Quarterly ResultApr 29, 2026, 06:51 AM
KRG Q1 Net Income $11.4M; Same Property NOI +3.6%; FFO $0.52
AI Summary
Kite Realty Group reported Q1 2026 operating results with net income attributable to common shareholders of $11.4 million ($0.06 per diluted share), down from $23.7 million ($0.11 per diluted share) in Q1 2025. Core FFO and NAREIT FFO were both $0.52 per diluted share. The company achieved a 3.6% increase in Same Property Net Operating Income and strong blended cash leasing spreads of 13.5%. KRG also upsized its share repurchase program to $600 million and repurchased $152.3 million in Q1, bringing the total to $400 million since 2025. The Board declared a Q2 dividend of $0.29 per share, a 7.4% year-over-year increase, and affirmed 2026 FFO guidance while raising Same Property NOI growth guidance.
Key Highlights
- Q1 2026 net income attributable to common shareholders was $11.4M ($0.06/diluted share).
- Q1 2026 Core FFO and NAREIT FFO were $0.52 per diluted share.
- Same Property Net Operating Income (NOI) increased by 3.6% year-over-year.
- Blended cash leasing spreads were 13.5% on 113 comparable leases.
- Share repurchase program upsized from $300M to $600M.
- Repurchased $152.3M of common shares in Q1 2026; $400M total since 2025.
- Declared Q2 2026 dividend of $0.29/share, a 7.4% YoY increase.
- Affirmed 2026 FFO guidance; raised Same Property NOI growth guidance to 2.50%-3.50%.