Kite Realty Group Trust Reports Second Quarter 2024 Operating Results

INDIANAPOLIS, July 30, 2024 (GLOBE NEWSWIRE) -- Kite Realty Group Trust (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored centers and vibrant mixed-use assets, reported today its operating results for the second quarter ended June 30, 2024. For the quarters ended June 30, 2024 and 2023, net loss attributable to common shareholders was $48.6 million, or $0.22 per diluted share, compared to net income of $32.1 million, or $0.15 per diluted share, respectively. For the six months ended June 30, 2024 and 2023, net loss attributable to common shareholders was $34.5 million, or $0.16 per diluted share, compared to net income of $37.4 million, or $0.17 per diluted share, respectively. The net loss for the quarter and six months ended June 30, 2024 was driven by a $66.2 million impairment charge associated with an asset classified as held for sale as of June 30, 2024. Excluding the impairment charge, net income for the quarter and six months ended June 30, 2024 would have been $17.6 million, or $0.08 per diluted share, and $31.7 million, or $0.14 per diluted share, respectively.