Form 8-K
8-K — KITE REALTY GROUP TRUST
Accession: 0001286043-26-000033
Filed: 2026-04-29
Period: 2026-04-29
CIK: 0001286043
SIC: 6798 (REAL ESTATE INVESTMENT TRUSTS)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — krg-20260429.htm (Primary)
EX-99.1 — EX-99.1 EARNINGS RELEASE (exhibit99_1xq12026.htm)
EX-99.2 — EX-99.2 Q1 2026 SUPPLEMENTAL (exhibit99_2xq12026.htm)
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8-K
8-K (Primary)
Filename: krg-20260429.htm · Sequence: 1
krg-20260429
0001286043false00012860432026-04-292026-04-290001286043krg:KiteRealtyGroupLPMember2026-04-292026-04-29
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 29, 2026
KITE REALTY GROUP TRUST
KITE REALTY GROUP, L.P.
(Exact name of registrant as specified in its charter)
Maryland 001-32268 11-3715772
Delaware 333-202666-01 20-1453863
(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification Number)
30 S. Meridian Street, Suite 1100, Indianapolis, IN 46204
(Address of principal executive offices) (Zip Code)
(317) 577-5600
(Registrant’s telephone number including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol Name of each exchange on which registered
Common Shares, $0.01 par value per share KRG New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On April 29, 2026, Kite Realty Group Trust (the “Company”) announced its consolidated financial results for the quarter ended March 31, 2026. A copy of the Company’s press release is furnished as Exhibit 99.1 to this current report on Form 8-K. A copy of the Company’s First Quarter 2026 Supplemental Disclosure is furnished as Exhibit 99.2 to this current report on Form 8-K. The information contained in Item 2.02 of this current report on Form 8-K, including Exhibits 99.1 and 99.2, shall not be deemed “filed” with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the Company under the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits
Exhibit No. Description
99.1
Kite Realty Group Trust Press Release dated April 29, 2026
99.2
Kite Realty Group Trust First Quarter 2026 Supplemental Disclosure
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
KITE REALTY GROUP TRUST
Date: April 29, 2026 By: /s/ HEATH R. FEAR
Heath R. Fear
President and Chief Financial Officer
KITE REALTY GROUP, L.P.
By: Kite Realty Group Trust, its sole general partner
Date: April 29, 2026 By: /s/ HEATH R. FEAR
Heath R. Fear
President and Chief Financial Officer
EX-99.1 — EX-99.1 EARNINGS RELEASE
EX-99.1
Filename: exhibit99_1xq12026.htm · Sequence: 2
Document
Exhibit 99.1
PRESS RELEASE
Contact Information: Kite Realty Group
Tyler Henshaw
SVP, Capital Markets & Investor Relations
317.713.7780
thenshaw@kiterealty.com
Kite Realty Group Reports First Quarter 2026 Operating Results
Indianapolis, Indiana, April 29, 2026 – Kite Realty Group (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored shopping centers and vibrant mixed-use assets, reported today its operating results for the first quarter ended March 31, 2026. For the quarters ended March 31, 2026 and 2025, net income attributable to common shareholders was $11.4 million, or $0.06 per diluted share, compared to $23.7 million, or $0.11 per diluted share, respectively.
Same Property Net Operating Income (NOI) increase of 3.6%
Signed-not-open pipeline remains elevated at approximately $36.0 million
In 2025 and 2026, repurchased a total of 16.9 million common shares
for $400 million at an average price of $23.67 per share
“KRG is executing across all fronts in 2026: strategically, operationally, and financially,” said John A. Kite, Chairman and Chief Executive Officer. “Strategically, we continue to sharpen the portfolio through disciplined capital recycling while also investing in our platform through recently announced key leadership additions. Operationally, Same Property NOI growth of 3.6%, double digit blended cash spreads, and a 90-basis point year-over-year increase in occupancy reflect exceptional tenant demand and the quality of our real estate. Financially, our balance sheet remains strong, our portfolio is built to perform through a range of macroeconomic conditions, and we have the capacity and conviction to keep playing offense.”
First Quarter 2026 Financial and Operational Results
▪Generated Core FFO of the Operating Partnership of $109.1 million, or $0.52 per diluted share.
▪Generated NAREIT FFO of the Operating Partnership of $109.4 million, or $0.52 per diluted share.
▪Same Property NOI increased by 3.6%.
▪Executed 151 new and renewal leases representing 707,000 square feet.
▪Blended cash leasing spreads of 13.5% on 113 comparable leases, including 31.3% on 26 comparable new leases, 12.3% on 47 comparable non-option renewals, and 7.0% on 40 comparable option renewals.
▪Blended cash leasing spreads of 19.0% for comparable new and non-option renewal leases.
▪Operating retail portfolio annualized base rent (ABR) per square foot of $22.89 at March 31, 2026, a 6.5% increase year-over-year.
▪Retail portfolio leased percentage of 94.7% at March 31, 2026, a 90-basis point increase year-over-year.
▪Anchor leased percentage of 96.2% at March 31, 2026, a 110-basis point increase year-over-year.
▪Small shop leased percentage of 91.9% at March 31, 2026, a 60-basis point increase year-over-year.
▪Portfolio leased-to-occupied spread at period end of 350 basis points, which represents approximately $36.0 million of signed-not-open NOI.
First Quarter 2026 Capital Allocation Activity
▪Sold Coram Plaza (New York MSA), a 138,385 square foot center, for $12.5 million, consistent with the Company’s strategy to exit non-core, larger-format, and/or lower-growth assets.
▪In February 2026, the Company’s Board of Trustees approved an upsizing of the Company’s share repurchase program, increasing the size of the program from $300.0 million to $600.0 million of the Company’s common shares.
▪During the quarter, repurchased approximately 6.0 million common shares, at an average price of $25.19 per share, for $152.3 million, inclusive of $52.3 million of previously announced activity.
▪In 2025 and 2026, repurchased a total of 16.9 million common shares, at an average price of $23.67 per share, for $400.0 million.
First Quarter 2026 Balance Sheet Overview
▪As of March 31, 2026, the Company’s net debt to Adjusted EBITDA was 5.2x.
Dividend
▪On April 27, 2026, the Company’s Board of Trustees declared a second quarter 2026 dividend of $0.29 per common share, which represents a 7.4% year-over-year increase. The second quarter dividend will be paid on or about July 16, 2026, to shareholders of record as of July 9, 2026.
2026 Earnings Guidance
The Company expects to generate net income attributable to common shareholders of $0.33 to $0.39 per diluted share in 2026. The Company is affirming its 2026 NAREIT FFO guidance range of $2.06 to $2.12 per diluted share and its Core FFO guidance range of $2.06 to $2.12 per diluted share, based, in part, on the following assumptions:
▪2026 Same Property NOI growth range of 2.50% to 3.50% (previously 2.25% to 3.25%).
▪Bad debt reserve of 0.95% of total revenues at the midpoint (previously 1.00% of total revenues).
▪Interest expense, net of interest income, excluding unconsolidated joint ventures, of $121.2 million at the midpoint (previously $121.0 million).
The following table reconciles the Company’s 2026 net income guidance range to the Company’s 2026 NAREIT and Core FFO guidance ranges:
Low High
Net income $ 0.33 $ 0.39
Impairment charges 0.03 0.03
Depreciation and amortization 1.70 1.70
NAREIT FFO $ 2.06 $ 2.12
Non-cash items 0.00 0.00
Core FFO $ 2.06 $ 2.12
Earnings Conference Call
Kite Realty Group will conduct a conference call to discuss its financial results on Wednesday, April 29, 2026, at 12:00 p.m. Eastern Time. A live webcast of the conference call will be available on KRG’s website at www.kiterealty.com or at the following link: KRG First Quarter 2026 Webcast. The dial-in registration link is: KRG First Quarter 2026 Teleconference Registration. In addition, a webcast replay link will be available on KRG’s website.
About Kite Realty Group
Kite Realty Group (NYSE: KRG) is a real estate investment trust (REIT) that owns and operates a high-quality portfolio of open-air shopping centers and mixed-use destinations. The Company’s portfolio is concentrated in high-growth Sun Belt and select strategic gateway markets. Publicly listed since 2004, KRG brings more than six decades of experience in developing, operating, and investing in real estate, using a disciplined, hands-on approach to enhance portfolio quality and maximize long-term value for all stakeholders. As of March 31, 2026, the Company owned interests in 169 U.S. open-air shopping centers
and mixed-use assets, comprising approximately 27.3 million square feet of gross leasable space. For more information, please visit kiterealty.com.
Connect with KRG: LinkedIn | X | Instagram | Facebook
Safe Harbor
This release, together with other statements and information publicly disseminated by us, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, performance, transactions or achievements, financial or otherwise, may differ materially from the results, performance, transactions or achievements, financial or otherwise, expressed or implied by the forward-looking statements.
Risks, uncertainties and other factors that might cause such differences, some of which could be material, include but are not limited to: economic, business, banking, real estate and other market conditions, particularly in connection with low or negative growth in the U.S. economy as well as economic uncertainty (including from an economic slowdown or recession, federal government shutdown, disruptions related to tariffs and other trade or sanction issues, geopolitical instability in the Middle East, rising interest rates, inflation, unemployment, or limited growth in consumer income or spending); financing risks, including the availability of, and costs associated with, sources of liquidity; the Company’s ability to refinance, or extend the maturity dates of, the Company’s indebtedness; the level and volatility of interest rates; the financial stability of the Company’s tenants; the competitive environment in which the Company operates, including potential oversupplies of, or a reduction in demand for, rental space; acquisition, disposition, development and joint venture risks, including the ability to complete them on the terms and timing anticipated; property ownership and management risks, including the relative illiquidity of real estate investments, and expenses, vacancies or the inability to rent space on favorable terms or at all; the Company’s ability to maintain the Company’s status as a real estate investment trust for U.S. federal income tax purposes; potential environmental and other liabilities; impairment in the value of real estate property the Company owns; the attractiveness of our properties to tenants; the actual and perceived impact of e-commerce on the value of shopping center assets, and changing demographics and customer traffic patterns; business continuity disruptions and a deterioration in our tenants’ ability to operate in affected areas or delays in the supply of products or services to us or our tenants from vendors that are needed to operate efficiently; risks related to our current geographical concentration of properties in the states of Texas, Florida, and North Carolina and the metropolitan statistical areas of New York, Atlanta, Seattle, Chicago, and Washington, D.C.; civil unrest, acts of violence, terrorism or war, acts of God, climate change, epidemics, pandemics, natural disasters and severe weather conditions, including such events that may result in underinsured or uninsured losses or other increased costs and expenses; changes in laws and government regulations, including governmental orders affecting the use of the Company’s properties or the ability of its tenants to operate, and the costs of complying with such changed laws and government regulations; possible changes in consumer behavior due to public health crises and the fear of future pandemics; our ability to satisfy environmental, social or governance standards set by various constituencies; insurance costs and coverage, especially in Florida and Texas coastal areas and North Carolina; risks associated with cyber attacks and the loss of confidential information and other business disruptions; risks associated with the use of artificial intelligence and related tools; other factors affecting the real estate industry generally; and other risks identified in reports the Company files with the Securities and Exchange Commission or in other documents that it publicly disseminates, including, in particular, the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in the Company’s quarterly reports on Form 10-Q. The Company undertakes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
This Earnings Release also includes certain forward-looking non-GAAP information. These non-GAAP financial measures should be considered along with, but not as alternatives to, net income (loss) as a measure of our operating performance. Please see the following pages for the corresponding definitions and reconciliations of such non-GAAP financial measures.
Kite Realty Group
Consolidated Balance Sheets
(dollars in thousands)
(unaudited)
March 31,
2026 December 31,
2025
Assets:
Investment properties, at cost $ 7,029,261 $ 7,003,479
Less: accumulated depreciation (1,717,404) (1,656,191)
Net investment properties 5,311,857 5,347,288
Cash and cash equivalents 32,539 36,761
Tenant and other receivables, including accrued straight-line rent
of $72,548 and $70,940, respectively
133,290 127,865
Restricted cash and escrow deposits 190,581 441,605
Deferred costs, net 172,805 181,553
Prepaid and other assets 98,560 93,913
Investments in unconsolidated joint ventures 356,555 364,407
Assets associated with investment properties held for sale 54,073 71,105
Total assets $ 6,350,260 $ 6,664,497
Liabilities and Equity:
Liabilities:
Mortgage and other indebtedness, net $ 2,992,389 $ 3,025,478
Accounts payable and accrued expenses 156,908 221,118
Deferred revenue and other liabilities 207,603 221,813
Liabilities associated with investment properties held for sale 3,754 4,314
Total liabilities 3,360,654 3,472,723
Commitments and contingencies
Limited Partners’ interests in the Operating Partnership 130,306 116,245
Equity:
Common shares, $0.01 par value, 490,000,000 shares authorized,
203,058,977 and 208,979,900 shares issued and outstanding at
March 31, 2026 and December 31, 2025, respectively
2,031 2,090
Additional paid-in capital 4,445,350 4,612,280
Accumulated other comprehensive income 21,352 23,079
Accumulated deficit (1,611,337) (1,563,840)
Total shareholders’ equity 2,857,396 3,073,609
Noncontrolling interests 1,904 1,920
Total equity 2,859,300 3,075,529
Total liabilities and equity $ 6,350,260 $ 6,664,497
Kite Realty Group
Consolidated Statements of Operations
(dollars in thousands, except per share amounts)
(unaudited)
Three Months Ended March 31,
2026 2025
Revenue:
Rental income $ 198,042 $ 219,172
Other property-related revenue 1,359 1,480
Fee income 1,296 425
Total revenue 200,697 221,077
Expenses:
Property operating 31,116 29,826
Real estate taxes 24,824 27,761
General, administrative and other 13,950 12,258
Depreciation and amortization 82,491 98,231
Impairment charges 5,888 —
Total expenses 158,269 168,076
Other (expense) income:
Interest expense (31,696) (32,954)
Income tax expense of taxable REIT subsidiaries (395) (10)
Gain on sales of operating properties, net — 91
Net gains from outlot sales 1,039 —
Equity in loss of unconsolidated joint ventures (2,216) (607)
Other income, net 2,572 4,743
Net income 11,732 24,264
Net income attributable to noncontrolling interests (338) (534)
Net income attributable to common shareholders $ 11,394 $ 23,730
Net income per common share – basic and diluted $ 0.06 $ 0.11
Weighted average common shares outstanding – basic 205,686,342 219,715,674
Weighted average common shares outstanding – diluted 206,063,468 219,827,298
Kite Realty Group
NAREIT Funds From Operations (“FFO”)(1)
(dollars in thousands, except per share amounts)
(unaudited)
Three Months Ended March 31,
2026 2025
Net income $ 11,732 $ 24,264
Less: net income attributable to noncontrolling interests in properties (70) (70)
Less: gain on sales of operating properties, net — (91)
Add: impairment charges 5,888 —
Add: depreciation and amortization of consolidated and unconsolidated entities,
net of noncontrolling interests
91,824 98,677
NAREIT FFO of the Operating Partnership(1)
109,374 122,780
Less: Limited Partners’ interests in FFO (2,623) (2,463)
FFO attributable to common shareholders(1)
$ 106,751 $ 120,317
FFO, as defined by NAREIT, per share of the Operating Partnership – basic $ 0.52 $ 0.55
FFO, as defined by NAREIT, per share of the Operating Partnership – diluted $ 0.52 $ 0.55
Weighted average common shares outstanding – basic 205,686,342 219,715,674
Weighted average common shares outstanding – diluted 205,775,355 219,827,298
Weighted average common shares and units outstanding – basic 210,742,420 224,214,867
Weighted average common shares and units outstanding – diluted 210,831,433 224,326,491
Reconciliation of NAREIT FFO to Core FFO(2)
NAREIT FFO of the Operating Partnership(1)
$ 109,374 $ 122,780
Add:
Amortization of deferred financing costs 1,807 1,644
Non-cash compensation expense and other 3,215 2,660
Less:
Straight-line rent – minimum rent and common area maintenance 2,141 2,578
Market rent amortization income 2,089 3,542
Amortization of debt discounts, premiums and hedge instruments 1,029 2,756
Core FFO of the Operating Partnership $ 109,137 $ 118,208
Core FFO per share of the Operating Partnership – diluted $ 0.52 $ 0.53
(1)“NAREIT FFO of the Operating Partnership” measures 100% of the operating performance of the Operating Partnership’s real estate properties. “FFO attributable to common shareholders” reflects a reduction for the redeemable noncontrolling weighted average diluted interest in the Operating Partnership.
(2)Includes the Company’s pro rata share from unconsolidated joint ventures.
NAREIT Funds From Operations (“FFO”) is a widely used performance measure for real estate companies and is provided here as a supplemental measure of our operating performance. The Company calculates FFO, a non-GAAP financial measure, in accordance with the best practices described in the April 2002 National Policy Bulletin of the National Association of Real Estate Investment Trusts (“NAREIT”), as restated in 2018. The NAREIT white paper defines FFO as net income (calculated in accordance with GAAP), excluding (i) depreciation and amortization related to real estate, (ii) gains and losses from the sale of certain real estate assets, (iii) gains and losses from change in control, and (iv) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity.
Considering the nature of our business as a real estate owner and operator, the Company believes that FFO is helpful to investors in measuring our operational performance because it excludes various items included in net income that do not relate to or are not indicative of our operating performance, such as gains or losses from sales of depreciated property and depreciation and amortization, which can make periodic and peer analyses of operating performance more difficult. FFO (a) should not be considered as an alternative to net income (calculated in accordance with GAAP) for the purpose of measuring our financial performance, (b) is not an alternative to cash flows from operating activities (calculated in accordance with GAAP) as a measure of our liquidity, and (c) is not indicative of funds available to satisfy our cash needs, including our ability to make distributions. The Company’s computation of FFO may not be comparable to FFO reported by other REITs that do not define the term in accordance with the current NAREIT definition or that interpret the current NAREIT definition differently than we do.
From time to time, the Company may report or provide guidance with respect to “FFO, as adjusted,” which removes the impact of certain non-recurring and non-operating transactions or other items the Company does not consider to be representative of its core operating results including, without limitation, (i) gains or losses associated with the early extinguishment of debt, (ii) gains or losses associated with litigation involving the Company that is not in the normal course of business, (iii) merger and acquisition costs, (iv) the impact on earnings from significant and non-recurring
employee severance costs and recruiting expenses, including sign-on bonuses and search fees, (v) the excess of redemption value over carrying value of preferred stock redemption, and (vi) the impact of prior period bad debt or the collection of accounts receivable previously written off (“prior period collection impact”), which are not otherwise adjusted in the Company’s calculation of FFO.
Core Funds From Operations (“Core FFO”) is a non-GAAP financial measure of operating performance that modifies FFO for certain non-cash transactions that result in recording income or expense and impact the Company’s period-over-period performance, including (i) amortization of deferred financing costs, (ii) non-cash compensation expense and other, (iii) straight-line rent related to minimum rent and common area maintenance, (iv) market rent amortization income, and (v) amortization of debt discounts, premiums and hedge instruments, and include adjustments related to our pro rata share from unconsolidated joint ventures for these categories as applicable. The Company believes that Core FFO is useful to investors in evaluating the core cash flow-generating operations of the Company by adjusting for items that we do not consider to be part of our core business operations, allowing for comparison of core operating performance of the Company between periods. Core FFO should not be considered as an alternative to net income as an indicator of the Company’s performance or as an alternative to cash flow as a measure of liquidity or the Company’s ability to make distributions. The Company’s computation of Core FFO may differ from the methodology for calculating Core FFO used by other REITs, and therefore, may not be comparable to such other REITs.
Kite Realty Group
Same Property Net Operating Income (“NOI”)
(dollars in thousands)
(unaudited)
Three Months Ended March 31,
2026 2025 Change
Number of properties in Same Property Pool for the period(1)
164 164
Leased percentage at period end 94.6 % 94.3 %
Economic occupancy percentage at period end 91.1 % 91.8 %
Economic occupancy percentage(2)
91.1 % 92.2 %
Minimum rent $ 144,188 $ 140,903
Tenant recoveries 44,054 40,641
Bad debt reserve (1,499) (1,887)
Other income, net 2,458 2,140
Total revenue 189,201 181,797
Property operating (28,105) (25,899)
Real estate taxes (24,098) (23,606)
Total expenses (52,203) (49,505)
Same Property NOI(3)
$ 136,998 $ 132,292 3.6 %
Reconciliation of Same Property NOI to most
directly comparable GAAP measure:
Net operating income – same properties $ 136,998 $ 132,292
Net operating income – sold properties (215) 20,470
Net operating income – non-same activity(4)
9,306 10,607
Less: KRG share of unconsolidated joint ventures included in Same Property NOI above (2,628) (304)
Net gains from outlot sales 1,039 —
Total property NOI 144,500 163,065 (11.4 %)
Other income, net 1,257 4,551
General, administrative and other (13,950) (12,258)
Impairment charges (5,888) —
Depreciation and amortization (82,491) (98,231)
Interest expense (31,696) (32,954)
Gain on sales of operating properties, net — 91
Net income attributable to noncontrolling interests (338) (534)
Net income attributable to common shareholders $ 11,394 $ 23,730
(1)Same Property NOI excludes the following: (i) Village Commons and Legacy West, which were acquired in 2025; (ii) The Corner – IN, which was reclassified from active development into our operating portfolio in March 2025; (iii) Eastgate Crossing, which was reclassified from our operating portfolio in September 2025 due to significant disruption caused by severe flooding as a result of Tropical Storm Chantal; (iv) our active development project at One Loudoun Expansion; (v) Hamilton Crossing Centre and Edwards Multiplex – Ontario, which were reclassified from our operating portfolio into redevelopment in June 2014 and March 2023, respectively; (vi) properties sold or classified as held for sale during 2025 and 2026; and (vii) standalone office properties, including the Carillon medical office building.
(2)Excludes leases that are signed but for which tenants have not yet commenced the payment of cash rent. Calculated as a weighted average based on the timing of cash rent commencement and expiration during the period.
(3)Same Property NOI for all periods presented includes 52% of the NOI from three previously wholly owned properties that were contributed to the Seed Asset Joint Venture in June 2025 and excludes the results of the Company’s insurance captive.
(4)Includes non-cash activity as well as NOI from properties not included in the Same Property Pool.
The Company uses NOI, a non-GAAP financial measure, to evaluate the performance of our properties. The Company also uses total property NOI, which is defined as NOI plus net gains from outlot sales. The Company defines NOI as income from our real estate, including lease termination fees received from tenants, less our property operating expenses. NOI excludes amortization of capitalized tenant improvement costs and leasing commissions and certain corporate-level expenses, including merger and acquisition costs. The Company believes that NOI is helpful to investors as a measure of our operating performance because it excludes various items included in net income that do not relate to or are not indicative of our operating performance, such as depreciation and amortization, interest expense, and impairment, if any.
The Company also uses same property NOI (“Same Property NOI”), a non-GAAP financial measure, to evaluate the performance of our properties. Same Property NOI is net income excluding properties that have not been owned for the full periods presented. Beginning in 2026, the Company revised its Same Property NOI definition to exclude the results of the Company’s insurance captive to more clearly reflect the performance of our core real estate portfolio. Same Property NOI also excludes (i) net gains from outlot sales, (ii) straight-line rent revenue, (iii) lease termination income in excess of lost rent, (iv) amortization of lease intangibles, (v) significant prior period expense recoveries and adjustments, if any, and (vi) income or expense associated with the Company’s captive insurance company. When the Company receives payments in excess of any accounts receivable for terminating a lease, Same Property NOI will include such excess payments as monthly rent until the earlier of the expiration of 12 months or the start date of a replacement tenant.
The Company believes that Same Property NOI is helpful to investors as a measure of our operating performance because it includes only the NOI of properties that have been owned for the full periods presented. The Company believes such presentation eliminates disparities in net income due to the acquisition or disposition of properties during the particular periods presented and thus provides a more consistent metric for the comparison of our properties. Additionally, because results from the Company’s insurance captive are driven by insurance underwriting, loss experience, and actuarial assumptions and therefore do not reflect the operating performance of our real estate properties, management believes excluding the impacts of the insurance captive improves transparency and comparability for the Company’s investors. Same Property NOI includes the results of properties that have been owned for the entire current and prior year reporting periods. Same Property NOI for all periods presented includes 52% of the NOI from three previously wholly owned properties that were contributed to the Seed Asset Joint Venture in June 2025 and excludes the results of the Company’s insurance captive.
NOI and Same Property NOI should not, however, be considered as an alternative to net income (calculated in accordance with GAAP) as an indicator of our financial performance. The Company’s computation of NOI and Same Property NOI may differ from the methodology used by other REITs and, therefore, may not be comparable to such other REITs.
When evaluating the properties that are included in the Same Property Pool, we have established specific criteria for determining the inclusion of properties acquired or those recently under development. An acquired property is included in the Same Property Pool when there is a full quarter of operations in both years subsequent to the acquisition date. Development and redevelopment properties are included in the Same Property Pool four full quarters after the properties have been transferred to the operating portfolio. A redevelopment property is first excluded from the Same Property Pool when the execution of a redevelopment plan is likely, and we (a) begin recapturing space from tenants or (b) the contemplated plan significantly impacts the operations of the property. For the three months ended March 31, 2026, the Same Property Pool excludes the following: (i) Village Commons and Legacy West, which were acquired in 2025; (ii) The Corner – IN, which was reclassified from active development into our operating portfolio in March 2025; (iii) Eastgate Crossing, which was reclassified from our operating portfolio in September 2025 due to significant disruption caused by severe flooding as a result of Tropical Storm Chantal; (iv) our active development project at One Loudoun Expansion; (v) Hamilton Crossing Centre and Edwards Multiplex – Ontario, which were reclassified from our operating portfolio into redevelopment in June 2014 and March 2023, respectively; (vi) properties sold or classified as held for sale during 2025 and 2026; and (vii) standalone office properties, including the Carillon medical office building.
Kite Realty Group
Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”)
(dollars in thousands)
(unaudited)
Three Months Ended
March 31, 2026
Net income $ 11,732
Depreciation and amortization 82,491
Interest expense 31,696
Income tax expense of taxable REIT subsidiaries 395
EBITDA 126,314
Unconsolidated EBITDA, as adjusted 9,978
Impairment charges 5,888
Other income and expense, net (356)
Noncontrolling interests (197)
Adjusted EBITDA $ 141,627
Annualized Adjusted EBITDA(1)
$ 566,508
Company share of Net Debt:
Mortgage and other indebtedness, net $ 2,992,389
Add: Company share of unconsolidated joint venture debt 203,315
Add: debt discounts, premiums and issuance costs, net 2,216
Less: Partner share of consolidated joint venture debt(2)
(9,741)
Company’s consolidated debt and share of unconsolidated debt 3,188,179
Less: cash and cash equivalents (32,539)
Less: restricted cash and escrow deposits (190,581)
Less: Company share of unconsolidated joint venture cash and cash equivalents (13,816)
Company share of Net Debt $ 2,951,243
Net Debt to Adjusted EBITDA 5.2x
(1)Represents Adjusted EBITDA for the three months ended March 31, 2026 (as shown in the table above) multiplied by four.
(2)Partner share of consolidated joint venture debt is calculated based upon the partner’s pro rata ownership of the joint venture, multiplied by the related secured debt balance.
The Company defines EBITDA, a non-GAAP financial measure, as net income before interest expense, income tax expense of the taxable REIT subsidiaries, and depreciation and amortization. For informational purposes, the Company also provides Adjusted EBITDA, which it defines as EBITDA less (i) EBITDA from unconsolidated entities, as adjusted, (ii) gains on sales of operating properties or impairment charges, (iii) merger and acquisition costs, (iv) other income and expense, (v) noncontrolling interest Adjusted EBITDA, and (vi) other non-recurring activity or items impacting comparability from period to period. Annualized Adjusted EBITDA is Adjusted EBITDA for the most recent quarter multiplied by four. Net Debt to Adjusted EBITDA is the Company’s share of net debt divided by Annualized Adjusted EBITDA. EBITDA, Adjusted EBITDA, Annualized Adjusted EBITDA and Net Debt to Adjusted EBITDA, as calculated by the Company, are not comparable to EBITDA and EBITDA-related measures reported by other REITs that do not define EBITDA and EBITDA-related measures exactly as we do. EBITDA, Adjusted EBITDA and Annualized Adjusted EBITDA do not represent cash generated from operating activities in accordance with GAAP and should not be considered alternatives to net income as an indicator of performance or as alternatives to cash flows from operating activities as an indicator of liquidity.
Considering the nature of our business as a real estate owner and operator, the Company believes that EBITDA, Adjusted EBITDA and the ratio of Net Debt to Adjusted EBITDA are helpful to investors in measuring our operational performance because they exclude various items included in net income that do not relate to or are not indicative of our operating performance, such as gains or losses from sales of depreciated property and depreciation and amortization, which can make periodic and peer analyses of operating performance more difficult. For informational purposes, the Company also provides Annualized Adjusted EBITDA, adjusted as described above. The Company believes this supplemental information provides a meaningful measure of its operating performance. The Company believes presenting EBITDA and the related measures in this manner allows investors and other interested parties to form a more meaningful assessment of the Company’s operating results.
EX-99.2 — EX-99.2 Q1 2026 SUPPLEMENTAL
EX-99.2
Filename: exhibit99_2xq12026.htm · Sequence: 3
Document
Exhibit 99.2
Kite Realty Group
Quarterly Financial Supplement as of March 31, 2026
T A B L E O F C O N T E N T S
Earnings Press Release
i–iii
Contact Information
1
Results Overview
2
Consolidated Balance Sheets
3
Consolidated Statements of Operations
4
Same Property Net Operating Income
5
Net Operating Income and Adjusted EBITDA by Quarter
6
NAREIT Funds From Operations
7
Joint Venture Summary
8
Key Debt Metrics
9
Summary of Outstanding Debt
10
Maturity Schedule of Outstanding Debt
11
Acquisitions and Dispositions
12
Development and Redevelopment Projects
13
Geographic Diversification – ABR by Region and State
14
Top 25 Tenants by ABR
15
Retail Leasing Spreads
16
Lease Expirations
17
Components of Net Asset Value
18
Non-GAAP Financial Measures
19–20
Kite Realty Group Trust | 30 South Meridian Street, Suite 1100 | Indianapolis, Indiana 46204 | 888.577.5600 | www.kiterealty.com
PRESS RELEASE
Contact Information: Kite Realty Group
Tyler Henshaw
SVP, Capital Markets & Investor Relations
317.713.7780
thenshaw@kiterealty.com
Kite Realty Group Reports First Quarter 2026 Operating Results
Indianapolis, Indiana, April 29, 2026 – Kite Realty Group (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored shopping centers and vibrant mixed-use assets, reported today its operating results for the first quarter ended March 31, 2026. For the quarters ended March 31, 2026 and 2025, net income attributable to common shareholders was $11.4 million, or $0.06 per diluted share, compared to $23.7 million, or $0.11 per diluted share, respectively.
Same Property Net Operating Income (NOI) increase of 3.6%
Signed-not-open pipeline remains elevated at approximately $36.0 million
In 2025 and 2026, repurchased a total of 16.9 million common shares
for $400 million at an average price of $23.67 per share
“KRG is executing across all fronts in 2026: strategically, operationally, and financially,” said John A. Kite, Chairman and Chief Executive Officer. “Strategically, we continue to sharpen the portfolio through disciplined capital recycling while also investing in our platform through recently announced key leadership additions. Operationally, Same Property NOI growth of 3.6%, double digit blended cash spreads, and a 90-basis point year-over-year increase in occupancy reflect exceptional tenant demand and the quality of our real estate. Financially, our balance sheet remains strong, our portfolio is built to perform through a range of macroeconomic conditions, and we have the capacity and conviction to keep playing offense.”
First Quarter 2026 Financial and Operational Results
▪Generated Core FFO of the Operating Partnership of $109.1 million, or $0.52 per diluted share.
▪Generated NAREIT FFO of the Operating Partnership of $109.4 million, or $0.52 per diluted share.
▪Same Property NOI increased by 3.6%.
▪Executed 151 new and renewal leases representing 707,000 square feet.
▪Blended cash leasing spreads of 13.5% on 113 comparable leases, including 31.3% on 26 comparable new leases, 12.3% on 47 comparable non-option renewals, and 7.0% on 40 comparable option renewals.
▪Blended cash leasing spreads of 19.0% for comparable new and non-option renewal leases.
▪Operating retail portfolio annualized base rent (ABR) per square foot of $22.89 at March 31, 2026, a 6.5% increase year-over-year.
▪Retail portfolio leased percentage of 94.7% at March 31, 2026, a 90-basis point increase year-over-year.
▪Anchor leased percentage of 96.2% at March 31, 2026, a 110-basis point increase year-over-year.
▪Small shop leased percentage of 91.9% at March 31, 2026, a 60-basis point increase year-over-year.
▪Portfolio leased-to-occupied spread at period end of 350 basis points, which represents approximately $36.0 million of signed-not-open NOI.
i
First Quarter 2026 Capital Allocation Activity
▪Sold Coram Plaza (New York MSA), a 138,385 square foot center, for $12.5 million, consistent with the Company’s strategy to exit non-core, larger-format, and/or lower-growth assets.
▪In February 2026, the Company’s Board of Trustees approved an upsizing of the Company’s share repurchase program, increasing the size of the program from $300.0 million to $600.0 million of the Company’s common shares.
▪During the quarter, repurchased approximately 6.0 million common shares, at an average price of $25.19 per share, for $152.3 million, inclusive of $52.3 million of previously announced activity.
▪In 2025 and 2026, repurchased a total of 16.9 million common shares, at an average price of $23.67 per share, for $400.0 million.
First Quarter 2026 Balance Sheet Overview
▪As of March 31, 2026, the Company’s net debt to Adjusted EBITDA was 5.2x.
Dividend
▪On April 27, 2026, the Company’s Board of Trustees declared a second quarter 2026 dividend of $0.29 per common share, which represents a 7.4% year-over-year increase. The second quarter dividend will be paid on or about July 16, 2026, to shareholders of record as of July 9, 2026.
2026 Earnings Guidance
The Company expects to generate net income attributable to common shareholders of $0.33 to $0.39 per diluted share in 2026. The Company is affirming its 2026 NAREIT FFO guidance range of $2.06 to $2.12 per diluted share and its Core FFO guidance range of $2.06 to $2.12 per diluted share, based, in part, on the following assumptions:
▪2026 Same Property NOI growth range of 2.50% to 3.50% (previously 2.25% to 3.25%).
▪Bad debt reserve of 0.95% of total revenues at the midpoint (previously 1.00% of total revenues).
▪Interest expense, net of interest income, excluding unconsolidated joint ventures, of $121.2 million at the midpoint (previously $121.0 million).
The following table reconciles the Company’s 2026 net income guidance range to the Company’s 2026 NAREIT and Core FFO guidance ranges:
Low High
Net income $ 0.33 $ 0.39
Impairment charges 0.03 0.03
Depreciation and amortization 1.70 1.70
NAREIT FFO $ 2.06 $ 2.12
Non-cash items 0.00 0.00
Core FFO $ 2.06 $ 2.12
Earnings Conference Call
Kite Realty Group will conduct a conference call to discuss its financial results on Wednesday, April 29, 2026, at 12:00 p.m. Eastern Time. A live webcast of the conference call will be available on KRG’s website at www.kiterealty.com or at the following link: KRG First Quarter 2026 Webcast. The dial-in registration link is: KRG First Quarter 2026 Teleconference Registration. In addition, a webcast replay link will be available on KRG’s website.
About Kite Realty Group
Kite Realty Group (NYSE: KRG) is a real estate investment trust (REIT) that owns and operates a high-quality portfolio of open-air shopping centers and mixed-use destinations. The Company’s portfolio is concentrated in high-growth Sun Belt and select strategic gateway markets. Publicly listed since 2004, KRG brings more than six decades of experience in developing, operating, and investing in real estate, using a disciplined, hands-on approach to enhance portfolio quality and maximize long-term value for all stakeholders. As of March 31, 2026, the Company owned interests in 169 U.S. open-air shopping centers
ii
and mixed-use assets, comprising approximately 27.3 million square feet of gross leasable space. For more information, please visit kiterealty.com.
Connect with KRG: LinkedIn | X | Instagram | Facebook
Safe Harbor
This release, together with other statements and information publicly disseminated by us, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, performance, transactions or achievements, financial or otherwise, may differ materially from the results, performance, transactions or achievements, financial or otherwise, expressed or implied by the forward-looking statements.
Risks, uncertainties and other factors that might cause such differences, some of which could be material, include but are not limited to: economic, business, banking, real estate and other market conditions, particularly in connection with low or negative growth in the U.S. economy as well as economic uncertainty (including from an economic slowdown or recession, federal government shutdown, disruptions related to tariffs and other trade or sanction issues, geopolitical instability in the Middle East, rising interest rates, inflation, unemployment, or limited growth in consumer income or spending); financing risks, including the availability of, and costs associated with, sources of liquidity; the Company’s ability to refinance, or extend the maturity dates of, the Company’s indebtedness; the level and volatility of interest rates; the financial stability of the Company’s tenants; the competitive environment in which the Company operates, including potential oversupplies of, or a reduction in demand for, rental space; acquisition, disposition, development and joint venture risks, including the ability to complete them on the terms and timing anticipated; property ownership and management risks, including the relative illiquidity of real estate investments, and expenses, vacancies or the inability to rent space on favorable terms or at all; the Company’s ability to maintain the Company’s status as a real estate investment trust for U.S. federal income tax purposes; potential environmental and other liabilities; impairment in the value of real estate property the Company owns; the attractiveness of our properties to tenants; the actual and perceived impact of e-commerce on the value of shopping center assets, and changing demographics and customer traffic patterns; business continuity disruptions and a deterioration in our tenants’ ability to operate in affected areas or delays in the supply of products or services to us or our tenants from vendors that are needed to operate efficiently; risks related to our current geographical concentration of properties in the states of Texas, Florida, and North Carolina and the metropolitan statistical areas of New York, Atlanta, Seattle, Chicago, and Washington, D.C.; civil unrest, acts of violence, terrorism or war, acts of God, climate change, epidemics, pandemics, natural disasters and severe weather conditions, including such events that may result in underinsured or uninsured losses or other increased costs and expenses; changes in laws and government regulations, including governmental orders affecting the use of the Company’s properties or the ability of its tenants to operate, and the costs of complying with such changed laws and government regulations; possible changes in consumer behavior due to public health crises and the fear of future pandemics; our ability to satisfy environmental, social or governance standards set by various constituencies; insurance costs and coverage, especially in Florida and Texas coastal areas and North Carolina; risks associated with cyber attacks and the loss of confidential information and other business disruptions; risks associated with the use of artificial intelligence and related tools; other factors affecting the real estate industry generally; and other risks identified in reports the Company files with the Securities and Exchange Commission or in other documents that it publicly disseminates, including, in particular, the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in the Company’s quarterly reports on Form 10-Q. The Company undertakes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
This Earnings Release also includes certain forward-looking non-GAAP information. These non-GAAP financial measures should be considered along with, but not as alternatives to, net income (loss) as a measure of our operating performance. Please see the following pages for the corresponding definitions and reconciliations of such non-GAAP financial measures.
iii
Kite Realty Group
Contact Information
Corporate Office
30 South Meridian Street, Suite 1100
Indianapolis, IN 46204
(888) 577-5600
(317) 577-5600
www.kiterealty.com
Investor Relations Contact Analyst Coverage Analyst Coverage
Tyler Henshaw Robert W. Baird & Co. J.P. Morgan
Senior Vice President, Capital Markets and IR Mr. Wes Golladay Mr. Michael W. Mueller/Mr. Hongliang Zhang
(317) 713-7780 (216) 737-7510 (212) 622-6689/(212) 622-6416
thenshaw@kiterealty.com wgolladay@rwbaird.com michael.w.mueller@jpmorgan.com/
hongliang.zhang@jpmorgan.com
Transfer Agent Bank of America/Merrill Lynch
Broadridge Financial Solutions Mr. Jeffrey Spector/Mr. Samir Khanal KeyBanc Capital Markets
Ms. Kristen Tartaglione (646) 855-1363/(646) 855-1497 Mr. Todd Thomas
2 Journal Square, 7th Floor jeff.spector@bofa.com/ (917) 368-2286
Jersey City, NJ 07306 samar.khanal@bofa.com tthomas@keybanccm.com
(201) 714-8094
BTIG Ladenburg Thalmann
Stock Specialist Mr. Michael Gorman Mr. Floris van Dijkum
GTS (212) 738-6138 (212) 409-2075
545 Madison Avenue, 15th Floor mgorman@btig.com fvandijkum@ladenburg.com
New York, NY 10022
(212) 715-2830 Citigroup Global Markets Piper Sandler
Mr. Craig Mailman Mr. Alexander Goldfarb
(212) 816-4471 (212) 466-7937
craig.mailman@citi.com alexander.goldfarb@psc.com
Compass Point Research & Trading, LLC Raymond James
Mr. Ken Billingsley Mr. RJ Milligan
(202) 534-1393 (727) 567-2585
kbillingsley@compasspointllc.com rjmilligan@raymondjames.com
Green Street UBS
Ms. Paulina Rojas Schmidt Mr. Michael Goldsmith
(949) 640-8780 (212) 713-2951
projasschmidt@greenstreet.com michael.goldsmith@ubs.com
Jefferies LLC Wells Fargo
Ms. Linda Tsai Mr. James Feldman/Mr. Cooper Clark
(212) 778-8011 (212) 215-5328/(212) 214-1146
ltsai@jefferies.com james.feldman@wellsfargo.com/
cooper.clark@wellsfargo.com
1st Quarter 2026 Supplemental Financial and Operating Statistics
1
Kite Realty Group
Results Overview(1)
(dollars in thousands, except per share and per square foot amounts)
Three Months Ended March 31,
Summary Financial Results 2026 2025
Total revenue (page 4) $ 200,697 $ 221,077
Net income attributable to common shareholders (page 4) $ 11,394 $ 23,730
Net income per diluted share (page 4) $ 0.06 $ 0.11
Net operating income (NOI) (page 6) $ 143,461 $ 163,065
Adjusted EBITDA (page 6) $ 131,846 $ 151,232
NAREIT Funds From Operations (FFO) (page 7) $ 109,374 $ 122,780
NAREIT FFO per diluted share (page 7) $ 0.52 $ 0.55
Core FFO (page 7) $ 109,137 $ 118,208
Core FFO per diluted share (page 7) $ 0.52 $ 0.53
Dividend payout ratio (as % of NAREIT FFO) 56 % 49 %
Three Months Ended
Summary Operating and Financial Ratios March 31,
2026 December 31,
2025 September 30,
2025 June 30,
2025 March 31,
2025
NOI margin (page 6) 72.1 % 74.0 % 73.6 % 74.0 % 74.1 %
NOI margin – retail (page 6) 73.1 % 74.6 % 74.3 % 74.4 % 74.7 %
Same Property NOI performance (page 5)(2)
3.6 % 1.7 % 2.1 % 3.3 % 3.1 %
Total property NOI performance (page 5) (11.4 %) (5.9 %) 1.2 % 2.0 % 7.4 %
Net debt to Adjusted EBITDA, current quarter (page 9) 5.2x 4.9x 5.0x 5.1x 4.7x
Recovery ratio of retail operating properties (page 6) 91.9 % 90.2 % 91.8 % 92.0 % 91.4 %
Recovery ratio of consolidated portfolio (page 6) 87.2 % 85.9 % 88.2 % 87.8 % 86.5 %
Outstanding Classes of Stock
Common shares and units outstanding (page 18) 208,366,738 213,829,488 221,579,773 224,707,781 224,661,888
Summary Portfolio Statistics
Number of properties
Operating retail/mixed-use(3)
167 167 178 179 180
Standalone office(4)
2 2 2 2 2
Development and redevelopment projects (page 13) 1 1 1 1 1
Owned retail operating gross leasable area (GLA)(5)
25.3 M 25.3 M 27.7 M 27.8 M 27.8 M
Owned office GLA 2.0 M 2.0 M 2.0 M 2.0 M 1.5 M
Number of multifamily units(6)
2,187 2,187 2,187 2,187 1,405
Percent leased – total 94.0 % 94.4 % 93.2 % 92.7 % 93.0 %
Percent leased – retail 94.7 % 95.1 % 93.9 % 93.3 % 93.8 %
Anchor (≥ 10,000 sq. ft.) 96.2 % 96.7 % 95.0 % 94.2 % 95.1 %
Small shop (< 10,000 sq. ft.) 91.9 % 92.3 % 91.8 % 91.6 % 91.3 %
Retail annualized base rent (ABR) per square foot $ 22.89 $ 22.63 $ 22.11 $ 22.02 $ 21.49
Total new and renewal lease GLA (page 16) 707,000 1,278,242 1,229,944 1,214,631 843,829
New lease cash rent spread (page 16) 31.3 % 21.8 % 26.1 % 31.3 % 15.6 %
Non-option renewal lease cash rent spread (page 16) 12.3 % 14.5 % 12.9 % 19.7 % 20.1 %
Option renewal lease cash rent spread (page 16) 7.0 % 6.2 % 7.8 % 8.2 % 7.0 %
Total new and renewal lease cash rent spread (page 16) 13.5 % 12.8 % 12.2 % 17.0 % 13.7 %
2026 Guidance Current
(as of 4/29/26) Previous
(as of 2/17/26)
NAREIT FFO per diluted share $2.06 to $2.12 $2.06 to $2.12
Core FFO per diluted share $2.06 to $2.12 $2.06 to $2.12
(1)Historical non-GAAP measures were calculated in accordance with the definitions in effect at such time and has not been recast for subsequent changes.
(2)Beginning with the three months ended March 31, 2026, the Company revised the definition of Same Property NOI. Please refer to page 20 for the Company’s revised definition of Same Property NOI. Same Property NOI growth for prior periods was calculated in accordance with the definition in effect at such time and have not been recast.
(3)Operating retail/mixed-use properties consist of retail and office components at consolidated and unconsolidated properties and exclude one property classified as held for sale as of March 31, 2026, as well as Eastgate Crossing, which was reclassified from our operating portfolio in September 2025 due to significant disruption caused by severe flooding as a result of Tropical Storm Chantal.
(4)Standalone office properties include the Company’s headquarters at 30 South Meridian and the Carillon medical office building.
(5)Owned GLA represents gross leasable area owned by the Company and excludes the square footage of non-retail property components and development and redevelopment projects.
(6)Represents the number of multifamily units that the Company has an economic interest in.
1st Quarter 2026 Supplemental Financial and Operating Statistics
2
Kite Realty Group
Consolidated Balance Sheets
(dollars in thousands)
(unaudited)
March 31,
2026 December 31,
2025
Assets:
Investment properties, at cost $ 7,029,261 $ 7,003,479
Less: accumulated depreciation (1,717,404) (1,656,191)
Net investment properties 5,311,857 5,347,288
Cash and cash equivalents 32,539 36,761
Tenant and other receivables, including accrued straight-line rent
of $72,548 and $70,940, respectively
133,290 127,865
Restricted cash and escrow deposits 190,581 441,605
Deferred costs, net 172,805 181,553
Prepaid and other assets 98,560 93,913
Investments in unconsolidated joint ventures 356,555 364,407
Assets associated with investment properties held for sale 54,073 71,105
Total assets $ 6,350,260 $ 6,664,497
Liabilities and Equity:
Liabilities:
Mortgage and other indebtedness, net $ 2,992,389 $ 3,025,478
Accounts payable and accrued expenses 156,908 221,118
Deferred revenue and other liabilities 207,603 221,813
Liabilities associated with investment properties held for sale 3,754 4,314
Total liabilities 3,360,654 3,472,723
Commitments and contingencies
Limited Partners’ interests in the Operating Partnership
130,306 116,245
Equity:
Common shares, $0.01 par value, 490,000,000 shares authorized,
203,058,977 and 208,979,900 shares issued and outstanding at
March 31, 2026 and December 31, 2025, respectively
2,031 2,090
Additional paid-in capital 4,445,350 4,612,280
Accumulated other comprehensive income 21,352 23,079
Accumulated deficit (1,611,337) (1,563,840)
Total shareholders’ equity 2,857,396 3,073,609
Noncontrolling interests 1,904 1,920
Total equity 2,859,300 3,075,529
Total liabilities and equity $ 6,350,260 $ 6,664,497
1st Quarter 2026 Supplemental Financial and Operating Statistics
3
Kite Realty Group
Consolidated Statements of Operations
(dollars in thousands, except per share amounts)
(unaudited)
Three Months Ended March 31,
2026 2025
Revenue:
Rental income $ 198,042 $ 219,172
Other property-related revenue 1,359 1,480
Fee income 1,296 425
Total revenue 200,697 221,077
Expenses:
Property operating 31,116 29,826
Real estate taxes 24,824 27,761
General, administrative and other 13,950 12,258
Depreciation and amortization 82,491 98,231
Impairment charges 5,888 —
Total expenses 158,269 168,076
Other (expense) income:
Interest expense (31,696) (32,954)
Income tax expense of taxable REIT subsidiaries (395) (10)
Gain on sales of operating properties, net — 91
Net gains from outlot sales 1,039 —
Equity in loss of unconsolidated joint ventures (2,216) (607)
Other income, net 2,572 4,743
Net income 11,732 24,264
Net income attributable to noncontrolling interests (338) (534)
Net income attributable to common shareholders $ 11,394 $ 23,730
Net income per common share – basic and diluted $ 0.06 $ 0.11
Weighted average common shares outstanding – basic 205,686,342 219,715,674
Weighted average common shares outstanding – diluted 206,063,468 219,827,298
1st Quarter 2026 Supplemental Financial and Operating Statistics
4
Kite Realty Group
Same Property Net Operating Income (“NOI”)
(dollars in thousands)
(unaudited)
Three Months Ended March 31,
2026 2025 Change
Number of properties in Same Property Pool for the period(1)
164 164
Leased percentage at period end 94.6 % 94.3 %
Economic occupancy percentage at period end 91.1 % 91.8 %
Economic occupancy percentage(2)
91.1 % 92.2 %
Minimum rent $ 144,188 $ 140,903
Tenant recoveries 44,054 40,641
Bad debt reserve (1,499) (1,887)
Other income, net 2,458 2,140
Total revenue 189,201 181,797
Property operating (28,105) (25,899)
Real estate taxes (24,098) (23,606)
Total expenses (52,203) (49,505)
Same Property NOI(3)
$ 136,998 $ 132,292 3.6 %
Reconciliation of Same Property NOI to most
directly comparable GAAP measure:
Net operating income – same properties $ 136,998 $ 132,292
Net operating income – sold properties (215) 20,470
Net operating income – non-same activity(4)
9,306 10,607
Less: KRG share of unconsolidated joint ventures included in Same Property NOI above (2,628) (304)
Net gains from outlot sales 1,039 —
Total property NOI 144,500 163,065 (11.4 %)
Other income, net 1,257 4,551
General, administrative and other (13,950) (12,258)
Impairment charges (5,888) —
Depreciation and amortization (82,491) (98,231)
Interest expense (31,696) (32,954)
Gain on sales of operating properties, net — 91
Net income attributable to noncontrolling interests (338) (534)
Net income attributable to common shareholders $ 11,394 $ 23,730
(1)Same Property NOI excludes the following:
▪Village Commons and Legacy West, which were acquired in 2025;
▪The Corner – IN, which was reclassified from active development into our operating portfolio in March 2025;
▪Eastgate Crossing, which was reclassified from our operating portfolio in September 2025 due to significant disruption caused by severe flooding as a result of Tropical Storm Chantal;
▪our active development project at One Loudoun Expansion noted on page 13;
▪Hamilton Crossing Centre and Edwards Multiplex – Ontario, which were reclassified from our operating portfolio into redevelopment in June 2014 and March 2023, respectively;
▪properties sold or classified as held for sale during 2025 and 2026; and
▪standalone office properties, including the Carillon medical office building.
(2)Excludes leases that are signed but for which tenants have not yet commenced the payment of cash rent. Calculated as a weighted average based on the timing of cash rent commencement and expiration during the period.
(3)Same Property NOI for all periods presented includes 52% of the NOI from three previously wholly owned properties that were contributed to the Seed Asset Joint Venture in June 2025 and excludes the results of the Company’s insurance captive. Please refer to page 20 for the Company’s definition of Same Property NOI.
(4)Includes non-cash activity as well as NOI from properties not included in the Same Property Pool.
1st Quarter 2026 Supplemental Financial and Operating Statistics
5
Kite Realty Group
Net Operating Income and Adjusted EBITDA by Quarter
(dollars in thousands)
(unaudited)
Three Months Ended
March 31,
2026 December 31,
2025 September 30,
2025 June 30,
2025 March 31,
2025
Revenue:
Minimum rent $ 136,496 $ 142,512 $ 144,110 $ 149,092 $ 150,150
Minimum rent – ground leases 10,566 10,447 10,637 10,450 10,644
Lease termination income 3,112 229 18 2,725 7,390
Straight-line rent 1,481 1,794 2,681 2,129 2,266
Non-cash market rent 1,495 1,275 1,919 1,569 3,538
Tenant reimbursements 44,794 42,033 43,666 45,103 46,213
Bad debt reserve (1,522) (2,018) (2,119) (1,625) (2,076)
Other property-related revenue(1)
798 4,481 891 865 955
Overage rent 1,619 1,952 1,281 1,738 1,048
Total revenue 198,839 202,705 203,084 212,046 220,128
Expenses:
Property operating – recoverable(2)
26,748 24,687 24,038 24,849 25,798
Property operating – non-recoverable(2)
3,989 3,799 4,131 3,700 3,661
Real estate taxes 24,641 24,264 25,459 26,492 27,604
Total expenses 55,378 52,750 53,628 55,041 57,063
NOI 143,461 149,955 149,456 157,005 163,065
Other (expense) income:
General, administrative and other (13,950) (15,628) (14,183) (13,390) (12,258)
Development fee income 65 317 259 445 282
Management and leasing fee income 1,231 1,354 1,032 408 143
Net gains from outlot sales 1,039 — 6,096 — —
Total other (expense) income (11,615) (13,957) (6,796) (12,537) (11,833)
Adjusted EBITDA 131,846 135,998 142,660 144,468 151,232
Impairment charges (5,888) (12,544) (39,305) — —
Depreciation and amortization (82,491) (87,799) (89,370) (97,887) (98,231)
Interest expense (31,696) (32,409) (33,162) (34,052) (32,954)
Equity in loss of unconsolidated subsidiaries (2,216) (3,186) (4,619) (3,238) (607)
Income tax expense of taxable REIT subsidiaries (395) (152) (106) (199) (10)
Interest income 2,444 1,853 1,659 493 4,049
Other income (expense), net 128 207 91 (8) 694
Gain on sales of operating properties, net — 183,107 5,742 103,022 91
Net income (loss) 11,732 185,075 (16,410) 112,599 24,264
Net (income) loss attributable to noncontrolling interests
(338) (4,253) 203 (2,281) (534)
Net income (loss) attributable to common shareholders $ 11,394 $ 180,822 $ (16,207) $ 110,318 $ 23,730
NOI/Revenue – Retail properties 73.1 % 74.6 % 74.3 % 74.4 % 74.7 %
NOI/Revenue 72.1 % 74.0 % 73.6 % 74.0 % 74.1 %
Recovery Ratio(3)
– Retail properties 91.9 % 90.2 % 91.8 % 92.0 % 91.4 %
– Consolidated 87.2 % 85.9 % 88.2 % 87.8 % 86.5 %
(1)Other property-related revenue also includes the net operating results of Eddy Street Parking Garage and Union Station Parking Garage. The three months ended December 31, 2025 includes a nonrecurring $3.6 million payment received related to the air rights lease of apartments at Eddy Street Commons.
(2)Recoverable expenses include recurring G&A expense of $4.0 million allocable to the property operations in the three months ended March 31, 2026, a portion of which is recoverable. Non-recoverable expenses primarily include ground rent, professional fees, and marketing costs.
(3)“Recovery Ratio” is computed by dividing tenant reimbursements by the sum of recoverable property operating expense and real estate tax expense.
1st Quarter 2026 Supplemental Financial and Operating Statistics
6
Kite Realty Group
NAREIT Funds From Operations (“FFO”)(1)
(dollars in thousands, except per share amounts)
(unaudited)
Three Months Ended March 31,
2026 2025
Net income $ 11,732 $ 24,264
Less: net income attributable to noncontrolling interests in properties (70) (70)
Less: gain on sales of operating properties, net — (91)
Add: impairment charges 5,888 —
Add: depreciation and amortization of consolidated and unconsolidated entities,
net of noncontrolling interests
91,824 98,677
NAREIT FFO of the Operating Partnership(1)
109,374 122,780
Less: Limited Partners’ interests in FFO
(2,623) (2,463)
FFO attributable to common shareholders(1)
$ 106,751 $ 120,317
FFO, as defined by NAREIT, per share of the Operating Partnership – basic $ 0.52 $ 0.55
FFO, as defined by NAREIT, per share of the Operating Partnership – diluted $ 0.52 $ 0.55
Weighted average common shares outstanding – basic 205,686,342 219,715,674
Weighted average common shares outstanding – diluted 205,775,355 219,827,298
Weighted average common shares and units outstanding – basic 210,742,420 224,214,867
Weighted average common shares and units outstanding – diluted 210,831,433 224,326,491
Reconciliation of NAREIT FFO to Core FFO(2)
NAREIT FFO of the Operating Partnership(1)
$ 109,374 $ 122,780
Add:
Amortization of deferred financing costs 1,807 1,644
Non-cash compensation expense and other 3,215 2,660
Less:
Straight-line rent – minimum rent and common area maintenance 2,141 2,578
Market rent amortization income 2,089 3,542
Amortization of debt discounts, premiums and hedge instruments 1,029 2,756
Core FFO of the Operating Partnership $ 109,137 $ 118,208
Core FFO per share of the Operating Partnership – diluted $ 0.52 $ 0.53
Reconciliation of Core FFO to Adjusted Funds From Operations (“AFFO”)(2)
Core FFO of the Operating Partnership $ 109,137 $ 118,208
Less:
Maintenance capital expenditures 6,697 6,298
Tenant-related capital expenditures(3)
19,314 31,322
Total Recurring AFFO of the Operating Partnership $ 83,126 $ 80,588
(1)“NAREIT FFO of the Operating Partnership” measures 100% of the operating performance of the Operating Partnership’s real estate properties. “FFO attributable to common shareholders” reflects a reduction for the redeemable noncontrolling weighted average diluted interest in the Operating Partnership.
(2)Includes the Company’s pro rata share from unconsolidated joint ventures.
(3)Excludes landlord work, tenant improvements and leasing commissions related to development and redevelopment projects.
1st Quarter 2026 Supplemental Financial and Operating Statistics
7
Kite Realty Group
Joint Venture Summary as of March 31, 2026
(dollars in thousands)
Consolidated Investments
Investments Total Debt
Partner Economic
Ownership Interest(1)
Partner
Share of Debt Partner Share
of Annual EBITDA
Delray Marketplace $ 11,600 2 % $ 232 $ —
One Loudoun – Pads G&H Residential 95,095 10 % 9,509 788
Total $ 106,695 $ 9,741 $ 788
(1)Economic ownership % represents the partner’s share of cash flow.
Unconsolidated Investments
Investments Total GLA Multifamily
Units KRG
Economic
Ownership Interest
Nuveen Portfolio 416,044 — 20 %
Embassy Suites at Eddy Street Commons — — 35 %
Glendale Center Apartments — — 11.5 %
The Corner – IN 23,852 285 50 %
Legacy West 785,712 782 52 %
Seed Assets 921,333 — 52 %
Total 2,146,941 1,067
Total Unconsolidated Investments
Investment as of March 31, 2026
$ 356,555
Three Months Ended
March 31,
2026 December 31,
2025 September 30,
2025 June 30,
2025
Adjusted EBITDA $ 9,978 $ 10,310 $ 10,203 $ 5,689
Depreciation and amortization (9,771) (11,163) (12,705) (6,932)
Interest expense (2,800) (2,823) (2,849) (2,185)
KRG share of management fees 377 490 732 190
KRG share of net loss $ (2,216) $ (3,186) $ (4,619) $ (3,238)
1st Quarter 2026 Supplemental Financial and Operating Statistics
8
Kite Realty Group
Key Debt Metrics as of March 31, 2026
(dollars in thousands)
March 31,
2026
Debt Covenant
Threshold(1)
Senior Unsecured Notes Covenants
Total debt to undepreciated assets 40.7% <60%
Secured debt to undepreciated assets 4.4% <40%
Undepreciated unencumbered assets to unsecured debt 249.7% >150%
Debt service coverage 4.1x >1.5x
Unsecured Credit Facility Covenants
Maximum leverage 34.4% <60%
Minimum fixed charge coverage 4.0x >1.5x
Secured indebtedness 3.9% <45%
Unsecured debt interest coverage 4.0x >1.75x
Unsecured leverage 34.3% <60%
Senior Unsecured Debt Ratings
Fitch Ratings BBB/Positive
Moody's Investors Service Baa2/Stable
Standard & Poor's Rating Services BBB/Stable
Liquidity
Cash and cash equivalents $ 32,539
Availability under unsecured credit facility 1,042,800
$ 1,075,339
Unencumbered NOI as a % of Total NOI, including pro rata share of unconsolidated joint ventures 89 %
(1)For a complete listing of all debt covenants related to the Company’s Senior Unsecured Notes and Unsecured Credit Facility, as well as definitions of the terms, refer to the Company’s filings with the SEC.
Net Debt to Adjusted EBITDA
Mortgage and other indebtedness, net $ 2,992,389
Add: Company share of unconsolidated joint venture debt 203,315
Add: debt discounts, premiums and issuance costs, net 2,216
Less: Partner share of consolidated joint venture debt (9,741)
Company's consolidated debt and share of unconsolidated debt 3,188,179
Less: cash and cash equivalents (32,539)
Less: restricted cash and escrow deposits (190,581)
Less: Company share of unconsolidated joint venture cash and cash equivalents (13,816)
Company share of Net Debt $ 2,951,243
Q1 2026 Adjusted EBITDA, Annualized:
– Consolidated Adjusted EBITDA $ 527,384
– Unconsolidated Adjusted EBITDA 39,912
– Minority interest Adjusted EBITDA(2)
(788) 566,508
Ratio of Company share of Net Debt to Adjusted EBITDA 5.2x
(2)See page 8 for details.
1st Quarter 2026 Supplemental Financial and Operating Statistics
9
Kite Realty Group
Summary of Outstanding Debt as of March 31, 2026
(dollars in thousands)
Total Outstanding Debt Amount
Outstanding Ratio Weighted Average
Interest Rate Weighted
Average Years to Maturity
Fixed rate debt(1)
$ 2,530,005 79 % 4.28 % 4.3
Variable rate debt(2)
464,600 15 % 4.58 % 2.9
Debt discounts, premiums and issuance costs, net (2,216) N/A N/A N/A
Total consolidated debt 2,992,389 94 % 4.33 % 4.1
KRG share of unconsolidated debt 193,328 6 % 4.29 % 4.0
Total $ 3,185,717 100 % 4.33 % 4.1
Schedule of Maturities by Year
Secured Debt
Scheduled
Principal Payments Term
Maturities Unsecured
Debt Total
Consolidated Debt Total
Unconsolidated Debt Total Debt
Outstanding
2026 $ 3,249 $ — $ 400,000 $ 403,249 $ — $ 403,249
2027 2,662 30,506 250,000 283,168 — 283,168
2028 2,943 — 350,000
(2)
352,943 10,378 363,321
2029 3,474 — 453,000 456,474 — 456,474
2030 2,936 100 400,000 403,036 192,937 595,973
2031 and beyond 3,186 92,549 1,000,000 1,095,735 — 1,095,735
Debt discounts, premiums and issuance costs, net — 747 (2,963) (2,216) (9,987) (12,203)
Total $ 18,450 $ 123,902 $ 2,850,037 $ 2,992,389 $ 193,328 $ 3,185,717
(1)Fixed rate debt includes the portion of variable rate debt that has been hedged by interest rate swaps. As of March 31, 2026, $150.0 million in variable rate debt is hedged to a fixed rate through July 17, 2026.
(2)Assumes the Company exercises its option to extend the maturity date of the $250.0 million unsecured term loan by one year to 2028.
1st Quarter 2026 Supplemental Financial and Operating Statistics
10
Kite Realty Group
Maturity Schedule of Outstanding Debt as of March 31, 2026
(dollars in thousands)
Description
Contractual
Interest Rate(1)
Swapped
Interest Rate(1)
Maturity
Date Balance as of
March 31, 2026 % of Total
Outstanding
Senior Unsecured Notes 4.08% 4.08% 9/30/2026 $ 100,000
Senior Unsecured Notes 4.00% 4.00% 10/1/2026 300,000
2026 Debt Maturities 4.02% 4.02% 400,000 13 %
Senior Unsecured Exchangeable Notes 0.75% 0.75% 4/1/2027 175,000
Northgate North 4.50% 4.50% 6/1/2027 20,787
Delray Marketplace(2)
SOFR + 2.15% SOFR + 2.15% 8/4/2027 11,600
Senior Unsecured Notes 4.57% 4.57% 9/10/2027 75,000
2027 Debt Maturities 2.25% 2.25% 282,387 9 %
Unsecured Term Loan(3)
SOFR + 0.85% SOFR + 0.85% 10/24/2028 250,000
Senior Unsecured Notes 4.24% 4.24% 12/28/2028 100,000
2028 Debt Maturities 4.45% 4.45% 350,000 11 %
Senior Unsecured Notes 4.82% 4.82% 6/28/2029 100,000
Unsecured Term Loan(4)
SOFR + 0.85% 3.52% 7/29/2029 300,000
Unsecured Credit Facility(5)
SOFR + 1.05% SOFR + 1.05% 10/3/2029 53,000
2029 Debt Maturities 4.61% 3.95% 453,000 14 %
Rampart Commons 5.73% 5.73% 6/10/2030 4,538
Senior Unsecured Notes 4.75% 4.75% 9/15/2030 400,000
2030 Debt Maturities 4.76% 4.76% 404,538 13 %
The Shoppes at Union Hill 3.75% 3.75% 6/1/2031 6,551
Senior Unsecured Notes 4.95% 4.95% 12/15/2031 350,000
Nora Plaza Shops 3.80% 3.80% 2/1/2032 3,034
Senior Unsecured Notes 5.20% 5.20% 8/15/2032 300,000
One Loudoun – Pads G&H Residential 5.36% 5.36% 5/1/2033 95,095
Senior Unsecured Notes(6)
4.60% 4.60% 3/1/2034 350,000
2031 and beyond Debt Maturities 4.93% 4.93% 1,104,680 35 %
Debt discounts, premiums and issuance costs, net (2,216)
Total debt per consolidated balance sheet 4.43% 4.33% $ 2,992,389 94 %
KRG share of unconsolidated debt
Nuveen Portfolio 4.09% 4.09% 7/1/2028 $ 10,378
The Corner – IN(7)
SOFR + 2.86% SOFR + 2.86% 7/4/2030 34,857
Legacy West 3.80% 3.80% 5/1/2030 158,080
KRG share of unconsolidated debt 4.29% 4.29% 203,315
KRG share of debt discounts and issuance costs, net (9,987)
Total KRG share of unconsolidated debt 193,328 6 %
Total consolidated and KRG share of
unconsolidated debt
4.42% 4.33% $ 3,185,717
As of March 31, 2026, the Company is a party to the following interest rate swap:
Interest Rate Swaps Swap
Maturity Date KRG Receives KRG Pays Aggregate Notional
Interest rate swap on Term Loan Due 7/29/2029 7/17/2026 1-month SOFR (3.66%) 1.68% $ 150,000
(1)At March 31, 2026, daily SOFR was 3.68% and one-month SOFR was 3.66%.
(2)The property is held in a joint venture. The loan is guaranteed by Kite Realty Group, LP. Assumes the Company exercises its option to extend the maturity date by one year to 2027.
(3)Assumes the Company exercises its option to extend the maturity date by one year to 2028.
(4)As of March 31, 2026, $150.0 million of the $300.0 million term loan balance is hedged to a fixed rate of 1.68% plus a credit spread of 0.85% based on the Company’s current credit rating until July 17, 2026. The swapped rate shown is the weighted average rate as of March 31, 2026.
(5)Assumes the Company exercises its option to extend the maturity date by one year to 2029.
(6)The interest rate reflects the impact of forward-starting interest rate swaps that fixed the underlying index on a portion of the outstanding principal prior to the issuance of the unsecured notes.
(7)The Corner – IN includes three loans with varying rates and maturity dates. As of March 31, 2026, the loans had a weighted average interest rate of 6.56% and a majority of the amount outstanding was at a floating rate. The maturity date shown is the weighted average maturity date as of March 31, 2026.
1st Quarter 2026 Supplemental Financial and Operating Statistics
11
Kite Realty Group
Acquisitions and Dispositions
(dollars in thousands)
Acquisitions
The Company did not acquire any operating properties during the three months ended March 31, 2026.
The Company acquired vacant land in the Indianapolis MSA for a purchase price of $7.8 million during the three months ended March 31, 2026.
Property Dispositions
Property Name Disposition Date MSA Grocery Anchor GLA Sales Price
Coram Plaza March 5, 2026 New York N/A 138,385 $ 12,500
1st Quarter 2026 Supplemental Financial and Operating Statistics
12
Kite Realty Group
Development and Redevelopment Projects
Project MSA KRG
Ownership %
Projected
Completion Date(1)
Total
Owned GLA Total
Multifamily Units Total Project
Costs – at KRG's Share KRG Equity
Requirement KRG
Remaining Spend Estimated
Stabilized NOI
to KRG
Estimated
Remaining NOI
to Come Online(2)
Active Projects
One Loudoun Expansion(3)
Washington, D.C./Baltimore 100% Q4 2026–
Q2 2027 119,000 — $81.0M–$91.0M $65.0M–$75.0M $48.0M–$58.0M $4.7M–$6.2M $1.7M–$3.2M
Future Opportunities(4)
Project MSA Project Description
Carillon Washington, D.C./Baltimore Potential of 1.2 million square feet of commercial GLA and 3,000 multifamily units for additional expansion.
Downtown Crown Washington, D.C./Baltimore Potential of 42,000 square feet of commercial GLA for additional expansion.
Edwards Multiplex – Ontario Los Angeles, CA Potential redevelopment of existing Regal Theatre.
Glendale Town Center Indianapolis, IN Potential of 200 multifamily units for additional expansion.
Hamilton Crossing Centre – Phase II Indianapolis, IN Addition of mixed-use (multifamily, office and retail) components adjacent to the Republic Airways headquarters.
Main Street Promenade Chicago, IL Potential of 16,000 square feet of commercial GLA for additional expansion.
One Loudoun Hotel Washington, D.C./Baltimore Potential for 1.7 million square feet remaining following the planned 170-room hotel.
One Loudoun Residential Washington, D.C./Baltimore Potential for approximately 1,300 multifamily units remaining following the planned 400 additional multifamily units.
The Shops at Legacy East Dallas/Ft. Worth, TX Potential of 285 multifamily units for additional expansion.
(1)Projected completion date represents the earlier of one year after completion of project construction or substantial occupancy of the property. The range for the One Loudoun Expansion represents a staggered stabilization schedule for the various buildings.
(2)Estimated remaining NOI to come online excludes in-place NOI and NOI related to tenants that have signed leases but have not yet commenced paying rent.
(3)KRG’s equity requirement is shown net of 2 over 2 land sale net proceeds of $15.9 million.
(4)These opportunities are deemed potential at this time and are subject to various contingencies, many of which could be beyond the Company’s control.
1st Quarter 2026 Supplemental Financial and Operating Statistics
13
Kite Realty Group
Geographic Diversification – ABR by Region and State as of March 31, 2026
(dollars in thousands)
Region/State
Number of
Properties(1)
Owned GLA(2)
Total
Weighted
ABR(3)
% of
Weighted
ABR(3)
South
Texas 40 7,503 $ 172,544 28.2 %
Florida 30 3,476 70,404 11.5 %
Virginia 7 1,307 39,687 6.5 %
Maryland 9 1,541 35,305 5.8 %
Georgia 11 1,849 31,561 5.1 %
North Carolina 6 1,076 25,625 4.2 %
Tennessee 3 580 9,598 1.6 %
Oklahoma 2 309 4,838 0.8 %
South Carolina 2 262 3,958 0.6 %
Total South 110 17,903 393,520 64.3 %
West
Washington 10 1,627 32,657 5.3 %
Nevada 5 846 30,315 5.0 %
Arizona 3 395 10,240 1.7 %
Utah 2 388 8,799 1.4 %
California 1 292 5,402 0.9 %
Total West 21 3,548 87,413 14.3 %
Midwest
Indiana 15 1,928 40,131 6.5 %
Illinois 7 1,222 27,593 4.5 %
Michigan 1 308 7,127 1.2 %
Missouri 1 453 3,811 0.6 %
Ohio 1 236 1,968 0.3 %
Total Midwest 25 4,147 80,630 13.1 %
Northeast
New York 6 748 27,322 4.5 %
New Jersey 4 342 12,254 2.0 %
Massachusetts 1 264 4,871 0.8 %
Connecticut 1 206 4,084 0.7 %
Pennsylvania 1 136 1,982 0.3 %
Total Northeast 13 1,696 50,513 8.3 %
Total(4)
169 27,294 $ 612,076 100.0 %
(1)Number of properties represents consolidated and unconsolidated retail/mixed-use properties and standalone office properties.
(2)Owned GLA represents gross leasable area owned by the Company and excludes the square footage of development and redevelopment projects.
(3)Total weighted ABR and percent of weighted ABR includes ground lease rent and represents the Company’s share of the ABR at consolidated and unconsolidated properties.
(4)Excludes one operating retail property classified as held for sale as of March 31, 2026 and Eastgate Crossing.
1st Quarter 2026 Supplemental Financial and Operating Statistics
14
Kite Realty Group
Top 25 Tenants by ABR as of March 31, 2026
(dollars in thousands, except per square foot data)
The following table includes the Company’s operating retail/mixed-use properties and standalone office properties.
Credit Ratings
Tenant Primary DBA/
Number of Stores
Number
of Stores(1)
Total
Leased
GLA(2)
ABR(3)
% of
Weighted ABR(4)
S&P Moody’s
1 The TJX Companies, Inc. T.J. Maxx (16), Marshalls (12), HomeGoods (10), Homesense (5), Sierra (4), T.J. Maxx & HomeGoods combined (2) 49 1,398 $ 15,736 2.6 % A A2
2 Ross Stores, Inc. Ross Dress for Less (28), dd’s DISCOUNTS (1) 29 824 11,645 1.9 % BBB+ A2
3 PetSmart, Inc. 29 593 9,997 1.6 % B+ B2
4 Best Buy Co., Inc. Best Buy (14), Pacific Sales (1) 15 593 9,069 1.5 % BBB+ A3
5 Dick’s Sporting Goods, Inc. Dick’s Sporting Goods (10), Foot Locker (3), Golf Galaxy (2) 15 613 8,688 1.4 % BBB Baa2
6 Publix Super Markets, Inc. 15 720 7,849 1.3 % N/A N/A
7 Gap Inc. Old Navy (22), Athleta (3), Banana Republic (2), The Gap (2) 29 392 7,091 1.2 % BB+ Ba2
8 Michaels Stores, Inc. Michaels 21 466 6,056 1.0 % B- B2
9 The Kroger Co. Kroger (6), Harris Teeter (2),
QFC (1), Smith’s (1) 10 356 5,978 1.0 % BBB Baa1
10 Lowe’s Companies, Inc. 6 — 5,958 1.0 % BBB+ Baa1
11 BJ’s Wholesale Club, Inc. 3 115 5,892 1.0 % BB+ Ba1
12 Ulta Beauty, Inc. 24 246 5,205 0.9 % N/A N/A
13 Burlington Stores, Inc. 12 456 5,112 0.8 % BB+ N/A
14 Total Wine & More 13 304 5,111 0.8 % N/A N/A
15 Fitness International, LLC LA Fitness (4), XSport Fitness (1) 5 206 5,098 0.8 % B B2
16 Whole Foods Market, Inc. 7 238 4,917 0.8 % AA- A1
17 The Container Store Group, Inc. 7 151 4,650 0.8 % N/A N/A
18 Five Below, Inc. 26 237 4,465 0.7 % N/A N/A
19 Albertsons Companies, Inc. Safeway (3), Tom Thumb (2), Jewel-Osco (1) 6 281 4,198 0.7 % BB+ Ba1
20 Trader Joe’s 10 137 4,175 0.7 % N/A N/A
21
Petco Health and Wellness
Company, Inc.
15 218 3,986 0.7 % B B3
22 Dollar Tree, Inc. 24 281 3,940 0.6 % BBB Baa2
23 Sprouts Farmers Market, Inc. 7 194 3,854 0.6 % N/A N/A
24 Barnes & Noble, Inc. 9 211 3,851 0.6 % N/A N/A
25 NYC Department of Education 1 76 3,826 0.6 % N/A N/A
Total Top Tenants 387 9,306 $ 156,347 25.6 %
(1)Number of stores represents stores at consolidated and unconsolidated properties.
(2)Total leased GLA excludes the square footage of structures located on land owned by the Company and ground-leased to tenants.
(3)ABR represents the monthly contractual rent for March 31, 2026, for each applicable tenant multiplied by 12 and does not include tenant reimbursements. ABR represents 100% of the ABR at consolidated properties and the Company’s share of the ABR at unconsolidated properties, including ground lease rent.
(4)Percent of weighted ABR includes ground lease rent and represents the Company’s share of the ABR at consolidated and unconsolidated properties.
1st Quarter 2026 Supplemental Financial and Operating Statistics
15
Kite Realty Group
Retail Leasing Spreads
Comparable Space(1)(2)
Category
Total
Leases(1)
Total
Sq. Ft.(1)
Leases Sq. Ft.
Prior Rent PSF(3)
New Rent PSF(4)
Cash Rent Spread
TI, LL Work,
Lease Commissions PSF(5)
New Leases – Q1 2026 47 163,714 26 122,341 $ 22.84 $ 29.97 31.3 %
New Leases – Q4 2025 61 373,526 35 246,708 24.46 29.79 21.8 %
New Leases – Q3 2025 43 275,001 24 148,324 24.91 31.41 26.1 %
New Leases – Q2 2025 64 342,658 38 219,271 19.65 25.80 31.3 %
Total 215 1,154,899 123 736,644 $ 22.85 $ 28.96 26.7 % $ 96.62
Non-Option Renewals – Q1 2026 64 219,136 47 170,085 $ 29.97 $ 33.65 12.3 %
Non-Option Renewals – Q4 2025 65 350,495 40 245,208 20.83 23.86 14.5 %
Non-Option Renewals – Q3 2025 70 306,526 51 177,659 25.12 28.36 12.9 %
Non-Option Renewals – Q2 2025 63 223,294 52 159,247 27.12 32.47 19.7 %
Total 262 1,099,451 190 752,199 $ 25.24 $ 28.96 14.7 % $ 4.64
Option Renewals – Q1 2026 40 324,150 40 324,150 $ 20.67 $ 22.12 7.0 %
Option Renewals – Q4 2025 38 554,221 38 554,221 17.32 18.40 6.2 %
Option Renewals – Q3 2025 54 648,417 54 648,417 18.93 20.41 7.8 %
Option Renewals – Q2 2025 43 648,679 43 648,679 12.72 13.76 8.2 %
Total 175 2,175,467 175 2,175,467 $ 16.93 $ 18.17 7.3 % $ —
Total – Q1 2026 151 707,000 113 616,576 $ 23.67 $ 26.86 13.5 %
Total – Q4 2025 164 1,278,242 113 1,046,137 19.82 22.37 12.8 %
Total – Q3 2025 167 1,229,944 129 974,400 20.97 23.53 12.2 %
Total – Q2 2025 170 1,214,631 133 1,027,197 16.43 19.23 17.0 %
Total 652 4,429,817 488 3,664,310 $ 19.82 $ 22.55 13.8 % $ 20.38
(1)Excludes office and ground leases. Comparable space leases on this table are included for second generation retail spaces. Comparable leases represent those leases for which there was a former tenant within the last 12 months.
(2)Comparable renewals exclude leases with terms 24 months or shorter.
(3)Prior rent represents minimum rent, if any, paid by the prior tenant in the final 12 months of the term. All amounts reported at lease execution.
(4)Contractual rent represents contractual minimum rent per square foot for the first 12 months of the lease.
(5)Includes redevelopment costs for tenant-specific landlord work and tenant allowances provided to tenants.
1st Quarter 2026 Supplemental Financial and Operating Statistics
16
Kite Realty Group
Lease Expirations as of March 31, 2026
(dollars in thousands, except per square foot data)
The following table includes the Company’s operating retail/mixed-use properties and standalone office properties as of March 31, 2026.
Operating Portfolio
Expiring GLA(2)
Expiring Retail ABR per Sq. Ft.(3)
Number of
Expiring
Leases(1)
Shop
Tenants Anchor
Tenants Office
Tenants Expiring ABR
(Pro rata) Expiring Ground Lease ABR
(Pro rata) % of
Total ABR
(Pro rata) Shop
Tenants Anchor
Tenants Total
2026 265 539,905 495,617 105,623 $ 27,052 $ 1,225 4.6 % $ 32.58 $ 14.69 $ 24.02
2027 534 1,158,833 1,919,069 166,464 70,834 5,437 12.5 % 35.28 15.32 22.83
2028 579 1,230,562 2,369,763 323,920 85,462 6,229 15.0 % 37.28 14.59 22.35
2029 564 1,192,129 2,595,330 186,729 86,650 3,581 14.7 % 37.15 15.46 22.29
2030 440 1,057,323 1,629,174 121,401 60,007 5,713 10.7 % 34.23 13.31 21.54
2031 376 853,380 1,693,594 257,694 62,022 4,254 10.8 % 36.32 15.44 22.44
2032 229 555,659 1,318,500 179,104 41,393 585 6.9 % 34.65 14.24 20.29
2033 211 542,659 699,678 30,589 32,084 4,156 5.9 % 39.23 15.63 25.94
2034 181 359,795 673,807 83,412 28,278 2,230 5.0 % 43.37 17.25 26.34
2035 171 383,785 770,845 112,335 28,935 899 4.9 % 36.61 16.78 23.37
Beyond 244 487,669 1,447,656 125,879 49,812 5,237 9.0 % 44.84 18.88 25.43
3,794 8,361,699 15,613,033 1,693,150 $ 572,529 $ 39,546 100.0 % $ 36.82 $ 15.42 $ 22.89
(1)Lease expirations table reflects rents in place as of March 31, 2026 and does not include option periods; 2026 expirations include 35 month-to-month tenants. This column also excludes ground leases.
(2)Expiring GLA excludes the square footage of structures located on land owned by the Company and ground-leased to tenants.
(3)ABR represents the monthly contractual rent as of March 31, 2026 for each applicable tenant multiplied by 12. Excludes tenant reimbursements and ground lease revenue.
1st Quarter 2026 Supplemental Financial and Operating Statistics
17
Kite Realty Group
Components of Net Asset Value as of March 31, 2026
(dollars in thousands)
Cash Net Operating Income (“NOI”) Page
Other Assets(1)
Page
GAAP property NOI (incl. ground lease revenue) $ 143,461 6 Cash, cash equivalents and restricted cash $ 223,120 3
Lease termination income (3,112) 6 Tenant and other receivables (net of SLR) 60,742 3
Non-cash revenue adjustments (4,230) Prepaid and other assets 98,560 3
Other property-related revenue (798) 6
Ground lease (“GL”) revenue (10,566) 6
Consolidated Cash Property NOI (excl. GL) $ 124,755
Annualized Consolidated Cash Property NOI
(excl. ground leases)
$ 499,020
Adjustments to Normalize Annualized Cash NOI Liabilities
Remaining NOI to come online from development and redevelopment projects(2)
$ 2,450 13 Mortgage and other indebtedness, net $ (2,994,605) 10
Unconsolidated Adjusted EBITDA 39,912 Pro rata adjustment for joint venture debt (193,574)
General and administrative expense allocable to property management activities included in property expenses ($4.0 million in Q1) 16,000 6, note 2 Accounts payable and accrued expenses (156,908) 3
Total Adjustments 58,362 Other liabilities (207,603) 3
Projected remaining under construction development/redevelopment(3)
(53,000) 13
Annualized Normalized Portfolio Cash NOI
(excl. ground leases)
$ 557,382
Annualized ground lease NOI 42,264
Total Annualized Portfolio Cash NOI(4)
$ 599,646 Common shares and Units outstanding 208,366,738
(1)Excludes construction in progress and entitled land held for development.
(2)Excludes the projected cash NOI and related cost from the future opportunities outlined on page 13.
(3)Remaining costs on page 13 for the development project.
(4)The above components of net asset value exclude NOI related to tenants that have signed leases but have not yet commenced paying rent as of March 31, 2026.
1st Quarter 2026 Supplemental Financial and Operating Statistics
18
Kite Realty Group
Non-GAAP Financial Measures
NAREIT Funds from Operations
NAREIT Funds From Operations (“FFO”) is a widely used performance measure for real estate companies and is provided here as a supplemental measure of our operating performance. The Company calculates FFO, a non-GAAP financial measure, in accordance with the best practices described in the April 2002 National Policy Bulletin of the National Association of Real Estate Investment Trusts (“NAREIT”), as restated in 2018. The NAREIT white paper defines FFO as net income (calculated in accordance with GAAP), excluding (i) depreciation and amortization related to real estate, (ii) gains and losses from the sale of certain real estate assets, (iii) gains and losses from change in control, and (iv) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity.
Considering the nature of our business as a real estate owner and operator, the Company believes that FFO is helpful to investors in measuring our operational performance because it excludes various items included in net income that do not relate to or are not indicative of our operating performance, such as gains or losses from sales of depreciated property and depreciation and amortization, which can make periodic and peer analyses of operating performance more difficult. FFO (a) should not be considered as an alternative to net income (calculated in accordance with GAAP) for the purpose of measuring our financial performance, (b) is not an alternative to cash flows from operating activities (calculated in accordance with GAAP) as a measure of our liquidity, and (c) is not indicative of funds available to satisfy our cash needs, including our ability to make distributions. The Company’s computation of FFO may not be comparable to FFO reported by other REITs that do not define the term in accordance with the current NAREIT definition or that interpret the current NAREIT definition differently than we do. A reconciliation of net income (calculated in accordance with GAAP) to FFO is included elsewhere in this Financial Supplement.
From time to time, the Company may report or provide guidance with respect to “FFO, as adjusted,” which removes the impact of certain non-recurring and non-operating transactions or other items the Company does not consider to be representative of its core operating results including, without limitation, (i) gains or losses associated with the early extinguishment of debt, (ii) gains or losses associated with litigation involving the Company that is not in the normal course of business, (iii) merger and acquisition costs, (iv) the impact on earnings from significant and non-recurring employee severance costs and recruiting expenses, including sign-on bonuses and search fees, (v) the excess of redemption value over carrying value of preferred stock redemption, and (vi) the impact of prior period bad debt or the collection of accounts receivable previously written off (“prior period collection impact”), which are not otherwise adjusted in the Company’s calculation of FFO.
Core Funds from Operations
Core Funds From Operations (“Core FFO”) is a non-GAAP financial measure of operating performance that modifies FFO for certain non-cash transactions that result in recording income or expense and impact the Company’s period-over-period performance, including (i) amortization of deferred financing costs, (ii) non-cash compensation expense and other, (iii) straight-line rent related to minimum rent and common area maintenance, (iv) market rent amortization income, and (v) amortization of debt discounts, premiums and hedge instruments, and include adjustments related to our pro rata share from unconsolidated joint ventures for these categories as applicable. The Company believes that Core FFO is useful to investors in evaluating the core cash flow-generating operations of the Company by adjusting for items that we do not consider to be part of our core business operations, allowing for comparison of core operating performance of the Company between periods. Core FFO should not be considered as an alternative to net income as an indicator of the Company’s performance or as an alternative to cash flow as a measure of liquidity or the Company’s ability to make distributions. The Company’s computation of Core FFO may differ from the methodology for calculating Core FFO used by other REITs, and therefore, may not be comparable to such other REITs.
Adjusted Funds from Operations
Adjusted Funds From Operations (“AFFO”) is a non-GAAP financial measure of operating performance used by many companies in the real estate industry. AFFO modifies FFO for certain cash and non-cash transactions that are not included in FFO. AFFO should not be considered as an alternative to net income as an indicator of the Company’s performance or as an alternative to cash flow as a measure of liquidity or the Company’s ability to make distributions. Management considers AFFO a useful supplemental measure of the Company’s performance. The Company’s computation of AFFO may differ from the methodology for calculating AFFO used by other REITs, and therefore, may not be comparable to such other REITs. A reconciliation of net income (calculated in accordance with GAAP) to AFFO is included elsewhere in this Financial Supplement.
Net Operating Income, Cash Net Operating Income and Same Property Net Operating Income
The Company uses net operating income (“NOI”) and cash NOI, which are non-GAAP financial measures, to evaluate the performance of our properties. The Company also uses total property NOI, which is defined as NOI plus net gains from outlot sales. The Company defines NOI and cash NOI as income from our real estate, including lease termination fees received from tenants, less our property operating expenses. NOI and cash NOI exclude amortization of capitalized tenant improvement costs and leasing commissions and certain corporate-level expenses, including merger and acquisition costs. Cash NOI also excludes other property-related revenue as that activity is recurring but unpredictable in its occurrence, straight-line rent adjustments, and amortization of in-place lease liabilities, net. The Company believes that NOI and cash NOI are helpful to investors as measures of our operating performance because they exclude various items included in net income that do not relate to or are not indicative of our operating performance, such as depreciation and amortization, interest expense, and impairment, if any.
1st Quarter 2026 Supplemental Financial and Operating Statistics
19
Kite Realty Group
Non-GAAP Financial Measures (continued)
Net Operating Income, Cash Net Operating Income and Same Property Net Operating Income (continued)
The Company also uses same property NOI (“Same Property NOI”), a non-GAAP financial measure, to evaluate the performance of our properties. Same Property NOI is net income excluding properties that have not been owned for the full periods presented. Beginning in 2026, the Company revised its Same Property NOI definition to exclude the results of the Company’s insurance captive to more clearly reflect the performance of our core real estate portfolio. Same Property NOI also excludes (i) net gains from outlot sales, (ii) straight-line rent revenue, (iii) lease termination income in excess of lost rent, (iv) amortization of lease intangibles, (v) significant prior period expense recoveries and adjustments, if any, and (vi) income or expense associated with the Company’s captive insurance company. When the Company receives payments in excess of any accounts receivable for terminating a lease, Same Property NOI will include such excess payments as monthly rent until the earlier of the expiration of 12 months or the start date of a replacement tenant.
The Company believes that Same Property NOI is helpful to investors as a measure of our operating performance because it includes only the NOI of properties that have been owned for the full periods presented. The Company believes such presentation eliminates disparities in net income due to the acquisition or disposition of properties during the particular periods presented and thus provides a more consistent metric for the comparison of our properties. Additionally, because results from the Company’s insurance captive are driven by insurance underwriting, loss experience, and actuarial assumptions and therefore do not reflect the operating performance of our real estate properties, management believes excluding the impacts of the insurance captive improves transparency and comparability for the Company’s investors. Same Property NOI includes the results of properties that have been owned for the entire current and prior year reporting periods. Same Property NOI for all periods presented includes 52% of the NOI from three previously wholly owned properties that were contributed to the Seed Asset Joint Venture in June 2025 and excludes the results of the Company’s insurance captive.
NOI and Same Property NOI should not, however, be considered as an alternative to net income (calculated in accordance with GAAP) as an indicator of our financial performance. The Company’s computation of NOI and Same Property NOI may differ from the methodology used by other REITs and, therefore, may not be comparable to such other REITs.
When evaluating the properties that are included in the Same Property Pool, we have established specific criteria for determining the inclusion of properties acquired or those recently under development. An acquired property is included in the Same Property Pool when there is a full quarter of operations in both years subsequent to the acquisition date. Development and redevelopment properties are included in the Same Property Pool four full quarters after the properties have been transferred to the operating portfolio. A redevelopment property is first excluded from the Same Property Pool when the execution of a redevelopment plan is likely, and we (a) begin recapturing space from tenants or (b) the contemplated plan significantly impacts the operations of the property. For the three months ended March 31, 2026, the Same Property Pool excludes the following: (i) Village Commons and Legacy West, which were acquired in 2025; (ii) The Corner – IN, which was reclassified from active development into our operating portfolio in March 2025; (iii) Eastgate Crossing, which was reclassified from our operating portfolio in September 2025 due to significant disruption caused by severe flooding as a result of Tropical Storm Chantal; (iv) our active development project at One Loudoun Expansion; (v) Hamilton Crossing Centre and Edwards Multiplex – Ontario, which were reclassified from our operating portfolio into redevelopment in June 2014 and March 2023, respectively; (vi) properties sold or classified as held for sale during 2025 and 2026; and (vii) standalone office properties, including the Carillon medical office building.
Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) and Net Debt to Adjusted EBITDA
The Company defines EBITDA, a non-GAAP financial measure, as net income before interest expense, income tax expense of the taxable REIT subsidiaries, and depreciation and amortization. For informational purposes, the Company also provides Adjusted EBITDA, which it defines as EBITDA less (i) EBITDA from unconsolidated entities, as adjusted, (ii) gains on sales of operating properties or impairment charges, (iii) merger and acquisition costs, (iv) other income and expense, (v) noncontrolling interest Adjusted EBITDA, and (vi) other non-recurring activity or items impacting comparability from period to period. Annualized Adjusted EBITDA is Adjusted EBITDA for the most recent quarter multiplied by four. Net Debt to Adjusted EBITDA is the Company’s share of net debt divided by Annualized Adjusted EBITDA. EBITDA, Adjusted EBITDA, Annualized Adjusted EBITDA and Net Debt to Adjusted EBITDA, as calculated by the Company, are not comparable to EBITDA and EBITDA-related measures reported by other REITs that do not define EBITDA and EBITDA-related measures exactly as we do. EBITDA, Adjusted EBITDA and Annualized Adjusted EBITDA do not represent cash generated from operating activities in accordance with GAAP and should not be considered alternatives to net income as an indicator of performance or as alternatives to cash flows from operating activities as an indicator of liquidity.
Considering the nature of our business as a real estate owner and operator, the Company believes that EBITDA, Adjusted EBITDA and the ratio of Net Debt to Adjusted EBITDA are helpful to investors in measuring our operational performance because they exclude various items included in net income that do not relate to or are not indicative of our operating performance, such as gains or losses from sales of depreciated property and depreciation and amortization, which can make periodic and peer analyses of operating performance more difficult. For informational purposes, the Company also provides Annualized Adjusted EBITDA, adjusted as described above. The Company believes this supplemental information provides a meaningful measure of its operating performance. The Company believes presenting EBITDA and the related measures in this manner allows investors and other interested parties to form a more meaningful assessment of the Company’s operating results.
1st Quarter 2026 Supplemental Financial and Operating Statistics
20
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v3.26.1
COVER PAGE
Apr. 29, 2026
Entity Information [Line Items]
Document Type
8-K
Document Period End Date
Apr. 29, 2026
Entity Registrant Name
KITE REALTY GROUP TRUST
Entity Incorporation, State or Country Code
MD
Entity File Number
001-32268
Entity Tax Identification Number
11-3715772
Entity Address, Address Line One
30 S. Meridian Street
Entity Address, Address Line Two
Suite 1100
Entity Address, City or Town
Indianapolis
Entity Address, State or Province
IN
Entity Address, Postal Zip Code
46204
City Area Code
(317)
Local Phone Number
577-5600
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Title of 12(b) Security
Common Shares, $0.01 par value per share
Trading Symbol
KRG
Security Exchange Name
NYSE
Entity Emerging Growth Company
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Entity Central Index Key
0001286043
Amendment Flag
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Kite Realty Group, L.P.
Entity Information [Line Items]
Entity Registrant Name
KITE REALTY GROUP, L.P.
Entity Incorporation, State or Country Code
DE
Entity File Number
333-202666-01
Entity Tax Identification Number
20-1453863
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dei_LegalEntityAxis=krg_KiteRealtyGroupLPMember
Namespace Prefix:
Data Type:
na
Balance Type:
Period Type: