Kite Realty reports Q2 core EPS 50c, consensus 51c

Reports Q2 revenue $213.4M, consensus $213.14M. “The KRG team delivered another outstanding quarter, driven by strong operational performance, excellent execution on the transactional front, and an opportunistic bond issuance,” said John Kite, chairman and CEO. “Due to persistent and deep tenant demand across our centers, we are securing higher starting rents, improved embedded escalators, better-capitalized retailers, and a far more vibrant merchandising mix. Our disciplined sources-and-uses approach enabled us to buy a majority stake in Legacy West, monetize minority interests in three larger-format assets, and sell additional non-core assets in an earnings-accretive, value-enhancing manner.”