Kite Realty Group Reports Fourth Quarter and Full Year 2024 Operating Results and Provides 2025 Guidance

INDIANAPOLIS, Feb. 11, 2025 (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 fourth quarter and year ended December 31, 2024. For the quarters ended December 31, 2024 and 2023, net income attributable to common shareholders was $21.8 million, or $0.10 per diluted share, compared to $8.0 million, or $0.04 per diluted share, respectively. For the years ended December 31, 2024 and 2023, net income attributable to common shareholders was $4.1 million, or $0.02 per diluted share, compared to $47.5 million, or $0.22 per diluted share, respectively. Net income for the year ended December 31, 2024 was driven by a $66.2 million impairment charge associated with an asset that remains classified as held for sale as of December 31, 2024. Excluding the impairment charge, net income for the year ended December 31, 2024 would have been $70.3 million, or $0.32 per diluted share.