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Kite reports larger quarterly loss, higher revenue

IBJ Staff
August 3, 2012
Keywords
Commercial Real Estate, Kite Realty Group, Real Estate & Retail, Real Estate Investment Trust
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Kite Realty Group Trust Inc.'s loss more than doubled in the second quarter as a slight increase in revenue was offset by $1.8 million in interest and depreciation expenses on some of its properties.
    
The Indianapolis-based real estate investment trust said Thursday that it lost $2.7 million, compared with a loss of $1.1 million in the year-ago period.

Kite saw quarterly funds from operations, or FFO, fall to $8 million, or 11 cents per share, compared with $8.4 million, or 12 cents per share, in the second quarter of 2011. FFO is a common measure of REIT performance.

Revenue for the quarter grew 3.1 percent, to $25.1 million.

The company, which owns interests in 58 retail properties totaling 8.7 million square feet, said the properties were 93-percent leased as of June 30, compared with 93.4 percent as of June 30, 2011.

Kite reported its results after the market closed Thursday. Its shares rose 15 cents, or 3 percent, in morning trading Friday, to $5.08 each.
 

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  1. Saw the Indy Men's Chorus "Music of Gilbert & Sullivan" at the Indiana Historical Society on Sunday evening.

  2. Temporary workers are not "tools" they are people and companies that keep large amounts of temp staff are cheating.

  3. I miss having them around. I hope one of their stores is in the general Meridian/86th Street area. I will make good use of it.

  4. The Fringe! Plus, the simple fact that there are so many local faves in such close proximity to each other.

  5. I remenber, watching the toll road, being built, through South Bend, when I was 10 years old. I believe, back then that it was estimated, that the toll road, would be paid for in 20 years and then it would be free. I am now 71, what happened? Since the power is in the people, by that, I mean that, we the people are in total control of everything. I, suggest that no one ever use the toll road again, let it go broke. We the people can control the price of everything, from groceries to gas, if we would just do it. If we don't pay the asking price, the sellers will lower the price and if we wait awhile, they will lower the price to what we accept as reasonable. I would like to know why a highway like interstate 94, is so well maintained, a much better highway, than the toll road, but has no tolls. I would also like to know why, a sitting governor, with a term limit, maximum of eight years, can lease, public property, for 75 years. Even though I have transponders in both of my trucks and will not be affected by the increase, I have been and will contine to avoid using the toll road. I make many trips from northern Indiana to Chicago, every year, and I prefer the better highway, I94!

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