Q1 25 EPS
$0.11
BEAT +15.79%
Est. $0.10
Q1 25 Revenue
$221.8M
BEAT +5.07%
Est. $211.1M
vs S&P Since Q1 25
+6.2%
BEATING MARKET
KRG +40.5% vs S&P +34.3%
Market Reaction
Did KRG Beat Earnings? Q1 2025 Results
Kite Realty Group turned in a convincing first quarter, with earnings per share of $0.11 beating the $0.10 consensus by 15.79% and revenue of $221.76 million clearing estimates by 5.07% on 6.9% year-over-year growth, as the open-air retail landlord p… Read more Kite Realty Group turned in a convincing first quarter, with earnings per share of $0.11 beating the $0.10 consensus by 15.79% and revenue of $221.76 million clearing estimates by 5.07% on 6.9% year-over-year growth, as the open-air retail landlord paired solid operational execution with a headline-grabbing strategic move. The defining event of the quarter was the formation of a joint venture with Singapore's GIC to acquire Legacy West, a premier mixed-use asset in the Dallas MSA, for $785 million, with KRG's 52% share valued at $408 million; investors have shown notable appetite for high-quality retail deals of this scale despite a broadly uncertain economic backdrop. Operationally, blended comparable cash leasing spreads of 13.7% across 182 new and renewal leases spanning 844,000 square feet underscored healthy demand across the portfolio, while same-property NOI grew 3.1%. Management responded to the momentum by lifting full-year 2025 NAREIT FFO guidance to $2.04 to $2.10 per diluted share, up from $2.02 to $2.08, signaling confidence that the portfolio's $27.50 million in signed-not-open NOI will continue converting into recognized revenue.
Key Takeaways
- • Same Property NOI growth of 3.1% year-over-year
- • Total property NOI growth of 7.4% year-over-year
- • Blended comparable cash leasing spreads of 13.7% on 126 comparable leases
- • Operating retail portfolio ABR per square foot increased 3.1% year-over-year to $21.49
- • 182 new and renewal leases executed representing approximately 844,000 sq ft
- • Signed-not-open NOI of $27.5 million representing 260 basis points leased-to-occupied spread
KRG YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
“In addition to another strong quarter, the KRG team is proud to announce the acquisition of Legacy West through a recently formed strategic joint venture with GIC, a global institutional investor.”
— John A. Kite, Q1 2025 Earnings Press Release
KRG Earnings Trends
KRG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
KRG EPS Trend
Earnings per share: estimate vs actual
KRG Revenue Trend
Quarterly revenue: estimate vs actual
KRG Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.11 | $0.52 | +395.24% | $200.7M | +1.19% |
| Q4 25 BEAT FY | $0.10 | $0.84 | +740.00% | $204.9M | +0.22% |
| FY Full Year | $0.61 | $1.37 | +123.93% | $844.4M | +0.25% |
| Q3 25 MISS | $0.07 | $-0.07 | -204.95% | $205.1M | -1.88% |
| Q2 25 BEAT | $0.09 | $0.50 | +435.91% | $213.4M | +0.27% |
| Q1 25 BEAT | $0.10 | $0.11 | +15.79% | $221.8M | +5.07% |