Kite Realty Group Trust (KRG) Reports Q4 Loss of $0.37, Revenues Beat; Announces Plan to Fortify Balance Sheet, Improve Asset Quality, and Focus on Preferred Markets

Kite Realty Group Trust (NYSE: KRG) reported Q4 EPS of ($0.37), versus $0.00 reported last year. Revenue for the quarter came in at $86.94 million versus the consensus estimate of $85.32 million.

“2018 was a strong year for KRG in terms of operational performance and strategic execution,” said Chairman and Chief Executive Officer, John A. Kite. “Our ABR is at an all-time high; our small shop leased percentage is at an all-time high; and our net-debt-to-EBITDA ratio is at a near-low. As we head into 2019, we are focused on taking KRG to the next level. We have conducted a bottoms-up analysis of our entire portfolio and all major U.S. markets, and we have identified a strategy to fortify our balance sheet even further by selling $350 to $500 million in assets to pay down debt, improve our portfolio metrics, and focus our operations in markets where we can gain scale and generate attractive returns.”

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

You May Also Be Interested In

• FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
• Cerebras Systems posts 94% revenue jump, announces OpenAI deal
• H.C. Wainwright Reiterates Buy Rating on Incyte (INCY)