Kite Realty Group (KRG) Q3 2026 Earnings
GAAP net loss includes $30.7 million ($30,694 thousand) of impairment charges, partially offset by $2.3 million gain on sales of operating properties and $2.3 million net gains from outlot sales; company also reports Core FFO of $0.52 and NAREIT FFO of $0.53 per diluted share
How Did KRG Stock React to Q3 2026 Earnings?
Did KRG Beat Earnings? Q3 2026 Results
No. Kite Realty Group reported Q3 2026 earnings of $-0.07 a share on Oct 30, 2026, missing the $0.08 consensus estimate by 187.5%. Revenue was $190.3M against a $195.6M estimate.
Kite Realty Group Trust delivered a disappointing third quarter of 2026, missing on both the top and bottom lines as asset dispositions and hefty impairment charges clouded otherwise solid leasing fundamentals. The open-air retail REIT posted GAAP EPS of negative $0.07, missing the $0.08 consensus estimate by 187.50%, with results weighed down by $30.69 million in impairment charges that drove a net loss of $13.30 million for the quarter. Revenue came in at $190.28 million, trailing the $195.58 million consensus by 2.71% and declining 7.2% year over year, largely because of the company's active disposition program, which has shed $385.50 million of assets across 11 transactions year-to-date. Beneath the GAAP headline, operating trends were more encouraging: same-property NOI grew 3.6%, the retail leased percentage climbed 140 basis points to 95.3%, and blended comparable cash leasing spreads reached 14.6%. Core FFO held steady at $0.52 per diluted share. Management responded to the mixed results by raising the low end of full-year Core FFO and NAREIT FFO guidance to $2.08 to $2.12 per diluted share, though several analysts had already trimmed their price targets ahead of the print.
- Same Property NOI up 3.6% year-over-year
- Executed 160 new and renewal leases covering about 1.2 million sq ft
- Blended comparable cash leasing spreads of 14.6%: 33.7% on new leases, 18.3% on non-option renewals, 7.6% on option renewals
- Trailing four-quarter comparable cash leasing spread of 14.2%, including 27.9% on new leases
- Retail leased percentage of 95.3%, up 140 bps year-over-year; anchor 96.9% (+190 bps); small shop 92.7% (+90 bps)
- Retail ABR per sq ft of $23.52, up 6.4% year-over-year
- Leased-to-occupied spread of 360 bps, representing about $38.8 million of signed-not-open NOI
- Total annualized portfolio cash NOI of $597.956 million per net asset value components
- Impairment charges of $30.7 million and asset dispositions weighed on GAAP results; total property NOI down 10.8%
“Third quarter results reflect exceptional tenant demand, the quality of our portfolio, and disciplined capital allocation.”
Kite Realty Group CEO, on the earnings call
What Is Kite Realty Group's Outlook?
KRG raised its 2026 NAREIT FFO and Core FFO guidance to $2.08–$2.12 per diluted share, from $2.06–$2.12. It expects 2026 net income of $0.88–$0.92 per diluted share. Key assumptions include: - Same Property NOI growth of 3.40%–3.90%, previously 3.00%–4.00%. - A bad debt reserve of 0.90% of total revenues at the midpoint. - Interest expense, net of interest income, of $116.4 million at the midpoint, previously $114.7 million. The active One Loudoun development projects are expected to stabilize between Q4 2026 and Q2 2030. They are projected to add $8.1M–$10.1M of remaining NOI.
KRG YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $190.3M | $205.1M | −7.2% |
| Net Income | −$13.3M | −$11.3M | +17.9% |
KRG Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.