Kite Realty Group Trust (KRG) Presents at BofA NY Global Real Estate Conference 2026 Transcript

SA Transcripts 162.21K Followers Follow Kite Realty Group Trust ( KRG ) BofA NY Global Real Estate Conference 2026 September 15, 2026 3:00 PM EDT Company Participants John Kite - Chairman of the Board of Trustees & CEO Heath Fear - President & CFO Presentation Unknown Analyst We get started. This is the Kite Realty Roundtable. Happy to have Kite, CEO of the company; Heath Fear, CFO; Cooper Clark new addition, right? So with that let me turn it over to John with his opening remarks. John Kite Chairman of the Board of Trustees & CEO Okay. Thank you, Buddy. Good morning, everybody. Good afternoon. I'll be quick on the remarks. We've been very busy at Kite for the last 2 years. Most of you are familiar with our Project Elevate, which is the disposition of what we'd considered lower growth, larger format shopping centers. We've sold about $1 billion in the last few years, 22 properties. One of the main goals was to eliminate potential future credit risk. We eliminated 61 anchor tenants that we deemed at risk. 5 watch list tenants have come off our top 25. Through all this process, we bought back about $0.5 billion of stock during this period. Meanwhile, our operating platform is performing better than we expected. Same-store NOI is just under 4%, 3.7% in the first half of this year. Our sign-not-open pipeline is still very elevated at, I think, $37 million currently. The leasing environment is still strong. If you look at our last quarter, our leasing spreads still remain very good, particularly the one that we look at the most, which is our non-option renewals, which was at about 18% spread in the past quarter. All the while, we've maintained a very healthy balance sheet, which is always part of our strategy. Relative to this is that we did not