Kite Realty Group Trust (KRG) Misses Q2 EPS by 4c

Kite Realty Group Trust (NYSE: KRG) reported Q2 EPS of $0.44, $0.04 worse than the analyst estimate of $0.48. Revenue for the quarter came in at $83.7 million versus the consensus estimate of $84.62 million.

Kite Realty Group Trust sees FY2015 EPS of $1.93-$2.00.

“We continue to deliver strong results and execute on our strategic plan as evidenced by our second quarter performance,” said John A. Kite, Chairman and CEO. “We have meticulously redeployed the majority of our net sale proceeds including the purchase of $145.8 million of premier unencumbered assets in our core markets. Our liquidity position and financial flexibility are the strongest in our Company’s history as we remain dedicated to maintaining and improving our investment grade balance sheet. The second quarter is a testament to the team’s hard work and we are excited about our reinvigorated redevelopment pipeline and the portfolio’s long-term growth opportunities.”

For earnings history and earnings-related data on Kite Realty Group Trust (KRG) click here.

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