Kite Realty Group Trust Sees FY24 Net Income $0.30-$0.36; Updates Nareit FFO From $2.00-$2.06 To $2.02-$2.08
$KRG
Real Estate Investment Trusts
Real Estate
2024 Earnings Guidance
The Company expects to generate net income attributable to common shareholders of $0.30 to $0.36 per diluted share in 2024. The Company is raising its 2024 NAREIT FFO guidance range to $2.02 to $2.08 per diluted share from $2.00 to $2.06 per diluted share, based, in part, on the following assumptions:
- 2024 Same Property NOI range of 1.5% to 2.5%, which represents a 50-basis point increase at the midpoint.
- Full-year bad debt assumption of 0.55% to 1.05% of total revenues, which represents a 20-basis point decrease at the midpoint.
The following table reconciles the Company's 2024 net income guidance range to the Company's 2024 NAREIT FFO guidance range:
| Low | High | |
| Net income | $0.30 | $0.36 |
| Depreciation and amortization | 1.73 | 1.73 |
| Realized gains and losses on sales of operating and unconsolidated properties, net | (0.01) | (0.01) |
| NAREIT FFO | $2.02 | $2.08 |