Company Overview - Kite Realty Group (NYSE: KRG) is a real estate investment trust (REIT) that owns and operates a portfolio of open-air shopping centers and mixed-use destinations, primarily located in high-growth Sun Belt and strategic gateway markets [2] - As of December 31, 2025, the company owned interests in 169 U.S. open-air shopping centers and mixed-use assets, totaling approximately 27.3 million square feet of gross leasable space [2] - The company has over six decades of experience in real estate development, operation, and investment, focusing on enhancing portfolio quality and maximizing long-term value for stakeholders [2] Upcoming Events - Kite Realty Group will present at the Citi 2026 Global Property CEO Conference on March 2, 2026, at 11:40 a.m. EST [1] - The presentation will include the KRG Q4 2025 Investor Update, and a replay of the webcast will be available on the company's website after the conference [1]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-32268 Kite Realty Group Trust Commission File Number: 333-202666-01 Kite Realty Group, L.P. KITE REALTY GROUP TRUST KITE REALTY GROUP, L.P. (Exact ...

Financial Data and Key Metrics Changes - Kite Realty Group reported $0.52 of NAREIT FFO per share and $0.51 of Core FFO per share in Q4 2025, with full-year results of $2.10 and $2.06 respectively, reflecting a 3.5% year-over-year growth in Core FFO per share [15][16] - Same property NOI growth for the full year was 2.9%, exceeding original guidance by 115 basis points, with an average growth of 4% over the past four years [16][19] - The company maintained a net debt to EBITDA ratio of 4.9 times, below its long-term target range of 5-5.5 times [20] Business Line Data and Key Metrics Changes - The lease rate increased by 120 basis points sequentially, driven by strong demand, particularly from anchor tenants, with 9 anchor leases signed in Q4 and 28 for the full year [7][8] - Small shop lease rates increased by 50 basis points sequentially and 110 basis points year-over-year, indicating a steady upward trend over the last five years [8] Market Data and Key Metrics Changes - The company sold approximately $622 million of non-core assets, reducing the percentage of ABR from power centers by 400 basis points and increasing exposure to neighborhood, grocery, lifestyle, and mixed-use assets [6][11] - The signed-not-open pipeline grew by $4 million sequentially to $37 million of NOI, with 70% expected to come online in 2026 [16] Company Strategy and Development Direction - The company aims to focus on higher long-term organic growth by shedding lower growth assets and negotiating better annual rent bumps, targeting 200 basis points of embedded escalators in the portfolio [9][12] - Development activities include a significant expansion at One Loudoun, adding retail, office, hotel, and multifamily units to a premier mixed-use asset [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational momentum and the ability to capitalize on it in 2026 and beyond, emphasizing the importance of optimizing and de-risking the portfolio [15][20] - The guidance for 2026 includes NAREIT and Core FFO per share ranges between $2.06 and $2.12, with expectations of lower growth in the first half of the year followed by acceleration [17][18] Other Important Information - The company executed $300 million in stock buybacks at a significant discount to NAV, viewing it as a clear yield arbitrage opportunity [7][12] - The balance sheet remains strong with over $1 billion in liquidity, allowing for flexibility in capital allocation [20] Q&A Session Summary Question: Expectations on non-core dispositions pricing - Management indicated that pricing for non-core dispositions would be similar to 2025, with a healthy market demand for such products [24] Question: 1031 acquisitions product type - The focus remains on moving away from larger format centers towards neighborhood grocery and lifestyle mixed-use assets, with considerations for tax management [26][28] Question: Key factors driving guidance range - Factors include lower bad debt, rent commencement dates, and timing of transactional activities, with a focus on visibility for guidance [33][34] Question: Update on City Center disposition - The City Center is actively being remarketed, with a weighted average transactional date expected in August [41] Question: Broader acquisition environment - The market is active with strong bids across retail, and the company is underwriting several opportunities while focusing on embedded rent growth [44][45] Question: Components of bad debt expectations - A general reserve of 100 basis points was set, primarily due to specific tenants, with a focus on monitoring the situation throughout the year [50][51] Question: Flow-through from same-property NOI to FFO growth - Limitations on flow-through are attributed to recurring unpredictable items and non-cash items from previous mergers, which are expected to normalize [66] Question: Share repurchase strategy - The company continues to evaluate share repurchases based on market conditions and the potential for future growth, maintaining a focus on a healthy balance sheet [70][71]

Kite Realty Group Trust (NYSE:KRG) Q4 2025 Earnings call February 17, 2026 11:00 AM ET Company ParticipantsBrian McCarthy - Senior Vice President, Corporate Marketing and CommunicationsHeath Fear - EVP and CFOJohn Kite - Chairman and CEOTom McGowan - President and COOConference Call ParticipantsAlexander Goldfarb - AnalystAndrew Reale. - Vice President and AnalystCooper Clark - AnalystCraig Mailman - Managing Director and REIT AnalystFloris van Dijkum - Managing Director and Senior Research AnalystHongliang ...

Financial Data and Key Metrics Changes - Kite Realty Group reported NAREIT FFO per share of $0.52 and Core FFO per share of $0.51 for Q4 2025, with full-year figures of $2.10 and $2.06 respectively, reflecting a 3.5% year-over-year growth in Core FFO per share [13][14] - Same property NOI growth for the full year 2025 was 2.9%, exceeding original guidance by 115 basis points [14] - The company maintained a net debt to EBITDA ratio of 4.9 times, below its long-term target range of 5-5.5 times [19] Business Line Data and Key Metrics Changes - The lease rate increased by 120 basis points sequentially, driven by strong demand, particularly from anchor tenants [5][6] - The company signed leases with 9 anchor tenants in Q4 2025, totaling approximately 645,000 sq ft, with a blended comparable cash spread of 24% [6] - Small shop lease rates increased by 50 basis points sequentially and 110 basis points year-over-year, indicating a steady upward trajectory [6] Market Data and Key Metrics Changes - The company sold approximately $622 million of non-core assets, reducing the percentage of ABR from power centers by 400 basis points compared to the previous year [4][10] - The signed-not-open pipeline grew by $4 million sequentially to $37 million of NOI, with 70% expected to come online in 2026 [14] Company Strategy and Development Direction - The company is focused on higher long-term organic growth by shedding lower growth assets and negotiating better annual rent bumps, aiming for 200 basis points of embedded escalators in the portfolio [7][8] - Development activities include a significant expansion at One Loudoun, adding various retail and residential spaces to enhance the mixed-use asset [8][9] - The company aims to capitalize on strong market demand while optimizing its portfolio through strategic acquisitions and dispositions [11][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in converting momentum into results for 2026, emphasizing the importance of optimizing and de-risking the portfolio [13] - The guidance for 2026 includes NAREIT and Core FFO per share ranges of $2.06 to $2.12, with expectations of lower growth in the first half of the year followed by acceleration [15][17] - Management highlighted the importance of maintaining a strong balance sheet to pursue opportunities that enhance shareholder value while ensuring financial discipline [19] Other Important Information - The company allocated $300 million for stock buybacks at a significant discount to its consensus NAV, viewing it as a yield arbitrage opportunity [5][11] - The company is actively pursuing 1031 acquisitions, focusing on neighborhood grocery and lifestyle mixed-use assets to enhance embedded rent growth [24][27] Q&A Session Summary Question: Expectations on pricing for non-core dispositions - Management indicated that pricing would be similar to previous dispositions, with a healthy market demand for such products [22] Question: Type of product for 1031 acquisitions - The focus remains on moving away from larger format centers towards neighborhood grocery and lifestyle mixed-use assets, with an emphasis on embedded rent growth [24][27] Question: Key factors driving guidance range - Factors include lower bad debt, rent commencement dates, and timing of transactional activities, which could impact the high or low end of the guidance range [32][33] Question: Update on City Center disposition - City Center is included in the $115 million of non-core assets expected to be sold, with an estimated value in the mid-fifties million range [104]

Southlake Town Square – Dallas / Fort Worth, TX MSA INVESTOR UPDATE Q4 2025 © 2026 Kite Realty Group | kiterealty.com Prestonwood Place – Dallas / Fort Worth, TX MSA Kings Lake Square – Naples, FL MSA KRG Overview 169 Operating Properties 27M Total Owned GLA (SF) 95.1% Retail Portfolio Percent Leased $22.63 Retail Annualized Base Rent (ABR) per SF 4.9x Net Debt to Adjusted EBITDA 79% Retail Wtd. ABR from Assets with a Grocery Component2 67% Wtd. ABR in Sun Belt Markets3 2,187 Multifamily Units4 ~4,000 Opera ...

Core Viewpoint - Kite Realty Group reported quarterly funds from operations (FFO) of $0.51 per share, matching the Zacks Consensus Estimate, but down from $0.53 per share a year ago, indicating a slight decline in performance [1] Financial Performance - The company posted revenues of $204.94 million for the quarter ended December 2025, missing the Zacks Consensus Estimate by 1.6%, compared to $214.72 million in the same quarter last year [2] - Over the last four quarters, Kite Realty Group has surpassed consensus FFO estimates two times and topped consensus revenue estimates two times [2] Stock Performance - Kite Realty Group shares have increased approximately 4.4% since the beginning of the year, while the S&P 500 has declined by 0.1% [3] - The stock's immediate price movement will depend on management's commentary during the earnings call and future FFO expectations [3] Future Outlook - The current consensus FFO estimate for the coming quarter is $0.51 on revenues of $204.55 million, and for the current fiscal year, it is $2.09 on revenues of $830.43 million [7] - The estimate revisions trend for Kite Realty Group was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The REIT and Equity Trust - Retail industry is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom half [8]

Financial Performance - For the fourth quarter of 2025, net income attributable to common shareholders was $180.8 million, or $0.84 per diluted share, compared to $21.8 million, or $0.10 per diluted share in Q4 2024, representing a significant increase [6]. - Full year 2025 generated Core FFO of $460.4 million, or $2.06 per diluted share, a 3.5% year-over-year increase, and NAREIT FFO of $468.6 million, or $2.10 per diluted share, a 1.4% year-over-year increase [8]. - Total revenue for Q4 2025 was $204,937,000, a decrease of 3.0% from $212,211,000 in Q4 2024 [24]. - Net income attributable to common shareholders for Q4 2025 was $180,822,000, significantly up from $21,824,000 in Q4 2024 [24]. - NAREIT Funds From Operations (FFO) for Q4 2025 was $113,072,000, down from $119,470,000 in Q4 2024 [24]. - Total expenses for Q4 2025 were $169.282 million, an increase of 2.7% from $165.404 million in Q4 2024 [30]. - The total assets decreased to $6,664,497,000 in Q4 2025 from $7,091,767,000 in Q4 2024 [28]. - The total liabilities decreased to $3,472,723,000 in Q4 2025 from $3,679,690,000 in Q4 2024 [28]. Leasing Activity - The company executed 683 new and renewal leases representing approximately 4.6 million square feet at comparable cash leasing spreads of 13.8% [8]. - The retail portfolio leased percentage was 95.1% at December 31, 2025, a 120-basis point increase sequentially [12]. - Same Property Net Operating Income (NOI) increased by 2.9% in 2025 [8]. - The percentage of total properties leased increased to 94.4% in Q4 2025 from 93.2% in Q3 2025 [24]. - New lease cash rent spread for Q4 2025 was 21.8%, down from 26.1% in Q3 2025 [24]. - New leases in Q4 2025 totaled 61, covering 373,526 square feet, with a new rent average of $29.79 per square foot, reflecting a 21.8% increase from prior rents [81]. - Non-option renewals in Q4 2025 had an average cash rent of $23.86 per square foot, showing a 14.5% increase from prior rents [81]. - The company executed a total of 683 leases covering 4,566,646 square feet, with an average cash rent of $22.13 per square foot, indicating a 13.8% increase [81]. Property Sales and Acquisitions - In 2025, the company sold 13 properties and two land parcels for $621.7 million in gross proceeds, reducing power center exposure by approximately 400 basis points of total weighted annualized base rent (ABR) [7]. - Kite Realty Group acquired Legacy West for a gross purchase price of $785.0 million, with KRG's share being $408.2 million [64]. - The total acquisitions for the period amounted to $476.6 million, with a combined GLA of 512,987 square feet [64]. - The company disposed of properties totaling $733.8 million, with a total GLA of 3,518,397 square feet [65]. Financial Guidance and Projections - The company expects 2026 net income attributable to common shareholders to be between $0.36 and $0.42 per diluted share, with NAREIT FFO and Core FFO guidance of $2.06 to $2.12 per diluted share [12]. - The company anticipates remaining NOI from development and redevelopment projects to be $2,750,000 [89]. - The projected completion date for the One Loudoun Expansion is between Q4 2026 and Q2 2027, with an estimated cost of $91.0 million [68]. Debt and Liquidity - Total outstanding debt as of December 31, 2025, was $3,217,866,000, with a weighted average interest rate of 4.35% [51]. - Cash and cash equivalents amounted to $36,761,000, providing liquidity for operational needs [47]. - The debt service coverage ratio was 4.2x, significantly above the required minimum of 1.5x [47]. - The ratio of company share of net debt to adjusted EBITDA was 4.9x, indicating a manageable level of debt relative to earnings [48]. - The company has $1,010,800,000 available under its unsecured credit facility, enhancing financial flexibility [47]. Operational Metrics - The operating retail portfolio ABR per square foot was $22.63 at December 31, 2025, a 7.0% increase year-over-year [12]. - The company reported a gain on sales of operating properties of $183.107 million in Q4 2025, compared to no gain in Q4 2024 [30]. - The total Annualized Portfolio Cash NOI is reported at $598,866,000 [89]. - The company’s NAREIT Funds from Operations (FFO) is a key performance measure, excluding depreciation and amortization related to real estate [93]. - Core Funds from Operations (Core FFO) adjusts FFO for non-cash transactions, providing a clearer view of cash flow-generating operations [96]. Tenant and Portfolio Information - The top 25 tenants contributed a total of $155,561 thousand in Annual Base Rent (ABR), representing 25.5% of the company's total ABR as of December 31, 2025 [76]. - The total number of stores for the top 25 tenants was 405, indicating a diverse tenant mix [76]. - The company reported a total of 3,792 expiring leases with a total Gross Leasable Area (GLA) of 8,392,881 square feet and an Annual Base Rent (ABR) of $568,421,000 as of December 31, 2025 [85]. - For 2026, the company has 380 expiring leases with an expiring ABR of $40,930,000, representing 7.0% of total ABR [85].

INDIANAPOLIS, Feb. 17, 2026 (GLOBE NEWSWIRE) -- Kite Realty Group (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 fourth quarter and year ended December 31, 2025. For the quarters ended December 31, 2025 and 2024, net income attributable to common shareholders was $180.8 million, or $0.84 per diluted share, compared to $21.8 million, or $0.10 per diluted share, respectively. For t ...

分组1 - Kite Realty Group (NYSE: KRG) announced its 2025 dividend distributions, with a total distribution of $1.08 per share, consisting of $0.8984 in ordinary dividends and $0.1816 in capital gain distributions [1] - The ordinary dividend represents 83.19% of the total distribution, while the capital gain distribution accounts for 16.81% [1] - The dividend payments are scheduled for January 16, April 16, July 16, and October 16, 2025, with each payment set at $0.27 per share [1] 分组2 - Kite Realty Group is a real estate investment trust (REIT) specializing in open-air shopping centers and mixed-use assets, primarily grocery-anchored [2] - The company operates in high-growth Sun Belt and strategic gateway markets, owning interests in 180 U.S. properties with approximately 29.7 million square feet of gross leasable space as of September 30, 2025 [2] - KRG has over 60 years of experience in real estate development, construction, and operation, focusing on maximizing value and returns to shareholders [2]