Kite Realty Group Q3 FFO Meets Estimates at 52 Cents Per Share; Revenue Misses Forecast

Kite Realty Group Trust (KRG) reported third-quarter funds from operations of $107 million, or 52 cents per share, matching the average estimate of five analysts surveyed by Zacks Investment Research. The Indianapolis-based real estate investment trust posted revenue of $190.3 million, missing Street forecasts of $200 million from three analysts surveyed by Zacks. The company recorded a loss of $13.3 million, or 7 cents per share. Funds from operations, a closely watched REIT measure that adds back depreciation and amortization to net income, met expectations. Kite Realty Group expects full-year funds from operations in the range of $2.08 to $2.12 per share.