Kite Realty Group Trust raised the floor of its 2026 same-property net operating income growth outlook as it reported a 7.2% year-over-year revenue decline for the third quarter.
The company now expects same-property NOI growth of 3.4% to 3.9%, compared with its previous range of 3% to 4%. That moves the lower boundary up 0.4 percentage point and the upper boundary down 0.1 point. The revised range spans 0.5 percentage point, half the width of the earlier one.
Third-quarter same-property NOI grew 3.6%, Kite Realty said in its results. Revenue was $190.275 million, compared with $204.961 million a year earlier, a decline of about $14.69 million. The year-over-year decrease rounds to 7.2% to one decimal place.
NAREIT funds from operations (FFO) totaled $0.53 per diluted share. The quarter also resulted in a $13.3 million loss for common shareholders, with diluted loss per share at $0.07.
Kite Realty raised its 2026 Core and NAREIT FFO guidance to $2.08 to $2.12 per diluted share, from $2.06 to $2.12. The change lifts the low end by 2 cents and leaves the high end unchanged, narrowing the guidance spread from 6 cents to 4 cents per share.
The company scheduled a conference call to discuss its results for 11 a.m. ET Friday, Oct. 30.
