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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): October 30, 2024 
KITE REALTY GROUP TRUST
KITE REALTY GROUP, L.P.
(Exact name of registrant as specified in its charter) 
Maryland001-3226811-3715772
Delaware333-202666-0120-1453863
(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 classTrading SymbolName of each exchange on which registered
Common Shares, $0.01 par value per shareKRGNew 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 October 30, 2024, Kite Realty Group Trust (the “Company”) announced its consolidated financial results for the quarter ended September 30, 2024. 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 Third Quarter 2024 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 
99.2 
104Cover 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: October 30, 2024By:/s/ HEATH R. FEAR
  Heath R. Fear
  Executive Vice President and
  Chief Financial Officer
KITE REALTY GROUP, L.P.
By: Kite Realty Group Trust, its sole general partner
By:/s/ HEATH R. FEAR
Heath R. Fear
Executive Vice President and
Chief Financial Officer



Exhibit 99.1
kitelogoa.jpg
PRESS RELEASE
Contact Information: Kite Realty Group
Tyler Henshaw
SVP, Capital Markets & Investor Relations
317.713.7780
thenshaw@kiterealty.com
Kite Realty Group Reports Third Quarter 2024 Operating Results
Indianapolis, Indiana, October 30, 2024 – 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 third quarter ended September 30, 2024. For the quarters ended September 30, 2024 and 2023, net income attributable to common shareholders was $16.7 million, or $0.08 per diluted share, compared to $2.1 million, or $0.01 per diluted share, respectively. For the nine months ended September 30, 2024 and 2023, net loss attributable to common shareholders was $17.8 million, or $0.08 per diluted share, compared to net income of $39.5 million, or $0.18 per diluted share, respectively.
Company raises 2024 NAREIT FFO and Same Property NOI Guidance
Leased an all-time high volume of approximately 1.7 million square feet at 11.1% comparable
blended cash leasing spreads
Acquired a grocery-anchored center in the Atlanta MSA for $40.1 million
Issued $350 million of 4.95% senior unsecured notes due December 2031
“The KRG team continues to capitalize on the strong demand for space in our high-quality shopping centers and mixed-use projects, as demonstrated by our all-time high leasing volume,” said John A. Kite, Chairman and CEO. “As we enter the back half of our elevated lease-up phase, we look forward to allocating higher levels of free cash flow to select development projects and evaluating a variety of opportunities afforded by our below-target leverage and favorable cost of debt.”
Third Quarter 2024 Financial and Operational Results
▪Generated NAREIT FFO of the Operating Partnership of $113.9 million, or $0.51 per diluted share, for the third quarter and $344.3 million, or $1.54 per diluted share, year to date.
▪Same Property NOI increased by 3.0% for the third quarter and increased by 2.4% year to date.
▪Executed 205 new and renewal leases representing approximately 1.7 million square feet.
▪Blended cash leasing spreads of 11.1% on 155 comparable leases, including 24.9% on 35 comparable new leases, 11.9% on 59 comparable non-option renewals and 7.7% on 61 comparable option renewals.
▪Cash leasing spreads of 16.7% on a blended basis for comparable new and non-option renewal leases.
▪Operating retail portfolio ABR per square foot of $21.01 at September 30, 2024, a 2.2% increase year-over-year.
▪Retail portfolio leased percentage of 95.0% at September 30, 2024, a 20-basis point increase sequentially.
▪Portfolio leased-to-occupied spread at period end of 270 basis points, which represents $32.6 million of signed-not-open NOI.


Third Quarter 2024 Capital Allocation Activity
▪Acquired Parkside West Cobb (Atlanta MSA), a 141,627 square foot grocery-anchored center, for $40.1 million.
▪Activated the One Loudoun Expansion (Washington, D.C. MSA), which is expected to include approximately 86,000 square feet of retail and 33,000 square feet of office with estimated net project costs of $65.0 million to $75.0 million generating a 7.25% to 8.25% yield.
Third Quarter 2024 Balance Sheet Overview
▪As of September 30, 2024, the Company’s net debt to Adjusted EBITDA was 4.9x.
▪Issued $350 million of senior unsecured notes due December 15, 2031 at a fixed interest rate of 4.95%. The Company expects proceeds will be used to satisfy its $350 million senior unsecured notes that mature on March 15, 2025.
▪Subsequent to quarter end, closed on an amended $1.1 billion unsecured revolving credit facility and an amended $250 million unsecured term loan facility. The term of the unsecured revolving credit facility was extended three years and now matures on October 3, 2028 with the option to further extend such maturity date by either one 1-year period or up to two 6-month periods. In addition, the amended credit facility provides the Company with the ability to obtain more favorable pricing in certain circumstances when the Company’s total leverage ratio meets defined targets. The interest rate margin on the unsecured term loan facility was reduced to a rate of Adjusted Term SOFR plus a margin ranging from 0.75% to 1.60% (from 2.00% to 2.50% previously) or a base rate plus a margin ranging from 0.00% to 0.60%.
Dividend
On October 28, 2024, the Company’s Board of Trustees declared a fourth quarter 2024 dividend of $0.27 per common share, which represents a 3.8% sequential increase and an 8.0% year-over-year increase. The fourth quarter dividend will be paid on or about January 16, 2025, to shareholders of record as of January 9, 2025.
2024 Earnings Guidance
The Company now expects to generate net income attributable to common shareholders of $0.02 to $0.04 per diluted share in 2024. The Company is updating its 2024 NAREIT FFO guidance range to $2.06 to $2.08 per diluted share from $2.04 to $2.08 per diluted share, based, in part, on the following assumptions:
▪2024 Same Property NOI range of 2.5% to 3.0%, which represents a 25-basis point increase at the midpoint.
▪Full-year bad debt assumption of 0.6% to 0.8% of total revenues.
The following table reconciles the Company’s 2024 net income guidance range to the Company’s 2024 NAREIT FFO guidance range:
LowHigh
Net income$0.02 $0.04 
Depreciation and amortization1.75 1.75 
Realized gain on sale of unconsolidated property, net(0.01)(0.01)
Impairment charges0.30 0.30 
NAREIT FFO$2.06 $2.08 
Earnings Conference Call
Kite Realty Group will conduct a conference call to discuss its financial results on Thursday, October 31, 2024, at 11:00 a.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 Third Quarter 2024 Webcast. The dial-in registration link is: KRG Third Quarter 2024 Teleconference Registration. In addition, a webcast replay link will be available on KRG’s website.


About Kite Realty Group
Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets. The combination of necessity-based grocery-anchored neighborhood and community centers, along with vibrant mixed-use assets makes the KRG portfolio an ideal mix for both retailers and consumers. Publicly listed since 2004, KRG has over 60 years of experience in developing, constructing and operating real estate. Using operational, investment, development, and redevelopment expertise, KRG continuously optimizes its portfolio to maximize value and return to shareholders. As of September 30, 2024, the Company owned interests in 179 U.S. open-air shopping centers and mixed-use assets, comprising approximately 27.7 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 (the “Securities Act”) 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 a potential economic slowdown or recession, 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; 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, causing costs to rise sharply and inventory to fall; risks related to our current geographical concentration of the Company’s 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 short-term or long-term changes in consumer behavior due to COVID-19 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; risks associated with cybersecurity attacks and the loss of confidential information and other business disruptions; other factors affecting the real estate industry generally; whether our current development projects and new development opportunities will benefit from our favorable cost of debt, below-target leverage and higher levels of free cash flow; 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, 2023, 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 Trust
Consolidated Balance Sheets
(dollars in thousands)
(unaudited)
 September 30,
2024		December 31,
2023
Assets:  
Investment properties, at cost$7,607,849 $7,740,061 
Less: accumulated depreciation(1,516,840)(1,381,770)
Net investment properties6,091,009 6,358,291 
Cash and cash equivalents117,530 36,413 
Tenant and other receivables, including accrued straight-line rent
of $65,334 and $55,482, respectively
113,811 113,290 
Restricted cash and escrow deposits5,503 5,017 
Deferred costs, net252,163 304,171 
Short-term deposits350,000 — 
Prepaid and other assets106,258 117,834 
Investments in unconsolidated subsidiaries18,803 9,062 
Assets associated with investment property held for sale74,657 — 
Total assets$7,129,734 $6,944,078 
Liabilities and Equity:  
Liabilities:
Mortgage and other indebtedness, net$3,239,928 $2,829,202 
Accounts payable and accrued expenses188,928 198,079 
Deferred revenue and other liabilities248,852 272,942 
Liabilities associated with investment property held for sale3,757 — 
Total liabilities3,681,465 3,300,223 
Commitments and contingencies  
Limited Partners’ interests in the Operating Partnership97,026 73,287 
Equity:  
Common shares, $0.01 par value, 490,000,000 shares authorized,
219,666,129 and 219,448,429 shares issued and outstanding at
September 30, 2024 and December 31, 2023, respectively
2,197 2,194 
Additional paid-in capital4,867,235 4,886,592 
Accumulated other comprehensive income37,704 52,435 
Accumulated deficit(1,557,767)(1,373,083)
Total shareholders’ equity3,349,369 3,568,138 
Noncontrolling interests1,874 2,430 
Total equity3,351,243 3,570,568 
Total liabilities and equity$7,129,734 $6,944,078 



Kite Realty Group Trust
Consolidated Statements of Operations
(dollars in thousands, except per share amounts)
(unaudited)
 Three Months Ended September 30,Nine Months Ended September 30,
 2024202320242023
Revenue:    
Rental income$204,934 $203,990 $616,583 $612,889 
Other property-related revenue1,864 2,172 6,321 5,971 
Fee income455 1,057 4,222 3,868 
Total revenue207,253 207,219 627,126 622,728 
Expenses:
Property operating27,756 27,644 84,401 82,190 
Real estate taxes25,220 26,453 78,247 80,333 
General, administrative and other13,259 13,917 39,009 41,800 
Depreciation and amortization96,656 105,930 296,326 323,463 
Impairment charges— 477 66,201 477 
Total expenses162,891 174,421 564,184 528,263 
Gain (loss) on sales of operating properties, net602 (5,972)(864)22,468 
Operating income44,964 26,826 62,078 116,933 
Other (expense) income:
Interest expense(31,640)(25,484)(92,985)(78,114)
Income tax expense of taxable REIT subsidiaries(35)(68)(325)(84)
Equity in loss of unconsolidated subsidiaries(607)(47)(1,201)(173)
Gain on sale of unconsolidated property, net— — 2,325 — 
Other income, net4,371 950 12,294 1,657 
Net income (loss)17,053 2,177 (17,814)40,219 
Net (income) loss attributable to noncontrolling interests(324)(107)61 (700)
Net income (loss) attributable to common shareholders$16,729 $2,070 $(17,753)$39,519 
Net income (loss) per common share – basic and diluted$0.08 $0.01 $(0.08)$0.18 
Weighted average common shares outstanding – basic219,665,836 219,381,248 219,596,590 219,323,570 
Weighted average common shares outstanding – diluted220,096,693 219,976,080 219,596,590 219,809,543 


Kite Realty Group Trust
Funds From Operations (“FFO”)(1)(2)
(dollars in thousands, except per share amounts)
(unaudited)
 Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Net income (loss)$17,053 $2,177 $(17,814)$40,219 
Less: net income attributable to noncontrolling interests in properties(63)(67)(204)(201)
Less/add: (gain) loss on sales of operating properties, net(602)5,972 864 (22,468)
Less: gain on sale of unconsolidated property, net— — (2,325)— 
Add: impairment charges— 477 66,201 477 
Add: depreciation and amortization of consolidated and unconsolidated entities,
net of noncontrolling interests
97,538 106,171 297,531 324,216 
FFO of the Operating Partnership(1)
113,926 114,730 344,253 342,243 
Less: Limited Partners’ interests in FFO
(1,971)(1,685)(5,739)(4,739)
FFO attributable to common shareholders(1)
$111,955 $113,045 $338,514 $337,504 
FFO, as defined by NAREIT, per share of the Operating Partnership – basic$0.51 $0.52 $1.54 $1.54 
FFO, as defined by NAREIT, per share of the Operating Partnership – diluted$0.51 $0.51 $1.54 $1.54 
Weighted average common shares outstanding – basic219,665,836 219,381,248 219,596,590 219,323,570 
Weighted average common shares outstanding – diluted219,979,239 219,976,080 219,861,005 219,809,543 
Weighted average common shares and units outstanding – basic223,529,610 222,649,706 223,323,641 222,409,769 
Weighted average common shares and units outstanding – diluted223,843,013 223,244,538 223,588,056 222,895,742 
FFO, as defined by NAREIT, per diluted share/unit
Net income (loss)$0.08 $0.01 $(0.08)$0.18 
Less: net income attributable to noncontrolling interests in properties0.00 0.00 0.00 0.00 
Less/add: (gain) loss on sales of operating properties, net0.00 0.03 0.00 (0.10)
Less: gain on sale of unconsolidated property, net0.00 0.00 (0.01)0.00 
Add: impairment charges0.00 0.00 0.30 0.00 
Add: depreciation and amortization of consolidated and unconsolidated entities,
net of noncontrolling interests
0.44 0.48 1.33 1.45 
FFO, as defined by NAREIT, of the Operating Partnership per diluted
share/unit(1)(2)
$0.51 $0.51 $1.54 $1.54 
(1)“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)Per share/unit amounts of components will not necessarily sum to the total due to rounding to the nearest cent.
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 employee severance, (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”) due to the recovery from the COVID-19 pandemic, which are not otherwise adjusted in the Company’s calculation of FFO.


In the FFO per share metrics, the Company excludes the dilutive effect of shares issuable upon the conversion of the Company’s 0.75% exchangeable senior notes maturing in April 2027 (the “Exchangeable Notes”) from the diluted weighted average number of common shares and units outstanding as a result of the Company’s capped call that was entered into concurrently with the issuance of the Exchangeable Notes. The potential dilutive effect of the Exchangeable Notes under the if-converted method is an increase to the diluted weighted average number of common shares and units of 117,454 common shares for the three months ended September 30, 2024. The capped call purchased by the Company offsets this dilution up to a capped price that is currently more than the Company’s share price. Both items have been excluded to reflect that there is no economic dilution to shareholders and unitholders based upon the Company’s current share price.
For purposes of the net income per share metrics, the conversion feature of the Exchangeable Notes and the capped call are required to be considered independently. Therefore, the capped call has been excluded from the calculation of net income per share as it is anti-dilutive.



Kite Realty Group Trust
Same Property Net Operating Income (“NOI”)
(dollars in thousands)
(unaudited)
 Three Months Ended September 30,Nine Months Ended September 30,
 20242023Change20242023Change
Number of properties in same property pool for the period(1)
177 177 177 177 
Leased percentage at period end95.0 %93.4 %95.0 %93.4 %
Economic occupancy percentage at period end92.3 %91.2 %92.3 %91.2 %
Economic occupancy percentage(2)
91.7 %91.5 %91.4 %92.2 %
Minimum rent$151,404 $147,385 $450,278 $440,314 
Tenant recoveries40,687 39,911 124,350 120,541 
Bad debt reserve(1,560)(328)(3,699)(2,519)
Other income, net2,385 2,726 7,170 7,419 
Total revenue192,916 189,694 578,099 565,755 
Property operating(23,408)(23,709)(73,493)(70,142)
Real estate taxes(24,227)(24,868)(74,861)(75,939)
Total expenses(47,635)(48,577)(148,354)(146,081)
Same Property NOI$145,281 $141,117 3.0 %$429,745 $419,674 2.4 %
Reconciliation of Same Property NOI to most
directly comparable GAAP measure:
Net operating income – same properties$145,281 $141,117 $429,745 $419,674 
Net operating income – non-same activity(3)
8,541 10,948 30,511 36,663 
Total property NOI153,822 152,065 1.2 %460,256 456,337 0.9 %
Other income, net4,184 1,892 14,990 5,268 
General, administrative and other(13,259)(13,917)(39,009)(41,800)
Impairment charges— (477)(66,201)(477)
Depreciation and amortization(96,656)(105,930)(296,326)(323,463)
Interest expense(31,640)(25,484)(92,985)(78,114)
Gain (loss) on sales of operating properties, net602 (5,972)(864)22,468 
Gain on sale of unconsolidated property, net— — 2,325 — 
Net (income) loss attributable to noncontrolling
interests
(324)(107)61 (700)
Net income (loss) attributable to common shareholders$16,729 $2,070 $(17,753)$39,519 
(1)Same Property NOI excludes the following: (i) properties acquired or placed in service during 2023 and 2024; (ii) The Landing at Tradition – Phase II, which was reclassified from active redevelopment into our operating portfolio in June 2023; (iii) our active development and redevelopment projects at Carillon medical office building, The Corner – IN, and One Loudoun Expansion; (iv) Hamilton Crossing Centre and Edwards Multiplex – Ontario, which were reclassified from our operating portfolio into redevelopment in June 2014 and March 2023, respectively; (v) properties sold or classified as held for sale during 2023 and 2024; and (vi) office properties.
(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)Includes non-cash activity across the portfolio as well as NOI from properties not included in the same property pool, including properties sold during both periods.
The Company uses property NOI, a non-GAAP financial measure, to evaluate the performance of our properties. 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. 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,


and (v) significant prior period expense recoveries and adjustments, if any. 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. Same Property NOI includes the results of properties that have been owned for the entire current and prior year reporting periods.
NOI and Same Property NOI should not, however, be considered as alternatives to net income (calculated in accordance with GAAP) as indicators 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 and nine months ended September 30, 2024, the same property pool excludes the following: (i) properties acquired or placed in service during 2023 and 2024; (ii) The Landing at Tradition – Phase II, which was reclassified from active redevelopment into our operating portfolio in June 2023; (iii) our active development and redevelopment projects at Carillon medical office building, The Corner – IN, and One Loudoun Expansion; (iv) Hamilton Crossing Centre and Edwards Multiplex – Ontario, which were reclassified from our operating portfolio into redevelopment in June 2014 and March 2023, respectively; (v) properties sold or classified as held for sale during 2023 and 2024; and (vi) office properties.



Kite Realty Group Trust
Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”)
(dollars in thousands)
(unaudited)
 Three Months Ended
September 30, 2024
Net income$17,053 
Depreciation and amortization96,656 
Interest expense31,640 
Income tax expense of taxable REIT subsidiaries35 
EBITDA145,384 
Unconsolidated Adjusted EBITDA597 
Gain on sales of operating properties, net(602)
Other income and expense, net(3,764)
Noncontrolling interests(193)
Adjusted EBITDA$141,422 
Annualized Adjusted EBITDA(1)
$565,688 
Company share of Net Debt:
Mortgage and other indebtedness, net$3,239,928 
Plus: Company share of unconsolidated joint venture debt45,353 
Less: Partner share of consolidated joint venture debt(2)
(9,813)
Less: debt discounts, premiums and issuance costs, net(10,451)
Company’s consolidated debt and share of unconsolidated debt3,265,017 
Less: cash, cash equivalents, restricted cash and short-term deposits(475,194)
Company share of Net Debt$2,789,823 
Net Debt to Adjusted EBITDA4.9x
(1)Represents Adjusted EBITDA for the three months ended September 30, 2024 (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.

Exhibit 99.2
suppcoverq32024.jpg


Kite Realty Group Trust
Quarterly Financial Supplement as of September 30, 2024
T A B L E O F C O N T E N T S
Earnings Press Release
Contact Information
Results Overview
Consolidated Balance Sheets
Consolidated Statements of Operations
Same Property Net Operating Income
Net Operating Income and Adjusted EBITDA by Quarter
Funds From Operations
Joint Venture Summary
Key Debt Metrics
Summary of Outstanding Debt
Maturity Schedule of Outstanding Debt
Acquisitions and Dispositions
Development and Redevelopment Projects
Geographic Diversification – Retail ABR by Region and State
Top 25 Tenants by ABR
Retail Leasing Spreads
Lease Expirations
Components of Net Asset Value
Non-GAAP Financial Measures


Kite Realty Group Trust | 30 South Meridian Street, Suite 1100 | Indianapolis, Indiana 46204 | 888.577.5600 | www.kiterealty.com


kitelogob.jpg
PRESS RELEASE
Contact Information: Kite Realty Group
Tyler Henshaw
SVP, Capital Markets & Investor Relations
317.713.7780
thenshaw@kiterealty.com
Kite Realty Group Reports Third Quarter 2024 Operating Results
Indianapolis, Indiana, October 30, 2024 – 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 third quarter ended September 30, 2024. For the quarters ended September 30, 2024 and 2023, net income attributable to common shareholders was $16.7 million, or $0.08 per diluted share, compared to $2.1 million, or $0.01 per diluted share, respectively. For the nine months ended September 30, 2024 and 2023, net loss attributable to common shareholders was $17.8 million, or $0.08 per diluted share, compared to net income of $39.5 million, or $0.18 per diluted share, respectively.
Company raises 2024 NAREIT FFO and Same Property NOI Guidance
Leased an all-time high volume of approximately 1.7 million square feet at 11.1% comparable
blended cash leasing spreads
Acquired a grocery-anchored center in the Atlanta MSA for $40.1 million
Issued $350 million of 4.95% senior unsecured notes due December 2031
“The KRG team continues to capitalize on the strong demand for space in our high-quality shopping centers and mixed-use projects, as demonstrated by our all-time high leasing volume,” said John A. Kite, Chairman and CEO. “As we enter the back half of our elevated lease-up phase, we look forward to allocating higher levels of free cash flow to select development projects and evaluating a variety of opportunities afforded by our below-target leverage and favorable cost of debt.”
Third Quarter 2024 Financial and Operational Results
▪Generated NAREIT FFO of the Operating Partnership of $113.9 million, or $0.51 per diluted share, for the third quarter and $344.3 million, or $1.54 per diluted share, year to date.
▪Same Property NOI increased by 3.0% for the third quarter and increased by 2.4% year to date.
▪Executed 205 new and renewal leases representing approximately 1.7 million square feet.
▪Blended cash leasing spreads of 11.1% on 155 comparable leases, including 24.9% on 35 comparable new leases, 11.9% on 59 comparable non-option renewals and 7.7% on 61 comparable option renewals.
▪Cash leasing spreads of 16.7% on a blended basis for comparable new and non-option renewal leases.
▪Operating retail portfolio ABR per square foot of $21.01 at September 30, 2024, a 2.2% increase year-over-year.
▪Retail portfolio leased percentage of 95.0% at September 30, 2024, a 20-basis point increase sequentially.
▪Portfolio leased-to-occupied spread at period end of 270 basis points, which represents $32.6 million of signed-not-open NOI.
i

Third Quarter 2024 Capital Allocation Activity
▪Acquired Parkside West Cobb (Atlanta MSA), a 141,627 square foot grocery-anchored center, for $40.1 million.
▪Activated the One Loudoun Expansion (Washington, D.C. MSA), which is expected to include approximately 86,000 square feet of retail and 33,000 square feet of office with estimated net project costs of $65.0 million to $75.0 million generating a 7.25% to 8.25% yield.
Third Quarter 2024 Balance Sheet Overview
▪As of September 30, 2024, the Company’s net debt to Adjusted EBITDA was 4.9x.
▪Issued $350 million of senior unsecured notes due December 15, 2031 at a fixed interest rate of 4.95%. The Company expects proceeds will be used to satisfy its $350 million senior unsecured notes that mature on March 15, 2025.
▪Subsequent to quarter end, closed on an amended $1.1 billion unsecured revolving credit facility and an amended $250 million unsecured term loan facility. The term of the unsecured revolving credit facility was extended three years and now matures on October 3, 2028 with the option to further extend such maturity date by either one 1-year period or up to two 6-month periods. In addition, the amended credit facility provides the Company with the ability to obtain more favorable pricing in certain circumstances when the Company’s total leverage ratio meets defined targets. The interest rate margin on the unsecured term loan facility was reduced to a rate of Adjusted Term SOFR plus a margin ranging from 0.75% to 1.60% (from 2.00% to 2.50% previously) or a base rate plus a margin ranging from 0.00% to 0.60%.
Dividend
On October 28, 2024, the Company’s Board of Trustees declared a fourth quarter 2024 dividend of $0.27 per common share, which represents a 3.8% sequential increase and an 8.0% year-over-year increase. The fourth quarter dividend will be paid on or about January 16, 2025, to shareholders of record as of January 9, 2025.
2024 Earnings Guidance
The Company now expects to generate net income attributable to common shareholders of $0.02 to $0.04 per diluted share in 2024. The Company is updating its 2024 NAREIT FFO guidance range to $2.06 to $2.08 per diluted share from $2.04 to $2.08 per diluted share, based, in part, on the following assumptions:
▪2024 Same Property NOI range of 2.5% to 3.0%, which represents a 25-basis point increase at the midpoint.
▪Full-year bad debt assumption of 0.6% to 0.8% of total revenues.
The following table reconciles the Company’s 2024 net income guidance range to the Company’s 2024 NAREIT FFO guidance range:
LowHigh
Net income$0.02 $0.04 
Depreciation and amortization1.75 1.75 
Realized gain on sale of unconsolidated property, net(0.01)(0.01)
Impairment charges0.30 0.30 
NAREIT FFO$2.06 $2.08 
Earnings Conference Call
Kite Realty Group will conduct a conference call to discuss its financial results on Thursday, October 31, 2024, at 11:00 a.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 Third Quarter 2024 Webcast. The dial-in registration link is: KRG Third Quarter 2024 Teleconference Registration. In addition, a webcast replay link will be available on KRG’s website.
ii

About Kite Realty Group
Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets. The combination of necessity-based grocery-anchored neighborhood and community centers, along with vibrant mixed-use assets makes the KRG portfolio an ideal mix for both retailers and consumers. Publicly listed since 2004, KRG has over 60 years of experience in developing, constructing and operating real estate. Using operational, investment, development, and redevelopment expertise, KRG continuously optimizes its portfolio to maximize value and return to shareholders. As of September 30, 2024, the Company owned interests in 179 U.S. open-air shopping centers and mixed-use assets, comprising approximately 27.7 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 (the “Securities Act”) 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 a potential economic slowdown or recession, 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; 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, causing costs to rise sharply and inventory to fall; risks related to our current geographical concentration of the Company’s 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 short-term or long-term changes in consumer behavior due to COVID-19 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; risks associated with cybersecurity attacks and the loss of confidential information and other business disruptions; other factors affecting the real estate industry generally; whether our current development projects and new development opportunities will benefit from our favorable cost of debt, below-target leverage and higher levels of free cash flow; 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, 2023, 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 Trust
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. Jefferies LLC
Senior Vice President, Capital Markets and IR Mr. Wes Golladay Ms. Linda Tsai
(317) 713-7780(216) 737-7510(212) 778-8011
thenshaw@kiterealty.com wgolladay@rwbaird.com ltsai@jefferies.com
  
Matt Hunt Bank of America/Merrill Lynch J.P. Morgan
Director, Capital Markets and IR Mr. Jeffrey Spector Mr. Michael W. Mueller/Mr. Hongliang Zhang
(317) 713-7646 (646) 855-1363 (212) 622-6689/(212) 622-6416
mhunt@kiterealty.com jeff.spector@bofa.com michael.w.mueller@jpmorgan.com/
  hongliang.zhang@jpmorgan.com
  
Transfer Agent BTIG KeyBanc Capital Markets
Broadridge Financial Solutions Mr. Michael Gorman Mr. Todd Thomas
Ms. Kristen Tartaglione (212) 738-6138 (917) 368-2286
2 Journal Square, 7th Floor mgorman@btig.com tthomas@keybanccm.com
Jersey City, NJ 07306  
(201) 714-8094Citigroup Global MarketsPiper Sandler
 Mr. Craig Mailman Mr. Alexander Goldfarb
 (212) 816-4471 (212) 466-7937
 craig.mailman@citi.com alexander.goldfarb@psc.com
Stock Specialist  
GTS Compass Point Research & Trading, LLC Raymond James
545 Madison Avenue, 15th Floor Mr. Floris van Dijkum Mr. RJ Milligan
New York, NY 10022  (646) 757-2621 (727) 567-2585
(212) 715-2830 fvandijkum@compasspointllc.com rjmilligan@raymondjames.com
  
 Green Street Wells Fargo
 Ms. Paulina Rojas Schmidt Mr. James Feldman/Ms. Dori Kesten
 (949) 640-8780 (212) 215-5328/(617) 603-4233
 projasschmidt@greenstreet.com james.feldman@wellsfargo.com/
  dori.kesten@wellsfargo.com
 
 
3rd Quarter 2024 Supplemental Financial and Operating Statistics
1

Kite Realty Group Trust
Results Overview
(dollars in thousands, except per share and per square foot amounts)
Three Months Ended September 30,Nine Months Ended September 30,
Summary Financial Results2024202320242023
Total revenue (page 4)$207,253 $207,219 $627,126 $622,728 
Net income (loss) attributable to common shareholders (page 4)$16,729 $2,070 $(17,753)$39,519 
Net income (loss) per diluted share (page 4)$0.08 $0.01 $(0.08)$0.18 
Net operating income (NOI) (page 6)$153,822 $152,065 $460,256 $456,337 
Adjusted EBITDA (page 6)$141,018 $139,205 $425,469 $418,405 
NAREIT Funds From Operations (FFO) (page 7)$113,926 $114,730 $344,253 $342,243 
NAREIT FFO per diluted share (page 7)$0.51 $0.51 $1.54 $1.54 
Dividend payout ratio (as % of NAREIT FFO)49 %47 %49 %47 %

Three Months Ended
Summary Operating and Financial RatiosSeptember 30,
2024		June 30,
2024		March 31,
2024		December 31,
2023		September 30,
2023
NOI margin (page 6)74.5 %73.8 %73.8 %76.2 %73.9 %
NOI margin – retail (page 6)75.2 %74.3 %74.4 %76.5 %74.4 %
Same property NOI performance (page 5)3.0 %1.8 %1.8 %2.8 %4.7 %
Total property NOI performance (page 5)1.2 %0.1 %1.3 %2.0 %3.1 %
Net debt to Adjusted EBITDA, current quarter (page 9)4.9x4.8x5.1x5.1x5.1x
Recovery ratio of retail operating properties (page 6)91.2 %91.6 %91.6 %92.2 %90.8 %
Recovery ratio of consolidated portfolio (page 6)86.6 %87.8 %86.9 %87.4 %85.9 %
Outstanding Classes of Stock
Common shares and units outstanding (page 18)223,626,166 223,361,957 223,310,866 222,961,297 222,822,226 
Summary Portfolio Statistics
Number of properties
Operating retail (page 14)(1)
179 178 180 180 180 
Office and other components11 11 11 11 11 
Development and redevelopment projects (page 13)3 2 2 2 2 
Owned retail operating gross leasable area (GLA)(2) (page 14)
27.7 M27.6 M28.1 M28.1 M28.3 M
Owned office GLA1.4 M1.4 M1.4 M1.4 M1.4 M
Number of multifamily units(3)(4)
1,405 1,405 1,405 1,672 1,672 
Percent leased – total94.6 %94.3 %93.8 %93.7 %93.3 %
Percent leased – retail95.0 %94.8 %94.0 %93.9 %93.4 %
Anchor97.0 %96.8 %95.9 %95.5 %95.1 %
Small shop91.2 %90.8 %90.5 %90.8 %90.2 %
Annualized base rent (ABR) per square foot$21.01 $20.90 $20.84 $20.70 $20.56 
Total new and renewal lease GLA (page 16)1,651,986 1,153,766 968,681 1,290,090 1,398,695 
New lease cash rent spread (page 16)24.9 %34.8 %48.1 %43.0 %36.0 %
Non-option renewal lease cash rent spread (page 16)11.9 %14.3 %12.2 %9.2 %17.8 %
Option renewal lease cash rent spread (page 16)7.7 %6.0 %5.3 %7.6 %8.3 %
Total new and renewal lease cash rent spread (page 16)11.1 %15.6 %12.8 %14.5 %14.2 %
2024 GuidanceCurrent
(as of 10/30/24)		Previous
(as of 7/30/24)		Original
(as of 2/13/24)
NAREIT FFO per diluted share$2.06 to $2.08$2.04 to $2.08$2.00 to $2.06
Credit Ratings and Outlook
Fitch RatingsBBB / Positive
Moody's Investors ServicesBaa2 / Stable
Standard & Poor's Rating ServicesBBB / Stable
(1)Excludes one operating retail property classified as held for sale as of September 30, 2024.
(2)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.
(3)Represents the number of multifamily units that the Company has an economic interest in.
(4)On January 31, 2024, the joint venture that owned Glendale Center Apartments in the Indianapolis MSA sold the 267-unit property to a third party.
3rd Quarter 2024 Supplemental Financial and Operating Statistics
2

Kite Realty Group Trust
Consolidated Balance Sheets
(dollars in thousands)
(unaudited)
September 30,
2024		December 31,
2023
Assets:  
Investment properties, at cost$7,607,849 $7,740,061 
Less: accumulated depreciation(1,516,840)(1,381,770)
Net investment properties6,091,009 6,358,291 
Cash and cash equivalents117,530 36,413 
Tenant and other receivables, including accrued straight-line rent
of $65,334 and $55,482, respectively
113,811 113,290 
Restricted cash and escrow deposits5,503 5,017 
Deferred costs, net252,163 304,171 
Short-term deposits350,000 — 
Prepaid and other assets106,258 117,834 
Investments in unconsolidated subsidiaries18,803 9,062 
Assets associated with investment property held for sale74,657 — 
Total assets$7,129,734 $6,944,078 
Liabilities and Equity:  
Liabilities:
Mortgage and other indebtedness, net$3,239,928 $2,829,202 
Accounts payable and accrued expenses188,928 198,079 
Deferred revenue and other liabilities248,852 272,942 
Liabilities associated with investment property held for sale3,757 — 
Total liabilities3,681,465 3,300,223 
Commitments and contingencies  
Limited Partners’ interests in the Operating Partnership
97,026 73,287 
Equity:  
Common shares, $0.01 par value, 490,000,000 shares authorized,
219,666,129 and 219,448,429 shares issued and outstanding at
September 30, 2024 and December 31, 2023, respectively
2,197 2,194 
Additional paid-in capital4,867,235 4,886,592 
Accumulated other comprehensive income37,704 52,435 
Accumulated deficit(1,557,767)(1,373,083)
Total shareholders’ equity3,349,369 3,568,138 
Noncontrolling interests1,874 2,430 
Total equity3,351,243 3,570,568 
Total liabilities and equity$7,129,734 $6,944,078 

3rd Quarter 2024 Supplemental Financial and Operating Statistics
3

Kite Realty Group Trust
Consolidated Statements of Operations
(dollars in thousands, except per share amounts)
(unaudited)
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202320242023
Revenue:    
Rental income$204,934 $203,990 $616,583 $612,889 
Other property-related revenue1,864 2,172 6,321 5,971 
Fee income455 1,057 4,222 3,868 
Total revenue207,253 207,219 627,126 622,728 
Expenses:  
Property operating27,756 27,644 84,401 82,190 
Real estate taxes25,220 26,453 78,247 80,333 
General, administrative and other13,259 13,917 39,009 41,800 
Depreciation and amortization96,656 105,930 296,326 323,463 
Impairment charges— 477 66,201 477 
Total expenses162,891 174,421 564,184 528,263 
Gain (loss) on sales of operating properties, net602 (5,972)(864)22,468 
Operating income44,964 26,826 62,078 116,933 
Other (expense) income:
Interest expense(31,640)(25,484)(92,985)(78,114)
Income tax expense of taxable REIT subsidiaries(35)(68)(325)(84)
Equity in loss of unconsolidated subsidiaries(607)(47)(1,201)(173)
Gain on sale of unconsolidated property, net— — 2,325 — 
Other income, net4,371 950 12,294 1,657 
Net income (loss)17,053 2,177 (17,814)40,219 
Net (income) loss attributable to noncontrolling interests(324)(107)61 (700)
Net income (loss) attributable to common shareholders$16,729 $2,070 $(17,753)$39,519 
Net income (loss) per common share – basic and diluted$0.08 $0.01 $(0.08)$0.18 
Weighted average common shares outstanding – basic219,665,836 219,381,248 219,596,590 219,323,570 
Weighted average common shares outstanding – diluted220,096,693 219,976,080 219,596,590 219,809,543 
3rd Quarter 2024 Supplemental Financial and Operating Statistics
4


Kite Realty Group Trust
Same Property Net Operating Income (“NOI”)
(dollars in thousands)
(unaudited)
 Three Months Ended September 30,Nine Months Ended September 30,
 20242023Change20242023Change
Number of properties in same property pool for the period(1)
177 177  177 177 
Leased percentage at period end95.0 %93.4 %95.0 %93.4 %
Economic occupancy percentage at period end92.3 %91.2 %92.3 %91.2 %
Economic occupancy percentage(2)
91.7 %91.5 %91.4 %92.2 %
Minimum rent$151,404 $147,385 $450,278 $440,314 
Tenant recoveries40,687 39,911 124,350 120,541 
Bad debt reserve(1,560)(328)(3,699)(2,519)
Other income, net2,385 2,726 7,170 7,419 
Total revenue192,916 189,694 578,099 565,755 
Property operating(23,408)(23,709)(73,493)(70,142)
Real estate taxes(24,227)(24,868)(74,861)(75,939)
Total expenses(47,635)(48,577)(148,354)(146,081)
Same Property NOI$145,281 $141,117 3.0 %$429,745 $419,674 2.4 %
Reconciliation of Same Property NOI to most
directly comparable GAAP measure:
Net operating income – same properties$145,281 $141,117 $429,745 $419,674 
Net operating income – non-same activity(3)
8,541 10,948 30,511 36,663 
Total property NOI153,822 152,065 1.2 %460,256 456,337 0.9 %
Other income, net4,184 1,892 14,990 5,268 
General, administrative and other(13,259)(13,917)(39,009)(41,800)
Impairment charges— (477)(66,201)(477)
Depreciation and amortization(96,656)(105,930)(296,326)(323,463)
Interest expense(31,640)(25,484)(92,985)(78,114)
Gain (loss) on sales of operating properties, net602 (5,972)(864)22,468 
Gain on sale of unconsolidated property, net— — 2,325 — 
Net (income) loss attributable to noncontrolling
interests
(324)(107)61 (700)
Net income (loss) attributable to common shareholders$16,729 $2,070 $(17,753)$39,519 
(1)Same Property NOI excludes the following:
▪properties acquired or placed in service during 2023 and 2024;
▪The Landing at Tradition – Phase II, which was reclassified from active redevelopment into our operating portfolio in June 2023;
▪our active development and redevelopment projects at Carillon medical office building, The Corner – IN, and 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 2023 and 2024; and
▪office properties.
(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)Includes non-cash activity across the portfolio as well as NOI from properties not included in the same property pool, including properties sold during both periods.
3rd Quarter 2024 Supplemental Financial and Operating Statistics
5


Kite Realty Group Trust
Net Operating Income and Adjusted EBITDA by Quarter
(dollars in thousands)
(unaudited)
 Three Months Ended
 September 30,
2024		June 30,
2024		March 31,
2024		December 31,
2023		September 30,
2023
Revenue:      
Minimum rent(1)
$151,937 $151,116 $150,598 $147,773 $150,126 
Minimum rent – ground leases10,758 10,492 10,447 10,482 10,010 
Tenant reimbursements42,453 44,422 43,577 37,693 42,280 
Bad debt reserve(1,468)(1,544)(589)(1,452)(219)
Other property-related revenue(2)
1,402 2,701 841 2,107 1,758 
Overage rent1,253 1,350 1,780 2,761 1,793 
Total revenue206,335 208,537 206,654 199,364 205,748 
Expenses:     
Property operating – recoverable(3)
23,961 24,257 23,763 21,218 22,905 
Property operating – non-recoverable(3)
3,469 4,005 4,009 4,297 4,435 
Real estate taxes25,083 26,350 26,373 21,932 26,343 
Total expenses52,513 54,612 54,145 47,447 53,683 
NOI153,822 153,925 152,509 151,917 152,065 
Other (expense) income:     
General, administrative and other(13,259)(12,966)(12,784)(14,342)(13,917)
Fee income455 3,452 315 498 1,057 
Total other (expense) income(12,804)(9,514)(12,469)(13,844)(12,860)
Adjusted EBITDA141,018 144,411 140,040 138,073 139,205 
Impairment charges— (66,201)— — (477)
Depreciation and amortization(96,656)(99,291)(100,379)(102,898)(105,930)
Interest expense(31,640)(30,981)(30,364)(27,235)(25,484)
Equity in (loss) earnings of unconsolidated subsidiaries(607)(174)(420)206 (47)
Gain on sale of unconsolidated property, net— — 2,325 — — 
Income tax expense of taxable REIT subsidiaries(35)(132)(158)(449)(68)
Other income, net4,371 4,295 3,628 334 950 
Gain (loss) on sales of operating properties, net602 (1,230)(236)133 (5,972)
Net income (loss)17,053 (49,303)14,436 8,164 2,177 
Less: net (income) loss attributable to noncontrolling interests
(324)665 (280)(185)(107)
Net income (loss) attributable to common shareholders$16,729 $(48,638)$14,156 $7,979 $2,070 
NOI/Revenue – Retail properties75.2 %74.3 %74.4 %76.5 %74.4 %
NOI/Revenue74.5 %73.8 %73.8 %76.2 %73.9 %
Recovery Ratios(4)
        – Retail properties91.2 %91.6 %91.6 %92.2 %90.8 %
        – Consolidated86.6 %87.8 %86.9 %87.4 %85.9 %
(1)Minimum rent includes $0.8 million, $0.8 million, $2.0 million, $59,000, and $262,000 of lease termination income for the three months ended September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023, and September 30, 2023, respectively.
(2)Other property-related revenue also includes the net operating results of Eddy Street Parking Garage and Union Station Parking Garage.
(3)Recoverable expenses include recurring G&A expense of $3.9 million allocable to the property operations in the three months ended September 30, 2024, a portion of which is recoverable. Non-recoverable expenses primarily include ground rent, professional fees, and marketing costs.
(4)“Recovery Ratios” are computed by dividing tenant reimbursements by the sum of recoverable property operating expense and real estate tax expense.
3rd Quarter 2024 Supplemental Financial and Operating Statistics
6



Kite Realty Group Trust
Funds From Operations (“FFO”)(1)(2)
(dollars in thousands, except per share amounts)
(unaudited)
 Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Net income (loss)$17,053 $2,177 $(17,814)$40,219 
Less: net income attributable to noncontrolling interests in properties(63)(67)(204)(201)
Less/add: (gain) loss on sales of operating properties, net(602)5,972 864 (22,468)
Less: gain on sale of unconsolidated property, net— — (2,325)— 
Add: impairment charges— 477 66,201 477 
Add: depreciation and amortization of consolidated and unconsolidated entities,
net of noncontrolling interests
97,538 106,171 297,531 324,216 
FFO of the Operating Partnership(1)
113,926 114,730 344,253 342,243 
Less: Limited Partners’ interests in FFO
(1,971)(1,685)(5,739)(4,739)
FFO attributable to common shareholders(1)
$111,955 $113,045 $338,514 $337,504 
FFO, as defined by NAREIT, per share of the Operating Partnership – basic$0.51 $0.52 $1.54 $1.54 
FFO, as defined by NAREIT, per share of the Operating Partnership – diluted$0.51 $0.51 $1.54 $1.54 
Weighted average common shares outstanding – basic219,665,836 219,381,248 219,596,590 219,323,570 
Weighted average common shares outstanding – diluted219,979,239 219,976,080 219,861,005 219,809,543 
Weighted average common shares and units outstanding – basic223,529,610 222,649,706 223,323,641 222,409,769 
Weighted average common shares and units outstanding – diluted223,843,013 223,244,538 223,588,056 222,895,742 
FFO, as defined by NAREIT, per diluted share/unit
Net income (loss)$0.08 $0.01 $(0.08)$0.18 
Less: net income attributable to noncontrolling interests in properties0.00 0.00 0.00 0.00 
Less/add: (gain) loss on sales of operating properties, net0.00 0.03 0.00 (0.10)
Less: gain on sale of unconsolidated property, net0.00 0.00 (0.01)0.00 
Add: impairment charges0.00 0.00 0.30 0.00 
Add: depreciation and amortization of consolidated and unconsolidated entities,
net of noncontrolling interests
0.44 0.48 1.33 1.45 
FFO, as defined by NAREIT, of the Operating Partnership per diluted
share/unit(1)(2)
$0.51 $0.51 $1.54 $1.54 
Reconciliation of NAREIT FFO to Adjusted Funds From Operations (“AFFO”)
FFO of the Operating Partnership$113,926 $114,730 $344,253 $342,243 
Add:
Amortization of deferred financing costs1,062 903 2,978 2,685 
Non-cash compensation expense and other2,816 2,861 8,444 8,474 
Less:
Straight-line rent – minimum rent and common area maintenance3,286 2,771 10,062 9,733 
Market rent amortization income2,265 3,854 6,922 9,319 
Amortization of debt discounts, premiums and hedge instruments3,091 4,994 10,581 14,992 
Maintenance capital expenditures6,085 5,318 18,750 13,355 
Tenant-related capital expenditures(3)
30,090 26,091 73,734 65,399 
Total Recurring AFFO of the Operating Partnership$72,987 $75,466 $235,626 $240,604 
(1)“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)Per share/unit amounts of components will not necessarily sum to the total due to rounding to the nearest cent.
(3)Excludes landlord work, tenant improvements and leasing commissions related to development and redevelopment projects.
3rd Quarter 2024 Supplemental Financial and Operating Statistics
7


Kite Realty Group Trust
Joint Venture Summary as of September 30, 2024
(dollars in thousands)
Consolidated Investments
InvestmentsTotal Debt
Partner Economic
Ownership Interest(1)
Partner
Share of Debt		Partner Share
of Annual EBITDA
Delray Marketplace$15,200 2 %$304 $— 
One Loudoun – Pads G&H Residential95,095 10 %9,509 772 
Total$110,295 $9,813 $772 

 
Unconsolidated Investments 
InvestmentsRetail GLAMultifamily
Units		Total DebtKRG Economic
Ownership Interest		KRG Share
of Debt		KRG
Investment		KRG Share
of Quarterly
Adjusted EBITDA		KRG Share
of Quarterly
Adjusted EBITDA
Annualized
Three Property Retail
Portfolio
416,582 — $51,890 20 %$10,378 $5,929 $292 $1,168 
Glendale Center
Apartments(2)
— — — 11.5 %— 539 — — 
Embassy Suites at Eddy
Street Commons(3)
— — — 35 %— 9,651 196 784 
The Corner (development)24,000 285 69,950 50 %34,975 184 75 300 
Other investments— — — — %— 2,500 34 136 
Total440,582 285 $121,840 $45,353 $18,803 $597 $2,388 
(1)Economic ownership % represents the partner’s share of cash flow.
(2)On January 31, 2024, the joint venture sold the property to a third party. The Company recorded a $2.3 million gain on sale of unconsolidated property representing its 11.5% share of the gain on sale.
(3)In July 2024, the joint venture repaid the outstanding debt with the Company contributing $10.2 million representing its 35% share of the debt repaid.
3rd Quarter 2024 Supplemental Financial and Operating Statistics
8


Kite Realty Group Trust
Key Debt Metrics as of September 30, 2024
(dollars in thousands)
Senior Unsecured Notes Covenants
September 30,
2024
Debt Covenant
Threshold(1)
Total debt to undepreciated assets36%<60%
Secured debt to undepreciated assets2%<40%
Undepreciated unencumbered assets to unsecured debt287%>150%
Debt service coverage4.7x>1.5x
Unsecured Credit Facility Covenants
September 30,
2024
Debt Covenant
Threshold(1)
Maximum leverage33%<60%
Minimum fixed charge coverage4.1x>1.5x
Secured indebtedness2.3%<45%
Unsecured debt interest coverage4.3x>1.75x
Unsecured leverage32%<60%
Senior Unsecured Debt Ratings
Fitch RatingsBBB/Positive
Moody's Investors ServiceBaa2/Stable
Standard & Poor's Rating ServicesBBB/Stable
Liquidity
Cash, cash equivalents and short-term deposits$467,530 
Availability under unsecured credit facility1,100,000 
$1,567,530 
Unencumbered NOI as a % of Total NOI95 %
(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 $3,239,928 
Plus: Company share of unconsolidated joint venture debt45,353 
Less: Partner share of consolidated joint venture debt(9,813)
Less: debt discounts, premiums and issuance costs, net(10,451)
Company's consolidated debt and share of unconsolidated debt3,265,017 
Less: cash, cash equivalents, restricted cash and short-term deposits(475,194)
Company share of Net Debt $2,789,823 
Q3 2024 Adjusted EBITDA, Annualized:  
–  Consolidated Adjusted EBITDA$564,072 
–  Unconsolidated Adjusted EBITDA(2)
2,388  
– Minority interest Adjusted EBITDA(2)
(772)565,688 
Ratio of Company share of Net Debt to Adjusted EBITDA  4.9x
(2)See page 8 for details.
3rd Quarter 2024 Supplemental Financial and Operating Statistics
9

Kite Realty Group Trust
Summary of Outstanding Debt as of September 30, 2024
(dollars in thousands)
Total Outstanding DebtAmount
Outstanding		RatioWeighted Average
Interest Rate		Weighted
Average Years to Maturity
Fixed rate debt(1)
$3,059,277 94 %4.18 %4.6 
Variable rate debt(2)
170,200 5 %7.94 %2.0 
Debt discounts, premiums and issuance costs, net10,451 N/AN/AN/A
Total consolidated debt3,239,928 99 %4.38 %4.5 
KRG share of unconsolidated debt 45,353 1 %6.83 %4.2 
Total$3,285,281 100 %4.42 %4.5 
Schedule of Maturities by Year
Secured Debt 
Scheduled
Principal Payments		Term
Maturities		Unsecured
Debt		Total
Consolidated Debt		Total
Unconsolidated Debt		Total Debt
Outstanding
2024$1,292 $— $— $1,292 $— $1,292 
20255,248 — 430,000 435,248 — 435,248 
20264,581 — 550,000 554,581 — 554,581 
20273,120 10,600 250,000 263,720 — 263,720 
20283,757 — 350,000 
(3)
353,757 10,378 364,135 
2029 and beyond28,091 92,788 1,500,000 1,620,879 34,975 1,655,854 
Debt discounts, premiums and issuance costs, net— 942 9,509 10,451 — 10,451 
Total$46,089 $104,330 $3,089,509 $3,239,928 $45,353 $3,285,281 
(1)Fixed rate debt includes the portion of variable rate debt that has been hedged by interest rate swaps. As of September 30, 2024, $700.0 million in variable rate debt is hedged to a fixed rate for a weighted average of 1.1 years.
(2)Variable rate debt includes the portion of fixed rate debt that has been hedged by interest rate swaps. As of September 30, 2024, $155.0 million in fixed rate debt is hedged to a floating rate for a weighted average of 0.9 years.
(3)Assumes the Company exercises three one-year options to extend the maturity date of the $250.0 million unsecured term loan to 2028.
chart-83b7413f89fb415bb6e.jpg
(a)Proceeds from the August 2024 issuance of $350.0 million aggregate principal amount of 4.95% senior unsecured notes due 2031 are expected to be used to satisfy the $350.0 million senior unsecured notes due 2025.
3rd Quarter 2024 Supplemental Financial and Operating Statistics
10

Kite Realty Group Trust
Maturity Schedule of Outstanding Debt as of September 30, 2024
(dollars in thousands)
Description
Interest Rate(1)
Maturity
Date		Balance as of
September 30, 2024		% of Total
Outstanding
Senior Unsecured Notes4.00%3/15/2025$350,000 
Senior Unsecured Notes(2)
SOFR + 3659/10/202580,000 
2025 Debt Maturities4.74%430,000 13 %
Unsecured Term Loan(3)
2.73%7/17/2026150,000 
Senior Unsecured Notes4.08%9/30/2026100,000 
Senior Unsecured Notes4.00%10/1/2026300,000 
2026 Debt Maturities3.67%550,000 17 %
Unsecured Credit Facility(4)
SOFR + 1151/8/2027— 
Senior Unsecured Exchangeable Notes0.75%4/1/2027175,000 
Northgate North4.50%6/1/202721,854 
Delray Marketplace(5)
BSBY + 2158/4/202715,200 
Senior Unsecured Notes(2)
SOFR + 3759/10/202775,000 
2027 Debt Maturities3.28%287,054 9 %
Unsecured Term Loan(6)
5.09%10/24/2028250,000 
Senior Unsecured Notes4.24%12/28/2028100,000 
2028 Debt Maturities4.85%350,000 11 %
Senior Unsecured Notes4.82%6/28/2029100,000 
Unsecured Term Loan(7)
3.82%7/29/2029300,000 
Rampart Commons5.73%6/10/20305,894 
Senior Unsecured Notes4.75%9/15/2030400,000 
The Shoppes at Union Hill3.75%6/1/20318,198 
Senior Unsecured Notes4.95%12/15/2031350,000 
Nora Plaza Shops3.80%2/1/20323,236 
One Loudoun – Pads G&H Residential5.36%5/1/203395,095 
Senior Unsecured Notes(8)
4.60%3/1/2034350,000 
2029 and beyond Debt Maturities4.62%1,612,423 49 %
Debt discounts, premiums and issuance costs, net 10,451  
Total debt per consolidated balance sheet4.38% $3,239,928 99 %
KRG share of unconsolidated debt
Three Property Retail Portfolio4.09%7/1/2028$10,378 
The Corner (development)(9)
SOFR + 2862/17/202934,975 
Total KRG share of unconsolidated debt6.83%45,353 1 %
Total consolidated and KRG share of unconsolidated debt4.42%$3,285,281 
(1)At September 30, 2024, daily SOFR was 4.96%, one-month SOFR was 4.85%, three-month SOFR was 4.33%, and one-month BSBY was 4.87%.
(2)Notes due 2025 are hedged to a floating rate until September 10, 2025. Notes due 2027 are hedged to a floating rate until September 10, 2025 and revert back to a fixed rate of 4.57% until maturity in 2027.
(3)Term loan is hedged to a fixed rate of 1.68% plus a credit spread of 1.05% based on the Company’s current credit rating.
(4)Assumes the Company exercises its option to extend the maturity date by one year to 2027. Subsequent to September 30, 2024, the Company entered into the third amendment to its sixth amended and restated credit agreement that extended the maturity date of the unsecured revolving line of credit to October 3, 2028 with the option to extend such maturity date for either one one-year period or two six-month periods at the Company’s election, subject to the payment of an extension fee and certain other customary conditions. The third amendment also includes the ability to obtain more favorable pricing in certain circumstances and an adjustment to the sustainability-linked pricing provisions.
(5)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.
(6)Assumes the Company exercises three one-year options to extend the maturity date to 2028. Term loan is hedged to a fixed rate of 5.09% until the initial maturity of October 24, 2025. Term loan interest rate reverts back to a floating rate of SOFR plus 2.10% beyond the initial maturity date. Subsequent to September 30, 2024, the Company entered into the second amendment to the term loan agreement that extended the maturity date of the term loan to October 24, 2027, with the option to extend such maturity date by one one-year period at the Company’s election, subject to the payment of an extension fee and certain other customary conditions. The second amendment also includes a reduction in the interest rate margin, the ability to obtain more favorable pricing in certain circumstances, and sustainability-linked pricing provisions.
(7)Term loan is hedged to a fixed rate of 2.47% through August 1, 2025. Term loan interest rate reverts back to a floating rate of SOFR from August 1, 2025 to the maturity date of July 29, 2029. In addition to the indicated rate, a credit spread of 1.35% is applicable across both time periods based on the Company’s current credit rating.
(8)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.
(9)The Corner (development) includes three loans with varying rates and maturity dates. As of September 30, 2024, the loans had a weighted average interest rate of 7.64% and a majority of the amount outstanding was at a floating rate. The maturity date shown is the weighted average maturity date as of September 30, 2024.
3rd Quarter 2024 Supplemental Financial and Operating Statistics
11

Kite Realty Group Trust
Acquisitions and Dispositions
(dollars in thousands)
Acquisitions
Property NameAcquisition DateMetropolitan
Statistical Area (“MSA”)		Property TypeGLAAcquisition Price
Parkside West CobbAugust 30, 2024AtlantaMulti-tenant retail141,627 $40,125 



Dispositions
Property NameDisposition DateMSAProperty TypeGLASales Price
Ashland & RooseveltMay 31, 2024ChicagoMulti-tenant retail104,176 $30,600 
3rd Quarter 2024 Supplemental Financial and Operating Statistics
12

Kite Realty Group Trust
Development and Redevelopment Projects
(dollars in thousands)
ProjectMSAKRG
Ownership %
Projected
Completion Date(1)
Total
Commercial 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
Carillon MOB(3)
Washington, D.C./Baltimore100%Q4 2024126,000 — $59,700 $59,700 $24,500 $3.5M–$4.0M$2.2M–$2.7M
The Corner – IN(4)
Indianapolis, IN50%Q1 202524,000 285 31,900 — — $1.7M–$1.9M$1.7M–$1.9M
One Loudoun Expansion(5)
Washington, D.C./Baltimore100%Q4 2026119,000 — $81.0M–$91.0M$65.0M–$75.0M$65.0M–$75.0M$4.7M–$6.2M$3.2M–$4.7M
Total269,000 285 $172.6M–$182.6M$124.7M–$134.7M$89.5M–$99.5M$9.9M–$12.1M$7.1M–$9.3M

Future Opportunities(6)
ProjectMSAProject Description
Hamilton Crossing Centre – Phase IIIndianapolis, INAddition of mixed-use (multifamily, office and retail) components adjacent to the Republic Airways headquarters.
CarillonWashington, D.C./BaltimorePotential of 1.2 million square feet of commercial GLA and 3,000 multifamily units for additional expansion.
One Loudoun HotelWashington, D.C./BaltimorePotential for 1.7 million square feet remaining following the planned approximately 170-room hotel.
One Loudoun ResidentialWashington, D.C./BaltimorePotential for approximately 1,300 multifamily units remaining following the planned 400 additional multifamily units.
Main Street PromenadeChicago, ILPotential of 16,000 square feet of commercial GLA for additional expansion.
Downtown CrownWashington, D.C./BaltimorePotential of 42,000 square feet of commercial GLA for additional expansion.
Edwards Multiplex – OntarioLos Angeles, CAPotential redevelopment of existing Regal Theatre.
Glendale Town CenterIndianapolis, INPotential of 200 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.
(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)Total project costs and KRG’s equity requirement represent costs to KRG post-merger and exclude any costs spent to date prior to the merger with RPAI.
(4)The Company does not have any equity requirements related to this development. Total project costs are at KRG’s share and are net of KRG’s share of a $13.5 million TIF.
(5)KRG’s equity requirement is shown net of 2 over 2 land sale net proceeds of $15.9 million.
(6)These opportunities are deemed potential at this time and are subject to various contingencies, many of which could be beyond the Company’s control.
3rd Quarter 2024 Supplemental Financial and Operating Statistics
13

Kite Realty Group Trust
Geographic Diversification – Retail ABR by Region and State as of September 30, 2024
(dollars in thousands)
Region/State
Number of
Properties(1)
Owned
GLA/NRA(2)
Total
Weighted
Retail ABR(3)
% of
Weighted
Retail ABR(3)
South
Texas44 7,493 $156,951 26.7 %
Florida30 3,510 68,896 11.7 %
Maryland8 1,411 34,818 5.9 %
North Carolina8 1,535 33,551 5.7 %
Virginia7 1,130 32,148 5.5 %
Georgia11 1,849 30,030 5.1 %
Tennessee3 580 8,988 1.5 %
Oklahoma3 505 8,229 1.4 %
South Carolina2 262 3,653 0.6 %
Total South116 18,275 377,264 64.1 %
West
Washington10 1,656 31,181 5.3 %
Nevada5 841 28,294 4.8 %
Arizona5 715 15,708 2.7 %
California2 530 13,056 2.2 %
Utah2 388 8,171 1.4 %
Total West24 4,130 96,410 16.4 %
Midwest
Indiana15 1,600 31,868 5.4 %
Illinois7 1,059 22,561 3.8 %
Michigan1 308 6,627 1.1 %
Missouri1 453 4,383 0.8 %
Ohio1 236 2,152 0.4 %
Total Midwest25 3,656 67,591 11.5 %
Northeast
New York7 713 25,595 4.4 %
New Jersey4 340 11,322 1.9 %
Massachusetts1 264 4,173 0.7 %
Connecticut1 206 3,844 0.7 %
Pennsylvania1 136 1,982 0.3 %
Total Northeast14 1,659 46,916 8.0 %
Total(4)
179 27,720 $588,181 100.0 %
(1)Number of properties represents consolidated and unconsolidated retail properties.
(2)Owned GLA/NRA represents gross leasable area owned by the Company and excludes the square footage of development and redevelopment projects.
(3)Total weighted retail ABR and percent of weighted retail 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 September 30, 2024.
3rd Quarter 2024 Supplemental Financial and Operating Statistics
14

Kite Realty Group Trust
Top 25 Tenants by ABR as of September 30, 2024
(dollars in thousands, except per square foot data)
The following table includes the Company’s retail operating properties.
Credit Ratings
TenantPrimary DBA/
Number of Stores
Number
of Stores(1)
Total
Leased
GLA/NRA(2)
ABR(3)
% of
Weighted ABR(4)
S&PMoody’s
1The TJX Companies, Inc.T.J. Maxx (18), Marshalls (13), HomeGoods (11), Homesense (4), T.J. Maxx & HomeGoods combined (2), Sierra (2)50 1,450 $16,547 2.8 %AA2
2Best Buy Co., Inc.Best Buy (15), Pacific Sales (1)16 633 11,447 1.9 %BBB+A3
3Ross Stores, Inc.Ross Dress for Less (32), dd’s DISCOUNTS (1)33 937 11,333 1.9 %BBB+A2
4PetSmart, Inc.32 657 10,979 1.9 %B+B1
5Michaels Stores, Inc.Michaels28 631 8,346 1.4 %N/AN/A
6Gap Inc.Old Navy (25), The Gap (3), Athleta (3), Banana Republic (2)33 448 8,083 1.4 %BBBa3
7Dick’s Sporting Goods, Inc.Dick’s Sporting Goods (12), Golf Galaxy (1)13 625 7,956 1.4 %BBBBaa2
8Publix Super Markets, Inc.14 672 6,935 1.2 %N/AN/A
9Ulta Beauty, Inc.28 286 6,302 1.1 %N/AN/A
10Total Wine & More15 355 6,151 1.0 %N/AN/A
11The Kroger Co.Kroger (6), Harris Teeter (2),
QFC (1), Smith’s (1)		10 355 6,041 1.0 %BBBBaa1
12BJ’s Wholesale Club, Inc.3 115 5,860 1.0 %BB+N/A
13Lowe’s Companies, Inc.6 — 5,838 1.0 %BBB+Baa1
14Fitness International, LLCLA Fitness (5), XSport Fitness (1)6 241 5,696 1.0 %BB2
15Five Below, Inc.32 291 5,684 1.0 %N/AN/A
16
Petco Health and Wellness
Company, Inc.
19 274 5,135 0.9 %BB3
17Nordstrom, Inc.Nordstrom Rack9 272 5,030 0.9 %BB+Ba2
18Kohl’s Corporation7 265 4,980 0.8 %BBBa2
19The Container Store Group, Inc.7 151 4,685 0.8 %CCC+N/A
20Designer Brands Inc.DSW Designer Shoe Warehouse16 314 4,614 0.8 %N/AN/A
21KnitWell GroupChico’s (7), Talbots (7), LOFT (5), Soma (4), Ann Taylor (4), White House Black Market (4)31 134 4,565 0.8 %N/AN/A
22Burlington Stores, Inc.10 459 4,412 0.8 %BB+N/A
23Office Depot, Inc.Office Depot (11), OfficeMax (3)14 308 4,369 0.7 %N/AN/A
24Sprouts Farmers Market, Inc.8 222 4,350 0.7 %N/AN/A
25Mattress Firm Group Inc.Mattress Firm (25), Sleepy’s (4)29 141 4,232 0.7 %B+B1
Total Top Tenants469 10,236 $169,570 28.9 %
(1)Number of stores represents stores at consolidated and unconsolidated properties.
(2)Total leased GLA/NRA 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 September 30, 2024, 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.
3rd Quarter 2024 Supplemental Financial and Operating Statistics
15

Kite Realty Group Trust
Retail Leasing Spreads
Comparable Space(1)(2)
 
Category
Total
Leases(1)
Total
Sq. Ft.(1)
LeasesSq. Ft.
Prior Rent PSF(3)
New Rent PSF(4)
Cash Rent Spread
TI, LL Work,
Lease Commissions PSF(5)
New Leases – Q3 202463 284,580 35 136,874 $24.11 $30.11 24.9 %
New Leases – Q2 202455 372,155 40 219,622 18.39 24.79 34.8 %
New Leases – Q1 202438 175,087 19 115,295 17.09 25.31 48.1 %
New Leases – Q4 202355 380,851 28 243,714 14.59 20.87 43.0 %
Total211 1,212,673 122 715,505 $17.98 $24.56 36.6 %$73.16 
Non-Option Renewals – Q3 202481 477,515 59 236,747 $23.69 $26.50 11.9 %
Non-Option Renewals – Q2 202469 314,899 60 216,422 22.17 25.34 14.3 %
Non-Option Renewals – Q1 202493 330,966 57 174,284 25.45 28.57 12.2 %
Non-Option Renewals – Q4 202378 336,283 60 275,310 23.56 25.74 9.2 %
Total321 1,459,663 236 902,763 $23.63 $26.39 11.7 %$4.35 
Option Renewals – Q3 202461 889,891 61 889,891 $16.51 $17.79 7.7 %
Option Renewals – Q2 202436 466,712 36 466,712 15.94 16.90 6.0 %
Option Renewals – Q1 202454 462,628 54 462,628 19.23 20.25 5.3 %
Option Renewals – Q4 202359 572,956 59 572,956 17.07 18.36 7.6 %
Total210 2,392,187 210 2,392,187 $17.06 $18.23 6.9 %$— 
Total – Q3 2024205 1,651,986 155 1,263,512 $18.68 $20.75 11.1 %
Total – Q2 2024160 1,153,766 136 902,756 18.03 20.84 15.6 %
Total – Q1 2024185 968,681 130 752,207 20.34 22.95 12.8 %
Total – Q4 2023192 1,290,090 147 1,091,980 18.15 20.78 14.5 %
Total742 5,064,523 568 4,010,455 $18.70 $21.19 13.3 %$14.03 
(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.

3rd Quarter 2024 Supplemental Financial and Operating Statistics
16

Kite Realty Group Trust
Lease Expirations as of September 30, 2024
(dollars in thousands, except per square foot data)
The following table includes the Company’s operating retail properties as of September 30, 2024.
Retail Operating Portfolio
Expiring Retail GLA(2)
Expiring ABR per Sq. Ft.(3)
Number of
Expiring
Leases(1)
Shop
Tenants		Anchor
Tenants		Expiring ABR
(Pro rata)		Expiring Ground Lease ABR
(Pro rata)		% of
Total ABR
(Pro rata)		Shop
Tenants		Anchor
Tenants		Total
2024139 320,151 74,045 $11,380 $622 2.0 %$32.74 $13.68 $29.16 
2025418 1,017,802 1,408,353 49,565 2,433 8.8 %31.41 12.88 20.65 
2026495 1,084,453 2,282,671 65,484 4,785 12.0 %31.14 14.24 19.69 
2027536 1,197,915 2,326,375 70,915 5,587 13.0 %32.49 13.92 20.23 
2028555 1,215,854 2,772,217 84,505 6,678 15.5 %35.59 14.89 21.20 
2029530 1,163,326 3,010,618 84,495 3,562 15.0 %35.33 15.25 20.85 
2030274 709,832 1,588,650 42,978 3,317 7.9 %31.03 13.47 18.89 
2031167 452,904 615,952 24,585 2,107 4.5 %33.70 15.30 23.10 
2032178 434,802 1,131,795 30,272 466 5.2 %32.31 14.73 19.61 
2033193 502,141 706,197 28,851 3,778 5.6 %35.18 15.90 23.91 
Beyond312 664,733 1,653,142 54,639 7,179 10.5 %38.18 17.80 23.64 
3,797 8,763,913 17,570,015 $547,669 $40,514 100.0 %$33.54 $14.76 $21.01 
(1)Lease expirations table reflects rents in place as of September 30, 2024 and does not include option periods; 2024 expirations include 36 month-to-month retail 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 September 30, 2024 for each applicable tenant multiplied by 12. Excludes tenant reimbursements and ground lease revenue.

3rd Quarter 2024 Supplemental Financial and Operating Statistics
17

Kite Realty Group Trust
Components of Net Asset Value as of September 30, 2024
(dollars in thousands)
Cash Net Operating Income (“NOI”)Page
Other Assets(1)
Page
GAAP property NOI (incl. ground lease revenue)$153,822 6Cash, cash equivalents, and restricted cash$123,033 3
Non-cash revenue adjustments(5,551)Short-term deposits350,000 3
Other property-related revenue(1,402)6Tenant and other receivables (net of SLR)48,477 3
Ground lease (“GL”) revenue(10,758)6Prepaid and other assets106,258 3
Consolidated Cash Property NOI (excl. GL)$136,111 
Annualized Consolidated Cash Property NOI
(excl. ground leases)
$544,444 
Adjustments to Normalize Annualized Cash NOILiabilities
Remaining NOI to come online from development and redevelopment projects(2)
$8,200 13Mortgage and other indebtedness, net$(3,229,477)10
Unconsolidated Adjusted EBITDA2,388 8Pro rata adjustment for joint venture debt(35,540)8
General and administrative expense allocable to property management activities included in property expenses ($3.9 million in Q3)15,600 6, note 3Accounts payable and accrued expenses(188,928)3
Total Adjustments26,188 Other liabilities(248,852)3
Projected remaining under construction development/redevelopment(3)
(94,500)13
Annualized Normalized Portfolio Cash NOI
(excl. ground leases)
$570,632 
Annualized ground lease NOI 43,032 
Total Annualized Portfolio Cash NOI(4)
$613,664 Common shares and Units outstanding223,626,166 
(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 development projects.
(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 September 30, 2024.

3rd Quarter 2024 Supplemental Financial and Operating Statistics
18
                            
Kite Realty Group Trust
Non-GAAP Financial Measures
Funds from Operations
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 employee severance, (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”) due to the recovery from the COVID-19 pandemic, which are not otherwise adjusted in the Company’s calculation of FFO.
In the FFO per share metrics, the Company excludes the dilutive effect of shares issuable upon the conversion of the Company’s 0.75% exchangeable senior notes maturing in April 2027 (the “Exchangeable Notes”) from the diluted weighted average number of common shares and units outstanding as a result of the Company’s capped call that was entered into concurrently with the issuance of the Exchangeable Notes. The potential dilutive effect of the Exchangeable Notes under the if-converted method is an increase to the diluted weighted average number of common shares and units of 117,454 common shares for the three months ended September 30, 2024. The capped call purchased by the Company offsets this dilution up to a capped price that is currently more than the Company’s share price. Both items have been excluded to reflect that there is no economic dilution to shareholders and unitholders based upon the Company’s current share price.
For purposes of the net income per share metrics, the conversion feature of the Exchangeable Notes and the capped call are required to be considered independently. Therefore, the capped call has been excluded from the calculation of net income per share as it is anti-dilutive.
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 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 property net operating income (“NOI”) and cash NOI, which are non-GAAP financial measures, to evaluate the performance of our properties. 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.
3rd Quarter 2024 Supplemental Financial and Operating Statistics
19

Kite Realty Group Trust
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. 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, and (v) significant prior period expense recoveries and adjustments, if any. 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. Same Property NOI includes the results of properties that have been owned for the entire current and prior year reporting periods.
NOI and Same Property NOI should not, however, be considered as alternatives to net income (calculated in accordance with GAAP) as indicators 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 and nine months ended September 30, 2024, the same property pool excludes the following: (i) properties acquired or placed in service during 2023 and 2024; (ii) The Landing at Tradition – Phase II, which was reclassified from active redevelopment into our operating portfolio in June 2023; (iii) our active development and redevelopment projects at Carillon medical office building, The Corner – IN, and One Loudoun Expansion; (iv) Hamilton Crossing Centre and Edwards Multiplex – Ontario, which were reclassified from our operating portfolio into redevelopment in June 2014 and March 2023, respectively; (v) properties sold or classified as held for sale during 2023 and 2024; and (vi) office properties.
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.
3rd Quarter 2024 Supplemental Financial and Operating Statistics
20
v3.24.3
COVER PAGE
Oct. 30, 2024
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Oct. 30, 2024
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
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Shares, $0.01 par value per share
Trading Symbol KRG
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0001286043
Amendment Flag false
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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