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Kite Realty Group: 3Q Earnings Snapshot

·1 min read

INDIANAPOLIS (AP) _ Kite Realty Group Trust (KRG) on Wednesday reported a key measure of profitability in its third quarter. The results fell short of Wall Street expectations.

The real estate investment trust, based in Indianapolis, said it had funds from operations of $26.3 million, or 30 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 32 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $4.6 million, or 5 cents per share.

The real estate investment trust posted revenue of $65.1 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $64.9 million.

The company's shares have fallen 47% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.43, a decrease of 40% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KRG at https://www.zacks.com/ap/KRG