO, as adjusted guidance by $0.05 per share at the midpoint and increasing same-property NOI growth by 75 basis points at the midpoint. “KRG continues to capitalize on robust demand for open-air retail shopping destinations, as evidenced by our sustained leasing volume and over 16% cash leasing spreads. “KRG had an exceptional first quarter of 2022 and our team is executing on all fronts,” said John A. INDIANAPOLIS, Ap(GLOBE NEWSWIRE) - Kite Realty Group Trust (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored neighborhood and community centers, along with vibrant mixed-use assets, reported today its operating results for the first quarter ended March 31, 2022. Share repurchase program upsized to $300 million from $150 million Leased over 1 million square feet at 16.1% comparable blended cash leasing spreadsĪcquired $66 million of high-quality Sun Belt assets
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