Kite Realty Group Reports Second Quarter 2026 Operating Results

Kite Realty Group Trust (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored shopping centers and vibrant mixed-use assets, reported today its operating results for the second quarter ended June 30, 2026. For the quarters ended June 30, 2026 and 2025, net income attributable to common shareholders was $161.3 million, or $0.79 per diluted share, compared to $110.3 million, or $0.50 per diluted share, respectively. For the six months ended June 30, 2026 and 2025, net income attributable to common shareholders was $172.7 million, or $0.84 per diluted share, compared to $134.0 million, or $0.61 per diluted share, respectively.

Same Property Net Operating Income (NOI) increase of 3.7% Advanced portfolio transformation with $314.0 million of non-core dispositions Priced $345 million of 3.25% exchangeable senior notes due 2032 In 2025 and 2026, repurchased a total of 19.6 million common shares for $475.7 million at an average price of $24.20 per share

Second Quarter 2026 Financial and Operational Results Generated Core FFO of the Operating Partnership of $108.4 million, or $0.52 per diluted share. Generated NAREIT FFO of the Operating Partnership of $109.1 million, or $0.53 per diluted share. Same Property NOI increased by 3.7%. Executed 128 new and renewal leases representing approximately 1.0 million square feet. Blended cash leasing spreads of 15.9% on 103 comparable leases, including 28.4% on 29 comparable new leases, 17.7% on 37 comparable non-option renewals, and 6.6% on 37 comparable option renewals. Blended cash leasing spreads of 24.7% for comparable new and non-option renewal leases. Operating retail portfolio annualized base rent (ABR) per square foot of $23.41 at June 30, 2026, a 6.3% increase year-over-year. Retail portfolio leased percentage of 94.8% at June 30, 2026, a 150-basis point increase year-over-year. Anchor leased percentage of 96.3% at June 30, 2026, a 210-basis point increase year-over-year. Small shop leased percentage of 92.3% at June 30, 2026, a 70-basis point increase year-over-year. Portfolio leased-to-occupied spread at period end of 350 basis points, which represents approximately $37.3 million of signed-not-open NOI.

Second Quarter 2026 Capital Allocation Activity Sold eight non-core assets for gross proceeds of $314.0 million, consistent with the Company’s strategy to reduce exposure to lower-growth assets and improve the portfolio’s embedded growth profile. Subsequent to quarter end, sold one non-core asset – Tysons Corner in Vienna, VA – for $25.9 million. Acquired two neighborhood centers – Founders Square in Naples, FL and Chastain Market, a Trader Joe’s anchored center in Atlanta, GA – for $136.0 million through Internal Revenue Code Section 1031 tax-deferred exchanges. Commenced development of a second phase of luxury multifamily units at One Loudoun (Washington, D.C. MSA) within the existing residential joint venture. The 429-unit development is currently expected to cost approximately $175.1 million, begin delivering units in 2029, and will be partially financed by a new $107.5 million construction loan. KRG’s equity in the project has been funded via a contribution of entitled land and its equity in the existing 378-un...