Kite Realty Group Trust (KRG) on Wednesday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Indianapolis, said it had funds from operations of $107.7 million, or 48 cents per share, in the period
INDIANAPOLIS (AP) _ Kite Realty Group Trust (KRG) on Wednesday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Indianapolis, said it had funds from operations of $107.7 million, or 48 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 45 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $7.8 million, or 4 cents per share.
The real estate investment trust posted revenue of $200.3 million in the period.
Kite Realty Group expects full-year funds from operations in the range of $1.86 to $1.90 per share.
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