Kite Realty Group Trust Reports Lower Q4 Loss - Quick Facts

(RTTNews) - Kite Realty Group Trust (KRG) reported a fourth-quarter net loss attributable to shareholders of $1.7 million, compared to a net loss of $6.5 million, prior year. The company noted that its net loss attributable to shareholders for the prior year quarter included an $8.0 million net non-cash remeasurement loss from the acquisition of partner's interest in and related consolidation of Parkside Town Commons. Net loss per share was $0.01, compared to a loss of $0.09 per share, a year ago. Funds from operations, or FFO, was $12.1 million, or $0.10 per share, for the fourth quarter of 2013. FFO per share of the Kite Portfolio, as adjusted, was $0.11 for the quarter.

On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.11 for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased to $35.98 million, from $25.52 million, a year ago. Analysts expected revenue of $32.97 million for the quarter.

The company currently expects FFO for the year ending December 31, 2014 to be within a range of $0.48 to $0.52 per share and net income to be within a range of $0.00 to $0.04 per share. Analysts expect the company to report fiscal 2014 profit per share of $0.50.