IBJNews

Kite Realty sees decline in quarterly results

Back to TopCommentsE-mailPrintBookmark and Share

Indianapolis-based Kite Realty Group Trust on Wednesday reported a fourth-quarter loss on declining revenue.

The real estate investment trust lost $1.2 million during the quarter ended Dec. 31, compared to a profit of $600,000 in the same quarter of 2009.

Revenue was $25.9 million in the recent quarter, down from $29.3 million in the year-ago period.

Funds from operations, or FFO, was $7.8 million, or 11 cents per share, in the fourth quarter, compared to $8.7 million, or 12 cents per share, in the prior year.

FFO is a common performance measure used by real estate investment trusts.

In full-year results, Kite reported FFO of $30.3 million, or 42 cents per share, in 2010 compared to $28.7 million, or 48 cents per share, for 2009.

Company revenue decreased from $115.3 million in 2009 to $101.4 million in 2010. The company lost $8.6 million last year compared to a loss of $1.8 million the year before.
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
ADVERTISEMENT