We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Kite Realty Group Trust New | NYSE:KRG | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.34 | -1.59% | 21.05 | 21.83 | 20.865 | 21.69 | 2,146,691 | 01:00:00 |
Maryland (Kite Realty Group Trust)
|
|
11-3715772
|
Delaware (Kite Realty Group, L.P.)
|
|
20-1453863
|
(State or other jurisdiction of incorporation or organization)
|
|
(IRS Employer Identification No.)
|
|
|
|
30 S. Meridian Street, Suite 1100
Indianapolis, Indiana 46204
|
||
(Address of principal executive offices) (Zip code)
|
||
|
|
|
Telephone: (317) 577-5600
|
||
(Registrant’s telephone number, including area code)
|
||
|
||
Not Applicable
|
||
(Former name, former address and former fiscal year, if changed since last report)
|
Kite Realty Group Trust
|
Yes
x
|
No
o
|
Kite Realty Group, L.P.
|
Yes
x
|
No
o
|
Kite Realty Group Trust
|
Yes
x
|
No
o
|
Kite Realty Group, L.P.
|
Yes
x
|
No
o
|
Large accelerated filer
|
x
|
Accelerated filer
|
o
|
Non-accelerated filer
|
o
|
Smaller reporting company
|
o
|
|
|
|
|
|
|
|
|
Emerging growth company
|
o
|
Large accelerated filer
|
o
|
Accelerated filer
|
o
|
Non-accelerated filer
|
x
|
Smaller reporting company
|
o
|
|
|
|
|
|
|
|
|
Emerging growth company
|
o
|
Kite Realty Group Trust
|
Yes
o
|
No
x
|
Kite Realty Group, L.P.
|
Yes
o
|
No
x
|
•
|
enhancing investors' understanding of the Parent Company and the Operating Partnership by enabling investors to view the business as a whole in the same manner as management views and operates the business;
|
•
|
eliminating duplicative disclosure and providing a more streamlined and readable presentation of information because a substantial portion of the Company's disclosure applies to both the Parent Company and the Operating Partnership; and
|
•
|
creating time and cost efficiencies through the preparation of one combined report instead of two separate reports.
|
|
|
Page
|
Part I.
|
|
|
|
|
|
Item 1.
|
|
|
|
|
|
Kite Realty Group Trust:
|
|
|
|
|
|
|
Consolidated Balance Sheets as of June 30, 2017 and December 31, 2016
|
|
|
|
|
|
Consolidated Statements of Operations and Comprehensive Income for the Three and Six Months Ended June 30, 2017 and 2016
|
|
|
|
|
|
Consolidated Statement of Shareholders' Equity for the Six Months Ended June 30, 2017
|
|
|
|
|
|
Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2017 and 2016
|
|
|
|
|
Kite Realty Group, L.P. and subsidiaries:
|
|
|
|
|
|
|
Consolidated Balance Sheets as of June 30, 2017 and December 31, 2016
|
|
|
|
|
|
Consolidated Statements of Operations and Comprehensive Income for the Three and Six Months Ended June 30, 2017 and 2016
|
|
|
|
|
|
Consolidated Statement of Partners' Equity for the Six Months Ended June 30, 2017
|
|
|
|
|
|
Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2017 and 2016
|
|
|
|
|
Kite Realty Group Trust and Kite Realty Group, L.P. and subsidiaries:
|
|
|
|
|
|
|
Notes to Consolidated Financial Statements
|
|
|
|
|
Item 2.
|
Cautionary Note About Forward-Looking Statements
|
|
|
|
|
|
Management's Discussion and Analysis of Financial Condition and Results of Operations
|
|
|
|
|
Item 3.
|
Quantitative and Qualitative Disclosure about Market Risk
|
|
|
|
|
Item 4.
|
Controls and Procedures
|
|
|
|
|
Part II.
|
OTHER INFORMATION
|
|
|
|
|
Item 1.
|
Legal Proceedings
|
|
|
|
|
Item 1A.
|
Risk Factors
|
|
|
|
|
Item 2.
|
Unregistered Sales of Equity Securities and Use of Proceeds
|
|
|
|
|
Item 3.
|
Defaults upon Senior Securities
|
|
|
|
|
Item 4.
|
Mine Safety Disclosures
|
|
|
|
|
Item 5.
|
Other Information
|
|
|
|
|
Item 6.
|
Exhibits
|
|
|
|
|
SIGNATURES
|
|
June 30,
2017 |
|
December 31,
2016 |
||||
Assets:
|
|
|
|
||||
Investment properties, at cost
|
$
|
3,939,999
|
|
|
$
|
3,996,065
|
|
Less: accumulated depreciation
|
(608,233
|
)
|
|
(560,683
|
)
|
||
|
3,331,766
|
|
|
3,435,382
|
|
||
|
|
|
|
||||
Cash and cash equivalents
|
27,635
|
|
|
19,874
|
|
||
Tenant and other receivables, including accrued straight-line rent of $29,818 and $28,703 respectively, net of allowance for uncollectible accounts
|
52,270
|
|
|
53,087
|
|
||
Restricted cash and escrow deposits
|
8,717
|
|
|
9,037
|
|
||
Deferred costs and intangibles, net
|
119,699
|
|
|
129,264
|
|
||
Prepaid and other assets
|
10,188
|
|
|
9,727
|
|
||
Total Assets
|
$
|
3,550,275
|
|
|
$
|
3,656,371
|
|
|
|
|
|
||||
Liabilities and Equity:
|
|
|
|
|
|||
Mortgage and other indebtedness, net
|
$
|
1,675,064
|
|
|
$
|
1,731,074
|
|
Accounts payable and accrued expenses
|
88,482
|
|
|
80,664
|
|
||
Deferred revenue and intangibles, net and other liabilities
|
103,302
|
|
|
112,202
|
|
||
Total Liabilities
|
1,866,848
|
|
|
1,923,940
|
|
||
Commitments and contingencies
|
—
|
|
|
—
|
|
||
Limited partners' interests in Operating Partnership and other redeemable noncontrolling interests
|
73,051
|
|
|
88,165
|
|
||
Equity:
|
|
|
|
|
|
||
Kite Realty Group Trust Shareholders' Equity:
|
|
|
|
|
|
||
Common Shares, $.01 par value, 225,000,000 shares authorized, 83,595,490 and 83,545,398
shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively |
836
|
|
|
835
|
|
||
Additional paid in capital and other
|
2,067,795
|
|
|
2,062,360
|
|
||
Accumulated other comprehensive income (loss)
|
736
|
|
|
(316
|
)
|
||
Accumulated deficit
|
(459,689
|
)
|
|
(419,305
|
)
|
||
Total Kite Realty Group Trust Shareholders' Equity
|
1,609,678
|
|
|
1,643,574
|
|
||
Noncontrolling Interests
|
698
|
|
|
692
|
|
||
Total Equity
|
1,610,376
|
|
|
1,644,266
|
|
||
Total Liabilities and Equity
|
$
|
3,550,275
|
|
|
$
|
3,656,371
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
|
|
|
|
|
|
|
|
||||||||
Revenue:
|
|
|
|
|
|
|
|
||||||||
Minimum rent
|
$
|
68,395
|
|
|
$
|
68,455
|
|
|
$
|
137,341
|
|
|
$
|
135,918
|
|
Tenant reimbursements
|
18,521
|
|
|
17,006
|
|
|
37,091
|
|
|
35,161
|
|
||||
Other property related revenue
|
5,733
|
|
|
2,114
|
|
|
8,330
|
|
|
5,046
|
|
||||
Total revenue
|
92,649
|
|
|
87,575
|
|
|
182,762
|
|
|
176,125
|
|
||||
Expenses:
|
|
|
|
|
|
|
|
||||||||
Property operating
|
12,139
|
|
|
11,346
|
|
|
25,091
|
|
|
23,538
|
|
||||
Real estate taxes
|
11,228
|
|
|
10,503
|
|
|
21,559
|
|
|
21,637
|
|
||||
General, administrative, and other
|
5,488
|
|
|
4,856
|
|
|
10,958
|
|
|
10,147
|
|
||||
Transaction costs
|
—
|
|
|
2,771
|
|
|
—
|
|
|
2,771
|
|
||||
Impairment charge
|
—
|
|
|
—
|
|
|
7,411
|
|
|
—
|
|
||||
Depreciation and amortization
|
42,710
|
|
|
43,841
|
|
|
88,540
|
|
|
86,082
|
|
||||
Total expenses
|
71,565
|
|
|
73,317
|
|
|
153,559
|
|
|
144,175
|
|
||||
Operating income
|
21,084
|
|
|
14,258
|
|
|
29,203
|
|
|
31,950
|
|
||||
Interest expense
|
(16,433
|
)
|
|
(15,500
|
)
|
|
(32,878
|
)
|
|
(30,825
|
)
|
||||
Income tax (expense) benefit of taxable REIT subsidiary
|
(3
|
)
|
|
(338
|
)
|
|
30
|
|
|
(748
|
)
|
||||
Other expense, net
|
(80
|
)
|
|
(110
|
)
|
|
(219
|
)
|
|
(94
|
)
|
||||
Income (loss) from continuing operations
|
4,568
|
|
|
(1,690
|
)
|
|
(3,864
|
)
|
|
283
|
|
||||
Gains on sales of operating properties
|
6,290
|
|
|
194
|
|
|
15,160
|
|
|
194
|
|
||||
Consolidated net income (loss)
|
10,858
|
|
|
(1,496
|
)
|
|
11,296
|
|
|
477
|
|
||||
Net income attributable to noncontrolling interests
|
(678
|
)
|
|
(399
|
)
|
|
(1,110
|
)
|
|
(971
|
)
|
||||
Net income (loss) attributable to Kite Realty Group Trust common shareholders
|
$
|
10,180
|
|
|
$
|
(1,895
|
)
|
|
$
|
10,186
|
|
|
$
|
(494
|
)
|
|
|
|
|
|
|
|
|
|
|
||||||
Net income (loss) per common share - basic & diluted
|
$
|
0.12
|
|
|
$
|
(0.02
|
)
|
|
$
|
0.12
|
|
|
$
|
(0.01
|
)
|
|
|
|
|
|
|
|
|
||||||||
Weighted average common shares outstanding - basic
|
83,585,736
|
|
|
83,375,765
|
|
|
83,575,587
|
|
|
83,362,136
|
|
||||
Weighted average common shares outstanding - diluted
|
83,652,627
|
|
|
83,375,765
|
|
|
83,640,327
|
|
|
83,362,136
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Common dividends declared per common share
|
$
|
0.3025
|
|
|
$
|
0.2875
|
|
|
$
|
0.6050
|
|
|
$
|
0.5750
|
|
|
|
|
|
|
|
|
|
||||||||
Consolidated net income (loss)
|
$
|
10,858
|
|
|
$
|
(1,496
|
)
|
|
$
|
11,296
|
|
|
$
|
477
|
|
Change in fair value of derivatives
|
(420
|
)
|
|
(2,619
|
)
|
|
1,076
|
|
|
(9,932
|
)
|
||||
Total comprehensive income (loss)
|
10,438
|
|
|
(4,115
|
)
|
|
12,372
|
|
|
(9,455
|
)
|
||||
Comprehensive income attributable to noncontrolling interests
|
(668
|
)
|
|
(340
|
)
|
|
(1,134
|
)
|
|
(744
|
)
|
||||
Comprehensive income (loss) attributable to Kite Realty Group Trust
|
$
|
9,770
|
|
|
$
|
(4,455
|
)
|
|
$
|
11,238
|
|
|
$
|
(10,199
|
)
|
|
Common Shares
|
|
Additional
Paid-in Capital
|
|
Accumulated
Other
Comprehensive
(Loss) Income
|
|
Accumulated
Deficit
|
|
Total
|
|||||||||||||
|
Shares
|
|
Amount
|
|
|
|
|
|||||||||||||||
Balances, December 31, 2016
|
83,545,398
|
|
|
$
|
835
|
|
|
$
|
2,062,360
|
|
|
$
|
(316
|
)
|
|
$
|
(419,305
|
)
|
|
$
|
1,643,574
|
|
Stock compensation activity
|
50,092
|
|
|
1
|
|
|
2,597
|
|
|
—
|
|
|
—
|
|
|
2,598
|
|
|||||
Other comprehensive income attributable
to Kite Realty Group Trust |
—
|
|
|
—
|
|
|
—
|
|
|
1,052
|
|
|
—
|
|
|
1,052
|
|
|||||
Distributions declared to common
shareholders |
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(50,570
|
)
|
|
(50,570
|
)
|
|||||
Net income attributable to Kite
Realty Group Trust |
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,186
|
|
|
10,186
|
|
|||||
Acquisition of partner's noncontrolling interest
in Fishers Station operating property |
—
|
|
|
—
|
|
|
(3,750
|
)
|
|
—
|
|
|
—
|
|
|
(3,750
|
)
|
|||||
Adjustment to redeemable noncontrolling
interests |
—
|
|
|
—
|
|
|
6,588
|
|
|
—
|
|
|
—
|
|
|
6,588
|
|
|||||
Balances, June 30, 2017
|
83,595,490
|
|
|
$
|
836
|
|
|
$
|
2,067,795
|
|
|
$
|
736
|
|
|
$
|
(459,689
|
)
|
|
$
|
1,609,678
|
|
|
Six Months Ended
June 30, |
||||||
|
2017
|
|
2016
|
||||
Cash flows from operating activities:
|
|
|
|
||||
Consolidated net income
|
$
|
11,296
|
|
|
$
|
477
|
|
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
|
|
|
|
|
|
||
Straight-line rent
|
(2,420
|
)
|
|
(2,842
|
)
|
||
Depreciation and amortization
|
89,749
|
|
|
87,713
|
|
||
Gains on sales of operating properties
|
(15,160
|
)
|
|
(194
|
)
|
||
Impairment charge
|
7,411
|
|
|
—
|
|
||
Provision for credit losses
|
1,790
|
|
|
1,291
|
|
||
Compensation expense for equity awards
|
3,122
|
|
|
2,573
|
|
||
Amortization of debt fair value adjustment
|
(1,486
|
)
|
|
(2,128
|
)
|
||
Amortization of in-place lease liabilities, net
|
(1,800
|
)
|
|
(3,252
|
)
|
||
Changes in assets and liabilities:
|
|
|
|
|
|
||
Tenant receivables and other
|
(1,606
|
)
|
|
3,456
|
|
||
Deferred costs and other assets
|
(7,109
|
)
|
|
(5,917
|
)
|
||
Accounts payable, accrued expenses, deferred revenue and other liabilities
|
(2,688
|
)
|
|
(232
|
)
|
||
Net cash provided by operating activities
|
81,099
|
|
|
80,945
|
|
||
Cash flows from investing activities:
|
|
|
|
|
|
||
Capital expenditures, net
|
(34,947
|
)
|
|
(44,223
|
)
|
||
Net proceeds from sales of operating properties
|
76,076
|
|
|
139
|
|
||
Collection of note receivable
|
—
|
|
|
500
|
|
||
Change in construction payables
|
(1,598
|
)
|
|
(1,260
|
)
|
||
Net cash provided by (used in) investing activities
|
39,531
|
|
|
(44,844
|
)
|
||
Cash flows from financing activities:
|
|
|
|
|
|
||
Repurchases of common shares upon the vesting of restricted shares
|
(780
|
)
|
|
(755
|
)
|
||
Acquisition of partner's interest in Fishers Station operating property
|
(3,750
|
)
|
|
—
|
|
||
Loan proceeds
|
54,200
|
|
|
178,970
|
|
||
Loan transaction costs
|
—
|
|
|
(887
|
)
|
||
Loan payments
|
(109,933
|
)
|
|
(160,597
|
)
|
||
Distributions paid – common shareholders
|
(50,553
|
)
|
|
(46,676
|
)
|
||
Distributions paid – redeemable noncontrolling interests
|
(2,053
|
)
|
|
(1,941
|
)
|
||
Distributions to noncontrolling interests
|
—
|
|
|
(193
|
)
|
||
Net cash used in financing activities
|
(112,869
|
)
|
|
(32,079
|
)
|
||
Net change in cash and cash equivalents
|
7,761
|
|
|
4,022
|
|
||
Cash and cash equivalents, beginning of period
|
19,874
|
|
|
33,880
|
|
||
Cash and cash equivalents, end of period
|
$
|
27,635
|
|
|
$
|
37,902
|
|
|
June 30,
2017 |
|
December 31,
2016 |
||||
Assets:
|
|
|
|
||||
Investment properties, at cost
|
$
|
3,939,999
|
|
|
$
|
3,996,065
|
|
Less: accumulated depreciation
|
(608,233
|
)
|
|
(560,683
|
)
|
||
|
3,331,766
|
|
|
3,435,382
|
|
||
|
|
|
|
||||
Cash and cash equivalents
|
27,635
|
|
|
19,874
|
|
||
Tenant and other receivables, including accrued straight-line rent of $29,818 and $28,703 respectively, net of allowance for uncollectible accounts
|
52,270
|
|
|
53,087
|
|
||
Restricted cash and escrow deposits
|
8,717
|
|
|
9,037
|
|
||
Deferred costs and intangibles, net
|
119,699
|
|
|
129,264
|
|
||
Prepaid and other assets
|
10,188
|
|
|
9,727
|
|
||
Total Assets
|
$
|
3,550,275
|
|
|
$
|
3,656,371
|
|
|
|
|
|
||||
Liabilities and Equity:
|
|
|
|
|
|||
Mortgage and other indebtedness, net
|
$
|
1,675,064
|
|
|
$
|
1,731,074
|
|
Accounts payable and accrued expenses
|
88,482
|
|
|
80,664
|
|
||
Deferred revenue and intangibles, net and other liabilities
|
103,302
|
|
|
112,202
|
|
||
Total Liabilities
|
1,866,848
|
|
|
1,923,940
|
|
||
Commitments and contingencies
|
—
|
|
|
—
|
|
||
Redeemable Limited Partners’ and other redeemable noncontrolling interests
|
73,051
|
|
|
88,165
|
|
||
Partners Equity:
|
|
|
|
||||
Parent Company:
|
|
|
|
||||
Common equity, 83,595,490 and 83,545,398 units issued and outstanding at June 30, 2017
and December 31, 2016, respectively |
1,608,942
|
|
|
1,643,890
|
|
||
Accumulated other comprehensive income (loss)
|
736
|
|
|
(316
|
)
|
||
Total Partners Equity
|
1,609,678
|
|
|
1,643,574
|
|
||
Noncontrolling Interests
|
698
|
|
|
692
|
|
||
Total Equity
|
1,610,376
|
|
|
1,644,266
|
|
||
Total Liabilities and Equity
|
$
|
3,550,275
|
|
|
$
|
3,656,371
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
|
|
|
|
|
|
|
|
||||||||
Revenue:
|
|
|
|
|
|
|
|
||||||||
Minimum rent
|
$
|
68,395
|
|
|
$
|
68,455
|
|
|
$
|
137,341
|
|
|
$
|
135,918
|
|
Tenant reimbursements
|
18,521
|
|
|
17,006
|
|
|
37,091
|
|
|
35,161
|
|
||||
Other property related revenue
|
5,733
|
|
|
2,114
|
|
|
8,330
|
|
|
5,046
|
|
||||
Total revenue
|
92,649
|
|
|
87,575
|
|
|
182,762
|
|
|
176,125
|
|
||||
Expenses:
|
|
|
|
|
|
|
|
|
|
||||||
Property operating
|
12,139
|
|
|
11,346
|
|
|
25,091
|
|
|
23,538
|
|
||||
Real estate taxes
|
11,228
|
|
|
10,503
|
|
|
21,559
|
|
|
21,637
|
|
||||
General, administrative, and other
|
5,488
|
|
|
4,856
|
|
|
10,958
|
|
|
10,147
|
|
||||
Transaction costs
|
—
|
|
|
2,771
|
|
|
—
|
|
|
2,771
|
|
||||
Impairment charge
|
—
|
|
|
—
|
|
|
7,411
|
|
|
—
|
|
||||
Depreciation and amortization
|
42,710
|
|
|
43,841
|
|
|
88,540
|
|
|
86,082
|
|
||||
Total expenses
|
71,565
|
|
|
73,317
|
|
|
153,559
|
|
|
144,175
|
|
||||
Operating income
|
21,084
|
|
|
14,258
|
|
|
29,203
|
|
|
31,950
|
|
||||
Interest expense
|
(16,433
|
)
|
|
(15,500
|
)
|
|
(32,878
|
)
|
|
(30,825
|
)
|
||||
Income tax (expense) benefit of taxable REIT subsidiary
|
(3
|
)
|
|
(338
|
)
|
|
30
|
|
|
(748
|
)
|
||||
Other expense, net
|
(80
|
)
|
|
(110
|
)
|
|
(219
|
)
|
|
(94
|
)
|
||||
Income (loss) from continuing operations
|
4,568
|
|
|
(1,690
|
)
|
|
(3,864
|
)
|
|
283
|
|
||||
Gains on sales of operating properties
|
6,290
|
|
|
194
|
|
|
15,160
|
|
|
194
|
|
||||
Consolidated net income (loss)
|
10,858
|
|
|
(1,496
|
)
|
|
11,296
|
|
|
477
|
|
||||
Net income attributable to noncontrolling interests
|
(438
|
)
|
|
(461
|
)
|
|
(870
|
)
|
|
(983
|
)
|
||||
Net income (loss) attributable to common unitholders
|
$
|
10,420
|
|
|
$
|
(1,957
|
)
|
|
$
|
10,426
|
|
|
$
|
(506
|
)
|
|
|
|
|
|
|
|
|
||||||||
Allocation of net income (loss):
|
|
|
|
|
|
|
|
||||||||
Limited Partners
|
$
|
240
|
|
|
$
|
(62
|
)
|
|
$
|
240
|
|
|
$
|
(12
|
)
|
Parent Company
|
10,180
|
|
|
(1,895
|
)
|
|
10,186
|
|
|
(494
|
)
|
||||
|
$
|
10,420
|
|
|
$
|
(1,957
|
)
|
|
$
|
10,426
|
|
|
$
|
(506
|
)
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
||||||||
Net income (loss) per unit - basic & diluted
|
$
|
0.12
|
|
|
$
|
(0.02
|
)
|
|
$
|
0.12
|
|
|
$
|
(0.01
|
)
|
|
|
|
|
|
|
|
|
||||||||
Weighted average common units outstanding - basic
|
85,572,566
|
|
|
85,320,923
|
|
|
85,551,356
|
|
|
85,295,968
|
|
||||
Weighted average common units outstanding - diluted
|
85,639,457
|
|
|
85,420,633
|
|
|
85,616,096
|
|
|
85,394,353
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Distributions declared per common unit
|
$
|
0.3025
|
|
|
$
|
0.2875
|
|
|
$
|
0.6050
|
|
|
$
|
0.5750
|
|
|
|
|
|
|
|
|
|
||||||||
Consolidated net income (loss)
|
$
|
10,858
|
|
|
$
|
(1,496
|
)
|
|
$
|
11,296
|
|
|
$
|
477
|
|
Change in fair value of derivatives
|
(420
|
)
|
|
(2,619
|
)
|
|
1,076
|
|
|
(9,932
|
)
|
||||
Total comprehensive income (loss)
|
10,438
|
|
|
(4,115
|
)
|
|
12,372
|
|
|
(9,455
|
)
|
||||
Comprehensive income attributable to noncontrolling interests
|
(438
|
)
|
|
(461
|
)
|
|
(870
|
)
|
|
(983
|
)
|
||||
Comprehensive income (loss) attributable to common unitholders
|
$
|
10,000
|
|
|
$
|
(4,576
|
)
|
|
$
|
11,502
|
|
|
$
|
(10,438
|
)
|
|
General Partner
|
|
Total
|
||||||||
|
Common Equity
|
|
Accumulated
Other
Comprehensive
(Loss) Income
|
|
|||||||
Balances, December 31, 2016
|
$
|
1,643,890
|
|
|
$
|
(316
|
)
|
|
$
|
1,643,574
|
|
Stock compensation activity
|
2,598
|
|
|
—
|
|
|
2,598
|
|
|||
Other comprehensive income attributable to Parent Company
|
—
|
|
|
1,052
|
|
|
1,052
|
|
|||
Distributions declared to Parent Company
|
(50,570
|
)
|
|
—
|
|
|
(50,570
|
)
|
|||
Net income
|
10,186
|
|
|
—
|
|
|
10,186
|
|
|||
Acquisition of partner's interest in Fishers Station operating property
|
(3,750
|
)
|
|
—
|
|
|
(3,750
|
)
|
|||
Adjustment to redeemable noncontrolling interests
|
6,588
|
|
|
—
|
|
|
6,588
|
|
|||
Balances, June 30, 2017
|
$
|
1,608,942
|
|
|
$
|
736
|
|
|
$
|
1,609,678
|
|
|
Six Months Ended
June 30, |
||||||
|
2017
|
|
2016
|
||||
Cash flows from operating activities:
|
|
|
|
||||
Consolidated net income
|
$
|
11,296
|
|
|
$
|
477
|
|
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
|
|
|
|
||||
Straight-line rent
|
(2,420
|
)
|
|
(2,842
|
)
|
||
Depreciation and amortization
|
89,749
|
|
|
87,713
|
|
||
Gains on sales of operating properties
|
(15,160
|
)
|
|
(194
|
)
|
||
Impairment charge
|
7,411
|
|
|
—
|
|
||
Provision for credit losses
|
1,790
|
|
|
1,291
|
|
||
Compensation expense for equity awards
|
3,122
|
|
|
2,573
|
|
||
Amortization of debt fair value adjustment
|
(1,486
|
)
|
|
(2,128
|
)
|
||
Amortization of in-place lease liabilities, net
|
(1,800
|
)
|
|
(3,252
|
)
|
||
Changes in assets and liabilities:
|
|
|
|
||||
Tenant receivables and other
|
(1,606
|
)
|
|
3,456
|
|
||
Deferred costs and other assets
|
(7,109
|
)
|
|
(5,917
|
)
|
||
Accounts payable, accrued expenses, deferred revenue and other liabilities
|
(2,688
|
)
|
|
(232
|
)
|
||
Net cash provided by operating activities
|
81,099
|
|
|
80,945
|
|
||
Cash flows from investing activities:
|
|
|
|
|
|
||
Capital expenditures, net
|
(34,947
|
)
|
|
(44,223
|
)
|
||
Net proceeds from sales of operating properties
|
76,076
|
|
|
139
|
|
||
Collection of note receivable
|
—
|
|
|
500
|
|
||
Change in construction payables
|
(1,598
|
)
|
|
(1,260
|
)
|
||
Net cash provided by (used in) investing activities
|
39,531
|
|
|
(44,844
|
)
|
||
Cash flows from financing activities:
|
|
|
|
|
|
||
Repurchases of common shares upon the vesting of restricted shares
|
(780
|
)
|
|
(755
|
)
|
||
Acquisition of partner's interest in Fishers Station operating property
|
(3,750
|
)
|
|
—
|
|
||
Loan proceeds
|
54,200
|
|
|
178,970
|
|
||
Loan transaction costs
|
—
|
|
|
(887
|
)
|
||
Loan payments
|
(109,933
|
)
|
|
(160,597
|
)
|
||
Distributions paid – common unitholders
|
(50,553
|
)
|
|
(46,676
|
)
|
||
Distributions paid – redeemable noncontrolling interests
|
(2,053
|
)
|
|
(1,941
|
)
|
||
Distributions to noncontrolling interests
|
—
|
|
|
(193
|
)
|
||
Net cash used in financing activities
|
(112,869
|
)
|
|
(32,079
|
)
|
||
Net change in cash and cash equivalents
|
7,761
|
|
|
4,022
|
|
||
Cash and cash equivalents, beginning of period
|
19,874
|
|
|
33,880
|
|
||
Cash and cash equivalents, end of period
|
$
|
27,635
|
|
|
$
|
37,902
|
|
($ in thousands)
|
|
Balance at
|
||||||
|
|
June 30,
2017 |
|
December 31,
2016 |
||||
Investment properties, at cost:
|
|
|
|
|
||||
Land, buildings and improvements
|
|
$
|
3,830,947
|
|
|
$
|
3,885,223
|
|
Furniture, equipment and other
|
|
7,550
|
|
|
7,246
|
|
||
Land held for development
|
|
31,981
|
|
|
34,171
|
|
||
Construction in progress
|
|
69,521
|
|
|
69,425
|
|
||
|
|
$
|
3,939,999
|
|
|
$
|
3,996,065
|
|
|
2017
|
|
2016
|
||||
Noncontrolling interests balance January 1
|
$
|
692
|
|
|
$
|
773
|
|
Net income allocable to noncontrolling interests,
excluding redeemable noncontrolling interests |
6
|
|
|
118
|
|
||
Distributions to noncontrolling interests
|
—
|
|
|
(193
|
)
|
||
Noncontrolling interests balance at June 30
|
$
|
698
|
|
|
$
|
698
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||
Parent Company’s weighted average basic interest in
Operating Partnership |
97.7
|
%
|
|
97.7
|
%
|
|
97.7
|
%
|
|
97.7
|
%
|
Limited partners' weighted average basic interests in
Operating Partnership |
2.3
|
%
|
|
2.3
|
%
|
|
2.3
|
%
|
|
2.3
|
%
|
|
2017
|
|
2016
|
||||
Redeemable noncontrolling interests balance January 1
|
$
|
88,165
|
|
|
$
|
92,315
|
|
Net income allocable to redeemable noncontrolling interests
|
1,105
|
|
|
853
|
|
||
Distributions declared to redeemable noncontrolling interests
|
(2,066
|
)
|
|
(1,983
|
)
|
||
Liability reclassification due to exercise of partial redemption option by joint venture partner
|
(8,261
|
)
|
|
—
|
|
||
Other, net, including adjustments to redemption value
|
(5,892
|
)
|
|
8,994
|
|
||
Total limited partners' interests in Operating Partnership and other redeemable noncontrolling interests balance at June 30
|
$
|
73,051
|
|
|
$
|
100,179
|
|
|
|
|
|
||||
|
|
|
|
||||
Limited partners' interests in Operating Partnership
|
$
|
40,520
|
|
|
$
|
55,743
|
|
Other redeemable noncontrolling interests in certain subsidiaries
|
32,531
|
|
|
44,436
|
|
||
Total limited partners' interests in Operating Partnership and other redeemable noncontrolling interests balance at June 30
|
$
|
73,051
|
|
|
$
|
100,179
|
|
•
|
Level 1 fair value inputs are quoted prices in active markets for identical instruments to which we have access.
|
•
|
Level 2 fair value inputs are inputs other than quoted prices included in Level 1 that are observable for similar instruments, either directly or indirectly, and appropriately consider counterparty creditworthiness in the valuations.
|
•
|
Level 3 fair value inputs reflect our best estimate of inputs and assumptions market participants would use in pricing an instrument at the measurement date. The inputs are unobservable in the market and significant to the valuation estimate.
|
|
As of June 30, 2017
|
||||||||||||||
|
Principal
|
|
Unamortized Net Premiums
|
|
Unamortized Debt Issuance Costs
|
|
Total
|
||||||||
Senior unsecured notes - fixed rate
|
$
|
550,000
|
|
|
$
|
—
|
|
|
$
|
(5,916
|
)
|
|
$
|
544,084
|
|
Unsecured revolving credit facility
|
33,100
|
|
|
—
|
|
|
(2,320
|
)
|
|
30,780
|
|
||||
Unsecured term loans
|
400,000
|
|
|
—
|
|
|
(1,986
|
)
|
|
398,014
|
|
||||
Mortgage notes payable - fixed rate
|
579,105
|
|
|
10,623
|
|
|
(873
|
)
|
|
588,855
|
|
||||
Mortgage notes payable - variable rate
|
114,005
|
|
|
—
|
|
|
(674
|
)
|
|
113,331
|
|
||||
Total mortgage and other indebtedness
|
$
|
1,676,210
|
|
|
$
|
10,623
|
|
|
$
|
(11,769
|
)
|
|
$
|
1,675,064
|
|
|
As of December 31, 2016
|
||||||||||||||
|
Principal
|
|
Unamortized Net Premiums
|
|
Unamortized Debt Issuance Costs
|
|
Total
|
||||||||
Senior unsecured notes - fixed rate
|
$
|
550,000
|
|
|
$
|
—
|
|
|
$
|
(6,140
|
)
|
|
$
|
543,860
|
|
Unsecured revolving credit facility
|
79,600
|
|
|
—
|
|
|
(2,723
|
)
|
|
76,877
|
|
||||
Unsecured term loans
|
400,000
|
|
|
—
|
|
|
(2,179
|
)
|
|
397,821
|
|
||||
Mortgage notes payable - fixed rate
|
587,762
|
|
|
12,109
|
|
|
(994
|
)
|
|
598,877
|
|
||||
Mortgage notes payable - variable rate
|
114,388
|
|
|
—
|
|
|
(749
|
)
|
|
113,639
|
|
||||
Total mortgage and other indebtedness
|
$
|
1,731,750
|
|
|
$
|
12,109
|
|
|
$
|
(12,785
|
)
|
|
$
|
1,731,074
|
|
|
Outstanding Amount
|
|
Ratio
|
|
Weighted Average
Interest Rate |
|
Weighted Average
Maturity (Years) |
||||
Fixed rate debt
1
|
$
|
1,589,907
|
|
|
95
|
%
|
|
4.08
|
%
|
|
6.1
|
Variable rate debt
|
86,303
|
|
|
5
|
%
|
|
2.73
|
%
|
|
4.6
|
|
Net debt premiums and issuance costs, net
|
(1,146
|
)
|
|
N/A
|
|
|
N/A
|
|
|
N/A
|
|
Total
|
$1,675,064
|
|
100
|
%
|
|
4.01
|
%
|
|
6.0
|
____________________
|
|
1
|
Fixed rate debt includes, and variable rate date excludes, the portion of such debt that has been hedged by interest rate derivatives. As of June 30, 2017, $460.8 million in variable rate debt is hedged for a weighted average 2.3 years.
|
($ in thousands)
|
|
Six Months Ended
June 30, |
||||||
|
|
2017
|
|
2016
|
||||
Amortization of debt issuance costs
|
|
$
|
1,350
|
|
|
$
|
1,631
|
|
•
|
We retired the
$6.7 million
loan secured by our Pleasant Hill Commons operating property through a draw on our unsecured revolving credit facility (the "Credit Facility");
|
•
|
We borrowed
$47.5 million
on the Credit Facility to fund development activities, redevelopment activities, and tenant improvement costs;
|
•
|
We used the
$76.1 million
net proceeds from the sale of
four
operating properties to pay down the Credit Facility; and
|
•
|
We made scheduled principal payments on indebtedness totaling
$2.4 million
.
|
|
June 30,
2017 |
|
December 31,
2016 |
||||
Acquired lease intangible assets
|
$
|
114,432
|
|
|
$
|
125,144
|
|
Deferred leasing costs and other
|
66,662
|
|
|
63,810
|
|
||
|
181,094
|
|
|
188,954
|
|
||
Less—accumulated amortization
|
(61,395
|
)
|
|
(59,690
|
)
|
||
Total
|
$
|
119,699
|
|
|
$
|
129,264
|
|
|
Six Months Ended
June 30, |
||||||
|
2017
|
|
2016
|
||||
Amortization of deferred leasing costs, lease intangibles and other
|
$
|
12,113
|
|
|
$
|
13,242
|
|
Amortization of above market lease intangibles
|
2,199
|
|
|
3,796
|
|
|
June 30,
2017 |
|
December 31,
2016 |
||||
Unamortized in-place lease liabilities
|
$
|
86,815
|
|
|
$
|
95,360
|
|
Retainage payables and other
|
5,030
|
|
|
5,437
|
|
||
Tenant rent payments received in advance
|
11,457
|
|
|
11,405
|
|
||
Total
|
$
|
103,302
|
|
|
$
|
112,202
|
|
•
|
national and local economic, business, real estate and other market conditions, particularly in light of low growth in the U.S. economy as well as economic uncertainty caused by fluctuations in the prices of oil and other energy sources;
|
•
|
financing risks, including the availability of, and costs associated with, sources of liquidity;
|
•
|
our ability to refinance, or extend the maturity dates of, our indebtedness;
|
•
|
the level and volatility of interest rates;
|
•
|
the financial stability of tenants, including their ability to pay rent and the risk of tenant bankruptcies;
|
•
|
the competitive environment in which we operate;
|
•
|
acquisition, disposition, development and joint venture risks;
|
•
|
property ownership and management risks;
|
•
|
our ability to maintain our status as a real estate investment trust for federal income tax purposes;
|
•
|
potential environmental and other liabilities;
|
•
|
impairment in the value of real estate property we own;
|
•
|
the impact of online retail and the perception that such retail has on the value of shopping center assets;
|
•
|
risks related to the geographical concentration of our properties in Florida, Indiana and Texas;
|
•
|
insurance costs and coverage;
|
•
|
risks associated with cybersecurity attacks and the loss of confidential information and other business disruptions;
|
•
|
other factors affecting the real estate industry generally; and
|
•
|
other risks identified in this Quarterly Report on Form 10-Q and, from time to time, in other reports we file with the Securities and Exchange Commission (the “SEC”) or in other documents that we publicly disseminate, including, in particular, the section titled “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31,
2016
.
|
•
|
Parkside Town Commons – Phase II
near Raleigh, North Carolina
–
Phase II of this development is anchored by Frank CineBowl and Grille, Golf Galaxy, Stein Mart, and Hobby Lobby. We transitioned Parkside Town Commons –
Phase II to the operating portfolio at the end of the second quarter of 2017 at which date the property was 95.4% leased.
|
•
|
Holly Springs Towne Center – Phase II
near Raleigh, North Carolina – Phase II of this development is anchored by Bed Bath & Beyond, DSW, and Carmike Theatres. We transitioned Phase II to the operating portfolio in the second quarter of 2016. Subsequently, we began construction on an expansion of Phase II in the fourth quarter of 2016. We have a signed lease for 23,000 square feet with O2 Fitness for this expansion, and we expect to deliver the space in the fourth quarter of 2017.
|
•
|
Under Construction Redevelopment, Reposition, and Repurpose (
“
3-R
”
) Projects.
Our 3-R initiative, which includes a total of 14 projects under construction or active evaluation for modification, continued to progress in the second quarter of 2017. There are a total of seven projects currently under construction, which have an estimated combined annualized return of approximately 8% to 9%, with aggregate costs for these projects expected to range between $68.5 million to $74.0 million.
|
◦
|
Centennial Gateway
in Las Vegas, Nevada – We completed the recapture of an existing anchor space and executed a lease with Trader Joe's, which opened in June 2017. Total costs were $1.1 million and the projected annual return is 30.0%.
|
◦
|
Market Street Village
in Fort Worth, Texas – We completed the recapture of a 15,000 square foot anchor space and executed a lease with Party City, which opened in April 2017. Total costs were $0.8 million and the projected annual return is 30.9%.
|
◦
|
Northdale Promenade
in Tampa, Florida – We completed the rightsizing and demolition of small shop space to add Ulta Beauty, which opened in 2016, and Tuesday Morning, which opened in July 2017. Total costs were $4.2 million and the projected annual return is 14.4%.
|
◦
|
Rampart
Commons
in Las Vegas, Nevada – This project will be anchored by Williams Sonoma, Pottery Barn, Ann Taylor, North Italia, Flower Child, Honey Salt and P.F. Chang's. We expect total costs for this project to range between $16 million to $17 million, with an estimated annualized return of approximately 7.0% to 7.5%.
|
Property Name
|
|
MSA
|
|
Disposition Date
|
|
Owned GLA
|
|
Shops at Otty
|
|
Portland, OR
|
|
June 2016
|
|
9,845
|
|
Publix at St. Cloud
|
|
St. Cloud, FL
|
|
December 2016
|
|
78,820
|
|
Cove Center
|
|
Stuart, FL
|
|
March 2017
|
|
155,063
|
|
Clay Marketplace
|
|
Birmingham, AL
|
|
June 2017
|
|
63,107
|
|
The Shops at Village Walk
|
|
Fort Myers, FL
|
|
June 2017
|
|
78,533
|
|
Wheatland Towne Crossing
|
|
Dallas, TX
|
|
June 2017
|
|
194,727
|
|
Property Name
|
|
MSA
|
|
Transition to Operating Portfolio
|
|
Owned GLA
|
|
Tamiami Crossing
|
|
Naples, FL
|
|
June 2016
|
|
121,705
|
|
Holly Springs Towne Center – Phase II
|
|
Raleigh, NC
|
|
June 2016
|
|
122,009
|
|
Parkside Town Commons – Phase II
|
|
Raleigh, NC
|
|
June 2017
|
|
291,681
|
|
Property Name
|
|
MSA
|
|
Transition to
Redevelopment
1
|
|
Transition to Operations
|
|
Owned GLA
|
|
Courthouse Shadows
2
|
|
Naples, FL
|
|
June 2013
|
|
Pending
|
|
124,802
|
|
Hamilton Crossing Centre
2
|
|
Indianapolis, IN
|
|
June 2014
|
|
Pending
|
|
92,283
|
|
City Center
2
|
|
White Plains, NY
|
|
December 2015
|
|
Pending
|
|
384,651
|
|
Fishers Station
2
|
|
Indianapolis, IN
|
|
December 2015
|
|
Pending
|
|
175,229
|
|
Beechwood Promenade
2
|
|
Athens, GA
|
|
December 2015
|
|
Pending
|
|
348,815
|
|
The Corner
2
|
|
Indianapolis, IN
|
|
December 2015
|
|
Pending
|
|
26,500
|
|
Rampart Commons
2
|
|
Las Vegas, NV
|
|
March 2016
|
|
Pending
|
|
81,292
|
|
Northdale Promenade
3
|
|
Tampa, FL
|
|
March 2016
|
|
June 2017
|
|
179,680
|
|
Burnt Store
2
|
|
Punta Gorda, FL
|
|
June 2016
|
|
Pending
|
|
95,787
|
|
____________________
|
|
1
|
Transition date represents the date the property was transferred from our operating portfolio into redevelopment status.
|
2
|
This property has been identified as a redevelopment property and is not included in the operating portfolio or the same property pool.
|
3
|
This property was transitioned to the operating portfolio as of June 30, 2017; however, it remains excluded from the same property pool because it has not been in the operating portfolio for the full period presented (12 months).
|
($ in thousands)
|
2017
|
|
2016
|
|
Net change 2016 to 2017
|
||||||
Revenue:
|
|
|
|
|
|
||||||
Rental income (including tenant reimbursements)
|
$
|
86,916
|
|
|
$
|
85,461
|
|
|
$
|
1,455
|
|
Other property related revenue
|
5,733
|
|
|
2,114
|
|
|
3,619
|
|
|||
Total revenue
|
92,649
|
|
|
87,575
|
|
|
5,074
|
|
|||
Expenses:
|
|
|
|
|
|
||||||
Property operating
|
12,139
|
|
|
11,346
|
|
|
793
|
|
|||
Real estate taxes
|
11,228
|
|
|
10,503
|
|
|
725
|
|
|||
General, administrative, and other
|
5,488
|
|
|
4,856
|
|
|
632
|
|
|||
Transaction costs
|
—
|
|
|
2,771
|
|
|
(2,771
|
)
|
|||
Depreciation and amortization
|
42,710
|
|
|
43,841
|
|
|
(1,131
|
)
|
|||
Total expenses
|
71,565
|
|
|
73,317
|
|
|
(1,752
|
)
|
|||
Operating income
|
21,084
|
|
|
14,258
|
|
|
6,826
|
|
|||
Interest expense
|
(16,433
|
)
|
|
(15,500
|
)
|
|
(933
|
)
|
|||
Income tax expense of taxable REIT subsidiary
|
(3
|
)
|
|
(338
|
)
|
|
335
|
|
|||
Other expense, net
|
(80
|
)
|
|
(110
|
)
|
|
30
|
|
|||
Income (loss) from continuing operations
|
4,568
|
|
|
(1,690
|
)
|
|
6,258
|
|
|||
Gains on sales of operating properties
|
6,290
|
|
|
194
|
|
|
6,096
|
|
|||
Consolidated net income (loss)
|
10,858
|
|
|
(1,496
|
)
|
|
12,354
|
|
|||
Net income attributable to noncontrolling interests
|
(678
|
)
|
|
(399
|
)
|
|
(279
|
)
|
|||
Net income (loss) attributable to Kite Realty Group Trust common shareholders
|
$
|
10,180
|
|
|
$
|
(1,895
|
)
|
|
$
|
12,075
|
|
|
|
|
|
|
|
||||||
Property operating expense to total revenue ratio
|
13.1
|
%
|
|
13.0
|
%
|
|
|
($ in thousands)
|
Net change 2016 to 2017
|
||
Properties sold during 2016 and 2017
|
$
|
(1,014
|
)
|
Properties under redevelopment during 2016 and/or 2017
|
(818
|
)
|
|
Properties fully operational during 2016 and 2017 and other
|
3,287
|
|
|
Total
|
$
|
1,455
|
|
($ in thousands)
|
Net change 2016 to 2017
|
||
Properties sold during 2016 and 2017
|
$
|
(158
|
)
|
Properties under redevelopment during 2016 and/or 2017
|
43
|
|
|
Properties fully operational during 2016 and 2017 and other
|
908
|
|
|
Total
|
$
|
793
|
|
($ in thousands)
|
Net change 2016 to 2017
|
||
Properties sold during 2016 and 2017
|
$
|
(199
|
)
|
Properties under redevelopment during 2016 and/or 2017
|
20
|
|
|
Properties fully operational during 2016 and 2017 and other
|
904
|
|
|
Total
|
$
|
725
|
|
($ in thousands)
|
Net change 2016 to 2017
|
||
Properties sold during 2016 and 2017
|
$
|
(865
|
)
|
Properties under redevelopment during 2016 and/or 2017
|
954
|
|
|
Properties fully operational during 2016 and 2017 and other
|
(1,220
|
)
|
|
Total
|
$
|
(1,131
|
)
|
($ in thousands)
|
2017
|
|
2016
|
|
Net change 2016 to 2017
|
||||||
Revenue:
|
|
|
|
|
|
||||||
Rental income (including tenant reimbursements)
|
$
|
174,432
|
|
|
$
|
171,079
|
|
|
$
|
3,353
|
|
Other property related revenue
|
8,330
|
|
|
5,046
|
|
|
3,284
|
|
|||
Total revenue
|
182,762
|
|
|
176,125
|
|
|
6,637
|
|
|||
Expenses:
|
|
|
|
|
|
||||||
Property operating
|
25,091
|
|
|
23,538
|
|
|
1,553
|
|
|||
Real estate taxes
|
21,559
|
|
|
21,637
|
|
|
(78
|
)
|
|||
General, administrative, and other
|
10,958
|
|
|
10,147
|
|
|
811
|
|
|||
Transaction costs
|
—
|
|
|
2,771
|
|
|
(2,771
|
)
|
|||
Impairment charge
|
7,411
|
|
|
—
|
|
|
7,411
|
|
|||
Depreciation and amortization
|
88,540
|
|
|
86,082
|
|
|
2,458
|
|
|||
Total expenses
|
153,559
|
|
|
144,175
|
|
|
9,384
|
|
|||
Operating income
|
29,203
|
|
|
31,950
|
|
|
(2,747
|
)
|
|||
Interest expense
|
(32,878
|
)
|
|
(30,825
|
)
|
|
(2,053
|
)
|
|||
Income tax benefit (expense) of taxable REIT subsidiary
|
30
|
|
|
(748
|
)
|
|
778
|
|
|||
Other expense, net
|
(219
|
)
|
|
(94
|
)
|
|
(125
|
)
|
|||
(Loss) income from continuing operations
|
(3,864
|
)
|
|
283
|
|
|
(4,147
|
)
|
|||
Gains on sales of operating properties
|
15,160
|
|
|
194
|
|
|
14,966
|
|
|||
Consolidated net income
|
11,296
|
|
|
477
|
|
|
10,819
|
|
|||
Net income attributable to noncontrolling interests
|
(1,110
|
)
|
|
(971
|
)
|
|
(139
|
)
|
|||
Net income (loss) attributable to Kite Realty Group Trust common shareholders
|
$
|
10,186
|
|
|
$
|
(494
|
)
|
|
$
|
10,680
|
|
|
|
|
|
|
|
||||||
Property operating expense to total revenue ratio
|
13.7
|
%
|
|
13.4
|
%
|
|
|
($ in thousands)
|
Net change 2016 to 2017
|
||
Properties sold during 2016 and 2017
|
$
|
(1,720
|
)
|
Properties under redevelopment during 2016 and/or 2017
|
(119
|
)
|
|
Properties fully operational during 2016 and 2017 and other
|
5,192
|
|
|
Total
|
$
|
3,353
|
|
($ in thousands)
|
Net change 2016 to 2017
|
||
Properties sold during 2016 and 2017
|
$
|
(353
|
)
|
Properties under redevelopment during 2016 and/or 2017
|
34
|
|
|
Properties fully operational during 2016 and 2017 and other
|
1,872
|
|
|
Total
|
$
|
1,553
|
|
($ in thousands)
|
Net change 2016 to 2017
|
||
Properties sold during 2016 and 2017
|
$
|
(248
|
)
|
Properties under redevelopment during 2016 and/or 2017
|
72
|
|
|
Properties fully operational during 2016 and 2017 and other
|
98
|
|
|
Total
|
$
|
(78
|
)
|
($ in thousands)
|
Net change 2016 to 2017
|
||
Properties sold during 2016 and 2017
|
$
|
(1,122
|
)
|
Properties under redevelopment during 2016 and/or 2017
|
3,640
|
|
|
Properties fully operational during 2016 and 2017 and other
|
(60
|
)
|
|
Total
|
$
|
2,458
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
||||||||||||||||
($ in thousands)
|
2017
|
|
2016
|
|
% Change
|
|
2017
|
|
2016
|
|
% Change
|
||||||||
Number of properties for the quarter
1
|
102
|
|
|
102
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Leased percentage at period end
|
94.3
|
%
|
|
95.1
|
%
|
|
|
|
94.3
|
%
|
|
95.1
|
%
|
|
|
||||
Economic Occupancy percentage
2
|
93.8
|
%
|
|
92.7
|
%
|
|
|
|
93.9
|
%
|
|
93.0
|
%
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Same Property NOI
3
|
$
|
54,492
|
|
|
$
|
52,782
|
|
|
3.2%
|
|
$
|
110,587
|
|
|
$
|
107,197
|
|
|
3.2%
|
Same Property NOI - excluding the impact of the 3-R initiative
|
|
|
|
|
3.8%
|
|
|
|
|
|
3.9%
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Reconciliation of Same Property NOI to Most Directly Comparable GAAP Measure:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net operating income - same properties
|
$
|
54,492
|
|
|
$
|
52,782
|
|
|
|
|
$
|
110,587
|
|
|
$
|
107,197
|
|
|
|
Net operating income - non-same activity
4
|
14,790
|
|
|
12,944
|
|
|
|
|
25,525
|
|
|
23,753
|
|
|
|
||||
Other expense, net
|
(83
|
)
|
|
(448
|
)
|
|
|
|
(189
|
)
|
|
(842
|
)
|
|
|
||||
General, administrative and other
|
(5,488
|
)
|
|
(4,856
|
)
|
|
|
|
(10,958
|
)
|
|
(10,147
|
)
|
|
|
||||
Transaction costs
|
—
|
|
|
(2,771
|
)
|
|
|
|
—
|
|
|
(2,771
|
)
|
|
|
||||
Impairment charge
|
—
|
|
|
—
|
|
|
|
|
(7,411
|
)
|
|
—
|
|
|
|
||||
Depreciation and amortization expense
|
(42,710
|
)
|
|
(43,841
|
)
|
|
|
|
(88,540
|
)
|
|
(86,082
|
)
|
|
|
||||
Interest expense
|
(16,433
|
)
|
|
(15,500
|
)
|
|
|
|
(32,878
|
)
|
|
(30,825
|
)
|
|
|
||||
Gains on sales of operating properties
|
6,290
|
|
|
194
|
|
|
|
|
15,160
|
|
|
194
|
|
|
|
||||
Net income attributable to noncontrolling interests
|
(678
|
)
|
|
(399
|
)
|
|
|
|
(1,110
|
)
|
|
(971
|
)
|
|
|
||||
Net income (loss) attributable to common shareholders
|
$
|
10,180
|
|
|
$
|
(1,895
|
)
|
|
|
|
$
|
10,186
|
|
|
$
|
(494
|
)
|
|
|
____________________
|
||||||||||||
1
|
Same Property NOI excludes eight properties in redevelopment,
the recently completed Northdale Promenade as well as
office properties (Thirty South Meridian and Eddy Street Commons).
|
|||||||||||
2
|
Excludes leases that are signed but for which tenants have not yet commenced the payment of cash rent. Calculated as a weighted average based on the timing of cash rent commencement and expiration during the period.
|
|||||||||||
3
|
Same Property NOI excludes net gains from outlot sales, straight-line rent revenue, bad debt expense and recoveries, lease termination fees, amortization of lease intangibles and significant prior period expense recoveries and adjustments, if any.
|
|||||||||||
4
|
Includes non-cash activity across the portfolio as well as net operating income from properties not included in the same property pool.
|
|
Year to Date –
|
|
Cumulative –
|
||||
($ in thousands)
|
June 30,
2017 |
|
June 30,
2017 |
||||
Development Project
|
$
|
240
|
|
|
$
|
240
|
|
Under Construction 3-R Projects
|
15,850
|
|
|
N/A
|
|
||
3-R Opportunities
|
1,866
|
|
|
N/A
|
|
||
Recently completed developments/redevelopments and other
1
|
5,703
|
|
|
N/A
|
|
||
Recurring operating capital expenditures (primarily tenant improvement payments)
|
11,288
|
|
|
N/A
|
|
||
Total
|
$
|
34,947
|
|
|
$
|
240
|
|
____________________
|
|
1
|
This classification includes Parkside Town Commons - Phase II, Holly Springs Towne Center - Phase II, Centennial Gateway, Market Street Village and Northdale Promenade.
|
($ in thousands)
|
Scheduled Principal Payments
|
|
Term Maturity
1
|
|
Total
|
||||||
2017
|
$
|
2,560
|
|
|
$
|
—
|
|
|
$
|
2,560
|
|
2018
|
5,635
|
|
|
37,584
|
|
|
43,219
|
|
|||
2019
|
5,975
|
|
|
—
|
|
|
5,975
|
|
|||
2020
|
5,920
|
|
|
42,338
|
|
|
48,258
|
|
|||
2021
|
4,627
|
|
|
392,974
|
|
|
397,601
|
|
|||
Thereafter
|
8,349
|
|
|
1,170,248
|
|
|
1,178,597
|
|
|||
|
$
|
33,066
|
|
|
$
|
1,643,144
|
|
|
$
|
1,676,210
|
|
Unamortized net debt premiums and issuance costs, net
|
|
|
|
|
|
|
(1,146
|
)
|
|||
Total
|
|
|
|
|
|
|
$
|
1,675,064
|
|
____________________
|
|
1
|
This presentation reflects the Company's exercise of its option to extend the maturity date by one year to July 28, 2021 for the Company's unsecured credit facility.
|
•
|
Net proceeds of
$76.1 million
related to the sale of Cove Center in March 2017 and Clay Marketplace, The Shops at Village Walk and Wheatland Towne Crossing in June 2017, compared to net proceeds of
$0.1 million
over the same period in 2016;
|
•
|
Decrease in capital expenditures of
$9.3 million
, partially offset by a decrease in construction payables of
$1.6 million
. In 2017, we incurred additional construction costs at our Parkside Towne Commons - Phase II and Holly Springs Towne Center - Phase II development projects, and additional construction costs at several of our redevelopment properties.
|
•
|
We retired the
$6.7 million
loan secured by our Pleasant Hill Commons operating property using a draw on the unsecured revolving credit facility;
|
•
|
We borrowed
$47.5 million
on the unsecured revolving credit facility to fund development activities, redevelopment activities, and tenant improvement costs;
|
•
|
We used the
$76.1 million
proceeds from the sale of four operating properties to pay down the unsecured revolving credit facility; and
|
•
|
We made distributions to common shareholders and Common Unit holders of
$52.6 million
.
|
($ in thousands)
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Consolidated net income (loss)
|
$
|
10,858
|
|
|
$
|
(1,496
|
)
|
|
$
|
11,296
|
|
|
$
|
477
|
|
Less: net income attributable to noncontrolling interests in properties
|
(438
|
)
|
|
(461
|
)
|
|
(870
|
)
|
|
(922
|
)
|
||||
Less: gains on sales of operating properties
|
(6,290
|
)
|
|
(194
|
)
|
|
(15,160
|
)
|
|
(194
|
)
|
||||
Add: impairment charge
|
—
|
|
|
—
|
|
|
7,411
|
|
|
—
|
|
||||
Add: depreciation and amortization of consolidated entities, net of noncontrolling interests
|
42,050
|
|
|
43,545
|
|
|
87,416
|
|
|
85,599
|
|
||||
FFO of the Operating Partnership
1
|
46,180
|
|
|
41,394
|
|
|
90,093
|
|
|
84,960
|
|
||||
Less: Limited Partners' interests in FFO
|
(1,056
|
)
|
|
(809
|
)
|
|
(2,045
|
)
|
|
(1,790
|
)
|
||||
Funds From Operations attributable to Kite Realty Group Trust common shareholders
1
|
$
|
45,124
|
|
|
$
|
40,585
|
|
|
$
|
88,048
|
|
|
$
|
83,170
|
|
|
|
|
|
|
|
|
|
||||||||
FFO of the Operating Partnership
1
|
$
|
46,180
|
|
|
$
|
41,394
|
|
|
$
|
90,093
|
|
|
$
|
84,960
|
|
Add: transaction costs
|
—
|
|
|
2,771
|
|
|
—
|
|
|
2,771
|
|
||||
Add: severance charge
|
—
|
|
|
—
|
|
|
—
|
|
|
500
|
|
||||
FFO, as adjusted, of the Operating Partnership
|
$
|
46,180
|
|
|
$
|
44,165
|
|
|
$
|
90,093
|
|
|
$
|
88,231
|
|
____________________
|
|
1
|
“FFO of the Operating Partnership" measures 100% of the operating performance of the Operating Partnership’s real estate properties. “FFO attributable to Kite Realty Group Trust common shareholders” reflects a reduction for the redeemable noncontrolling weighted average diluted interest in the Operating Partnership.
|
($ in thousands)
|
Three Months Ended
June 30, 2017 |
||
Consolidated net income
|
$
|
10,858
|
|
Adjustments to net income
|
|
|
|
Depreciation and amortization
|
42,710
|
|
|
Interest expense
|
16,433
|
|
|
Income tax benefit of taxable REIT subsidiary
|
3
|
|
|
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)
|
70,004
|
|
|
Adjustments to EBITDA:
|
|
||
Unconsolidated EBITDA
|
34
|
|
|
Gain on sale of operating property
|
(6,290
|
)
|
|
Pro-forma adjustments
1
|
(3,369
|
)
|
|
Other income and expense, net
|
80
|
|
|
Noncontrolling interest
|
(432
|
)
|
|
Adjusted EBITDA
|
60,027
|
|
|
|
|
||
Annualized Adjusted EBITDA
2
|
$
|
240,108
|
|
|
|
||
Company share of net debt:
|
|
|
|
Mortgage and other indebtedness
|
1,675,064
|
|
|
Less: Partner share of consolidated joint venture debt
3
|
(13,373
|
)
|
|
Less: Cash, cash equivalents, and restricted cash
|
(36,352
|
)
|
|
Less: Net debt premiums and issuance costs, net
|
1,146
|
|
|
Company Share of Net Debt
|
1,626,485
|
|
|
Net Debt to Adjusted EBITDA
|
6.77x
|
|
____________________
|
|
1
|
Relates to (a) a reduction reflecting the second quarter GAAP operating income of $0.8 million for properties sold during the second quarter of 2017, which adjustment to EBITDA (an income measure) corresponds with the use of proceeds from such sales to pay down the Credit Facility, as reflected in the change in net debt (a balance sheet measure) for the period ending June 30, 2017, and (b) a reduction of approximately $2.6 million in other property related revenue to normalize the impact on comparability of a $4.9 million net gain from the sale of an outlot at Cove Center during the second quarter of 2017 to the Company's quarterly average of other property related revenue.
|
2
|
Represents Adjusted EBITDA for the three months ended June 30, 2017 (as shown in the table above) multiplied by four.
|
3
|
Partner share of consolidated joint venture debt is calculated based upon the partner's pro-rata ownership of the joint venture, multiplied by the related secured debt balance. In all cases, this debt is the responsibility of the consolidated joint venture.
|
Item 3.
|
Quantitative and Qualitative Disclosures About Market Risk
|
Item 4.
|
Controls and Procedures
|
Item 1.
|
Legal Proceedings
|
Item 1A.
|
Risk Factors
|
Item 2.
|
Unregistered Sales of Equity Securities and Use of Proceeds
|
Period
|
|
Total number
of shares
purchased
1
|
|
Average price
paid per share
|
|
Total number of
shares purchased
as part of publicly
announced plans
or programs
|
|
Maximum number
of shares that may
yet be purchased
under the plans or
programs
|
||||
April 1 - April 30
|
|
—
|
|
|
—
|
|
|
N/A
|
|
|
N/A
|
|
May 1 - May 31
|
|
3,779
|
|
|
$
|
19.98
|
|
|
—
|
|
|
N/A
|
June 1 - June 30
|
|
—
|
|
|
—
|
|
|
N/A
|
|
|
N/A
|
|
Total
|
|
3,779
|
|
|
|
|
|
|
|
____________________
|
|
1
|
The number of shares purchased represents common shares surrendered by certain of our employees to satisfy their statutory minimum federal and state tax obligations associated with the vesting of restricted common shares of beneficial interest issued under our 2013 Plan. With respect to these shares, the price paid per share is based on the closing price of our common shares as of the date of the determination of the statutory minimum federal and state tax obligations.
|
Item 3.
|
Defaults Upon Senior Securities
|
Item 4.
|
Mine Safety Disclosures
|
Item 5.
|
Other Information
|
Item 6.
|
Exhibits
|
Exhibit No.
|
|
Description
|
|
Location
|
3.1
|
|
Articles of Amendment and Restatement of Declaration of Trust of the Company, as supplemented and amended
|
|
Incorporated by reference to Exhibit 3.1 to the Annual Report on Form 10-K of Kite Realty Group Trust filed with the SEC on February 27, 2015
|
|
|
|
|
|
3.2
|
|
Articles of Amendment to the Articles of Amendment and Restatement of Declaration of Trust of the Company, as supplemented and amended
|
|
Incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K of Kite Realty Group Trust filed with the SEC on May 28, 2015
|
|
|
|
|
|
3.3
|
|
Second Amended and Restated Bylaws of the Company, as amended
|
|
Incorporated by reference to Exhibit 3.2 to the Annual Report on Form 10-K of Kite Realty Group Trust filed with the SEC on February 27, 2015
|
|
|
|
|
|
3.4
|
|
First Amendment to the Second Amended and Restated Bylaws of Kite Realty Group Trust, as amended
|
|
Incorporated by reference to Exhibit 3.2 to the Current Report on Form 8-K of Kite Realty Group Trust filed with the SEC on May 28, 2015
|
|
|
|
|
|
4.1
|
|
Form of Common Share Certificate
|
|
Incorporated by reference to Exhibit 4.1 to Kite Realty Group Trust's registration statement on Form S-11 (File No. 333-114224) declared effective by the SEC on August 10, 2004
|
|
|
|
|
|
4.2
|
|
Indenture, dated September 26, 2016, between Kite Realty Group, L.P., as issuer, and U.S. Bank National Association, as trustee
|
|
Incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K of Kite Realty Group Trust filed with the SEC on September 27, 2016
|
|
|
|
|
|
4.3
|
|
First Supplemental Indenture, dated September 26, 2016, among Kite Realty Group, L.P., Kite Realty Group Trust, as possible future guarantor, and U.S. Bank National Association
|
|
Incorporated by reference to Exhibit 4.2 to the Current Report on Form 8-K of Kite Realty Group Trust filed with the SEC on September 27, 2016
|
|
|
|
|
|
4.4
|
|
Form of Global Note representing the Notes
|
|
Incorporated by reference to Exhibits 4.2 and 4.3 to the Current Report on Form 8-K of Kite Realty Group Trust filed with the SEC on September 27, 2016
|
|
|
|
|
|
31.1
|
|
Certification of principal executive officer of the Parent Company required by Rule 13a-14(a)/15d-14(a) under the Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
Filed herewith
|
|
|
|
|
|
31.2
|
|
Certification of principal financial officer of the Parent Company required by Rule 13a-14(a)/15d-14(a) under the Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
Filed herewith
|
|
|
|
|
|
31.3
|
|
Certification of principal executive officer of the Operating Partnership required by Rule 13a-14(a)/15d-14(a) under the Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
Filed herewith
|
|
|
|
|
|
31.4
|
|
Certification of principal financial officer of the Operating Partnership required by Rule 13a-14(a)/15d-14(a) under the Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
Filed herewith
|
|
|
|
|
|
32.1
|
|
Certification of Chief Executive Officer and Chief Financial Officer of the Parent Company pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
|
Filed herewith
|
|
|
|
|
|
32.2
|
|
Certification of Chief Executive Officer and Chief Financial Officer of the Operating Partnership pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
|
Filed herewith
|
|
|
|
|
|
101.INS
|
|
XBRL Instance Document
|
|
Filed herewith
|
|
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
Filed herewith
|
|
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
Filed herewith
|
|
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
Filed herewith
|
|
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
Filed herewith
|
|
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
Filed herewith
|
|
KITE REALTY GROUP TRUST
|
|
|
|
|
August 4, 2017
|
By:
|
/s/ John A. Kite
|
(Date)
|
|
John A. Kite
|
|
|
Chairman and Chief Executive Officer
|
|
|
(Principal Executive Officer)
|
|
|
|
|
|
|
August 4, 2017
|
By:
|
/s/ Daniel R. Sink
|
(Date)
|
|
Daniel R. Sink
|
|
|
Chief Financial Officer
|
|
|
(Principal Financial Officer)
|
Exhibit No.
|
|
Description
|
|
Location
|
3.1
|
|
Articles of Amendment and Restatement of Declaration of Trust of the Company, as supplemented and amended
|
|
Incorporated by reference to Exhibit 3.1 to the Annual Report on Form 10-K of Kite Realty Group Trust filed with the SEC on February 27, 2015
|
|
|
|
|
|
3.2
|
|
Articles of Amendment to the Articles of Amendment and Restatement of Declaration of Trust of the Company, as supplemented and amended
|
|
Incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K of Kite Realty Group Trust filed with the SEC on May 28, 2015
|
|
|
|
|
|
3.3
|
|
Second Amended and Restated Bylaws of the Company, as amended
|
|
Incorporated by reference to Exhibit 3.2 to the Annual Report on Form 10-K of Kite Realty Group Trust filed with the SEC on February 27, 2015
|
|
|
|
|
|
3.4
|
|
First Amendment to the Second Amended and Restated Bylaws of Kite Realty Group Trust, as amended
|
|
Incorporated by reference to Exhibit 3.2 to the Current Report on Form 8-K of Kite Realty Group Trust filed with the SEC on May 28, 2015
|
|
|
|
|
|
4.1
|
|
Form of Common Share Certificate
|
|
Incorporated by reference to Exhibit 4.1 to Kite Realty Group Trust's registration statement on Form S-11 (File No. 333-114224) declared effective by the SEC on August 10, 2004
|
|
|
|
|
|
4.2
|
|
Indenture, dated September 26, 2016, between Kite Realty Group, L.P., as issuer, and U.S. Bank National Association, as trustee
|
|
Incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K of Kite Realty Group Trust filed with the SEC on September 27, 2016
|
|
|
|
|
|
4.3
|
|
First Supplemental Indenture, dated September 26, 2016, among Kite Realty Group, L.P., Kite Realty Group Trust, as possible future guarantor, and U.S. Bank National Association
|
|
Incorporated by reference to Exhibit 4.2 to the Current Report on Form 8-K of Kite Realty Group Trust filed with the SEC on September 27, 2016
|
|
|
|
|
|
4.4
|
|
Form of Global Note representing the Notes
|
|
Incorporated by reference to Exhibits 4.2 and 4.3 to the Current Report on Form 8-K of Kite Realty Group Trust filed with the SEC on September 27, 2016
|
|
|
|
|
|
31.1
|
|
Certification of principal executive officer of the Parent Company required by Rule 13a-14(a)/15d-14(a) under the Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
Filed herewith
|
|
|
|
|
|
31.2
|
|
Certification of principal financial officer of the Parent Company required by Rule 13a-14(a)/15d-14(a) under the Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
Filed herewith
|
|
|
|
|
|
31.3
|
|
Certification of principal executive officer of the Operating Partnership required by Rule 13a-14(a)/15d-14(a) under the Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
Filed herewith
|
|
|
|
|
|
31.4
|
|
Certification of principal financial officer of the Operating Partnership required by Rule 13a-14(a)/15d-14(a) under the Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
Filed herewith
|
|
|
|
|
|
32.1
|
|
Certification of Chief Executive Officer and Chief Financial Officer of the Parent Company pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
|
Filed herewith
|
|
|
|
|
|
32.2
|
|
Certification of Chief Executive Officer and Chief Financial Officer of the Operating Partnership pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
|
Filed herewith
|
|
|
|
|
|
101.INS
|
|
XBRL Instance Document
|
|
Filed herewith
|
|
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
Filed herewith
|
|
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
Filed herewith
|
|
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
Filed herewith
|
|
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
Filed herewith
|
|
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
Filed herewith
|
1 Year Kite Realty Chart |
1 Month Kite Realty Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions