KITE REALTY GROUP TRUST KRG

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

Kite Realty Group Trust is a publicly held REIT that, through its majority-owned subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development, and redevelopment of high-quality, open-air, grocery-anchored shopping centers and vibrant mixed-use assets that are primarily located in high-growth Sun Belt markets and select strategic gateway markets in the United States. Following our merger with Retail Properties of America, Inc. ("RPAI") in 2021, we became a top-five open-air shopping center REIT based upon market capitalization. We derive our revenue primarily from the collection of contractual rents and reimbursement payments from tenants under existing lease agreements at each of our properties. Therefore, our operating results depend materially on, among other things, the ability of our tenants to make required lease payments, the health and resilience of the U.S. retail sector, particularly in light of increased tariffs in 2025, interest rate volatility, job growth, the real estate market, and overall economic conditions.

Last close 24.68 2026-10-23
Market cap $4.94B 2026-06-30 share count
52-week range 21.64 - 29.92

Valuation FY2025 figures against the last close

P/S5.9x
P/E18.0x
P/FCF17.8x
EV/EBITDA—
Dividend yield4.8%
Diluted EPS1.37

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Minimum rent
  • Tenant reimbursements
  • Other
Revenue by segment, 3 categories over 3 years. The same figures are in the table below. FY2025 Minimum rent, FY2025: 655.6M (77.1%) 77% Minimum rent Tenant reimbursements, FY2025: 177M (20.8%) 21% Tenant reimbursements Other, FY2025: 17.5M (2.1%) FY2024 Minimum rent, FY2024: 650.3M (77.3%) 77% Tenant reimbursements, FY2024: 174.5M (20.8%) 21% Other, FY2024: 16.1M (1.9%) FY2023 Minimum rent, FY2023: 642.3M (78.1%) 78% Tenant reimbursements, FY2023: 163.9M (19.9%) 20% Other, FY2023: 16.6M (2.0%)
Segment FY2025FY2024FY2023
Minimum rent $655.6M $650.3M $642.3M
Tenant reimbursements $177.0M $174.5M $163.9M
Other $17.5M $16.1M $16.6M

As the company reported it, from the “SEGMENT REPORTING - Schedule of Segment Revenue and Significant Segment Expenses (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $844.4M$837.5M$821.3M$802.0M$373.3M$266.6M$315.2M$354.2M$358.8M$354.1M
SG&A $55.5M$52.6M$56.1M$54.9M$34.0M$30.8M$28.2M$21.3M$21.7M$20.6M
Total operating expenses $701.2M$729.6M$693.4M$737.4M$426.1M$236.4M$282.4M$336.6M$294.1M$288.7M
Operating income —$111.4M$152.2M$91.7M-$21.5M$35.0M$71.8M$21.0M$79.9M$69.7M
Interest expense $132.6M$125.7M$105.3M$104.3M$60.4M$50.4M$59.3M$66.8M$65.7M$65.6M
Pre-tax income $299.1M$4.2M$48.0M-$12.6M-$80.5M-$15.5M-$252.0K-$46.3M$12.0M$2.0M
Income tax $467.0K$139.0K$533.0K$43.0K$310.0K$696.0K$282.0K$227.0K$100.0K$814.0K
Net income $298.7M$4.1M$47.5M-$12.6M-$80.8M-$16.2M-$534.0K-$46.6M$11.9M$1.2M
EPS, basic 1.370.020.22-0.06-0.73-0.19-0.01-0.560.140.01
EPS, diluted 1.370.020.22-0.06-0.73-0.19-0.01-0.560.140.01
Shares, diluted (wtd. avg.) 218.4M219.7M219.7M219.1M110.6M84.1M83.9M83.7M83.7M83.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $36.8M$128.1M$36.4M$122.0M$93.2M$46.6M$52.8M$45.5M$32.2M$28.9M
Short-term investments $0$350.0M$0$0$125.0M$0————
Other intangibles $107.2M$168.1M$241.1M$354.0M$498.4M$29.6M$35.7M$47.6M$66.3M$86.3M
Total assets $6.66B$7.09B$6.94B$7.34B$7.64B$2.61B$2.65B$3.17B$3.51B$3.66B
Long-term debt $3.03B$3.23B$2.83B$3.01B$3.15B$1.17B$1.15B$1.54B$1.70B$1.73B
Total liabilities $3.47B$3.68B$3.30B$3.52B$3.66B$1.33B$1.31B$1.71B$1.87B$1.92B
Retained earnings -$1.56B-$1.60B-$1.37B-$1.21B-$962.9M-$824.3M-$770.0M-$662.7M-$509.8M-$419.3M
Total equity $3.07B$3.31B$3.57B$3.77B$3.92B$1.23B$1.29B$1.41B$1.57B$1.64B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $429.7M$419.0M$394.6M$379.3M$100.4M$95.5M$138.0M$154.4M$154.6M$155.4M
Depreciation and amortisation $380.2M$398.0M$430.0M$473.0M$203.1M$128.6M$132.1M$152.2M$172.1M$0
Stock-based compensation $10.8M$10.7M$10.1M$10.3M$6.7M$6.0M$5.4M$4.9M$6.0M$5.2M
Capital expenditure $152.0M$140.5M$144.7M———$53.3M$59.3M$72.4M$94.6M
Investing cash flow $613.5M-$499.0M-$81.7M-$45.1M-$91.0M-$80.8M$416.6M$148.3M-$2.0M-$82.9M
Financing cash flow -$698.4M$172.1M-$393.5M-$312.5M$44.5M-$20.9M-$547.2M-$289.4M-$149.3M-$90.9M
Dividends paid $236.5M$221.8M$210.5M$179.6M$57.8M$38.1M$133.3M$106.3M$101.1M$94.7M
Buybacks $1.3M$907.0K$767.0K$1.5M$15.0M$1.3M$533.0K$350.0K$835.0K$1.1M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001286043-26-000009.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -250M 0 250M 500M 750M 1B Revenue, FY2016: 354.1M Net income, FY2016: 1.2M Revenue, FY2017: 358.8M Net income, FY2017: 11.9M Revenue, FY2018: 354.2M Net income, FY2018: -46.6M Revenue, FY2019: 315.2M Net income, FY2019: -534K Revenue, FY2020: 266.6M Net income, FY2020: -16.2M Revenue, FY2021: 373.3M Net income, FY2021: -80.8M Revenue, FY2022: 802M Net income, FY2022: -12.6M Revenue, FY2023: 821.3M Net income, FY2023: 47.5M Revenue, FY2024: 837.5M Net income, FY2024: 4.1M Revenue, FY2025: 844.4M Net income, FY2025: 298.7M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $354.1M $358.8M $354.2M $315.2M $266.6M $373.3M $802.0M $821.3M $837.5M $844.4M
Gross profit — — — — — — — — — —
Net income $1.2M $11.9M -$46.6M -$534.0K -$16.2M -$80.8M -$12.6M $47.5M $4.1M $298.7M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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DLR DIGITAL REALTY TRUST, INC. $60.57B 48.1x 10.0%
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