Kite Realty Group (KRG) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Kite Realty Group (KRG) reported $207.25 million in revenue for Q3 2024, showing a year-over-year increase of 0% and an EPS of $0.51 compared to $0.01 a year ago [1] - The reported revenue fell short of the Zacks Consensus Estimate of $210.39 million, resulting in a surprise of -1.49% [1] - The company did not deliver an EPS surprise, as the consensus EPS estimate was also $0.51 [1] Revenue Breakdown - Rental income was reported at $204.93 million, slightly above the year-ago quarter by +0.5%, but below the average estimate of $207.57 million from three analysts [3] - Minimum rent revenue was $151.40 million, compared to the average estimate of $162.84 million based on two analysts [3] - Tenant recoveries amounted to $40.69 million, which was lower than the average estimate of $43.42 million from two analysts [3] - Fee income was reported at $0.46 million, significantly down by -57% year-over-year, and below the average estimate of $1.11 million from two analysts [3] Earnings Performance - Net Earnings Per Share (Diluted) was $0.08, slightly above the average estimate of $0.07 based on three analysts [3] Stock Performance - Kite Realty Group's shares have returned -2% over the past month, while the Zacks S&P 500 composite has increased by +1.8% [4] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential outperformance against the broader market in the near term [4]