Kite Realty posts gains in funds from operations

Kite Realty Group Trust posted fourth-quarter funds from operations of $12.7 million, up from $11.8 million a year ago. For the year, Kite had $47.2 million in funds from operations, compared with $43.3 million in 2006.

As of the end of the year, Kite had an ownership interest in 50 retail properties. Those properties totaled 7.4 million square feet and were 94.8 percent occupied.

Funds from operations, a common measurement of real estate investment trusts like Kite, exclude depreciation and amortization.

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