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Kite Realty Group Trust

KRG NYSE Retail REITs Financials FY2016–FY2025

Kite Realty Group Trust's revenue rose 0.8% to $844 million in fiscal 2025. Its net margin was 35.4%, up from 0.5% a year earlier. Free cash flow was $278 million, down 0.3%. It paid out $238 million in dividends and buybacks, 86% of free cash flow. The diluted share count fell 0.6%.

Last close · Oct 23, 2026

$24.68

0.4%
Value it Compare
Revenue Total sales reported in the income statement.
$844M
0.8% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$299M
7,185.4%
Free cash flow Cash from operations minus capital spending.
$278M
0.3%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
7.1%
5.4 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$5.0B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
15.3x
On $1.61 EPS (TTM)

About these figures. Kite Realty's 2025 income statement has no operating income line, so operating margin is left blank for that year.

What Kite Realty Group Trust does

No business description yet.

Legal name
KITE REALTY GROUP TRUST
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001286043-26-000009
0001286043

Revenue and margins

Kite Realty Group Trust had $844M of revenue in fiscal 2025, up 0.8% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 72.7% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $278M in fiscal 2025, 32.9% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Kite Realty Group Trust returned $238M to shareholders in fiscal 2025, 86% of free cash flow. The diluted share count fell 0.6%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Kite Realty Group Trust yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$3.0B and divides by 218.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 15.3x · peers 20.1x · sector 28.2x.

Balance sheet

Cash, debt and the ratios that show how comfortably Kite Realty Group Trust can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $218M$116M$36.4M$478M$36.8M
Debt incl. finance leases $3.2B$3.0B$2.8B$3.2B$3.0B
Net debt / EBITDA 16.2x5.1x4.8x5.4x3.7x
Debt / equity 0.8x0.8x0.8x1.0x1.0x
Interest coverage −0.4x0.9x1.5x0.9x3.3x
Total assets $7.6B$7.3B$6.9B$7.1B$6.7B
Total liabilities $3.7B$3.5B$3.3B$3.7B$3.5B
Shareholders' equity $3.9B$3.8B$3.6B$3.3B$3.1B
Net debt (− = net cash) $2.9B$2.9B$2.8B$2.7B$3.0B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.4M

2 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
May 26, 2026 Steven P GrimesDirector Sold 5,922 $27.25 $0.2M Form 4
Feb 26, 2026 Charles H WurtzebachDirector Sold 7,722 $26.08 $0.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✓
Current ratio rose — — —
Share count didn't rise ✕ ✓ ✓
Gross margin rose — — —
Revenue rose relative to assets ✓ ✓ ✕
F-score — / 9— / 9— / 9
Accruals ratio −4.9%−5.9%−1.9%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Kite Realty Group Trust KRG $5.0B 0.8% — 32.9% 7.1% 15.3x —
NNN Reit NNN $7.8B 6.6% 63.6% — — 20.2x — Compare →
Agree Realty ADC $8.3B 16.4% 47.4% 70.2% — 34.4x — Compare →
Federal Realty Investment Trust FRT $9.4B 6.4% 47.1% — 6.0% 18.9x — Compare →
Brixmor Property Group BRX $8.7B 6.7% — — — 20.1x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $354M $359M $354M $315M $267M $373M $802M $821M $838M $844M
Operating income $69.7M $79.9M $21.0M $71.8M $35.0M −$21.5M $91.7M $152M $111M —
Interest expense $65.6M $65.7M $66.8M $59.3M $50.4M $60.4M $104M $105M $126M $133M
Pretax income $2.0M $11.8M −$46.8M −$0.8M −$16.9M −$81.1M −$12.6M $48.0M $4.2M $299M
Income tax $0.8M −$0.1M −$0.2M −$0.3M −$0.7M −$0.3M $0.0M $0.5M $0.1M $0.5M
Net income $1.2M $11.9M −$46.6M −$0.5M −$16.2M −$80.8M −$12.6M $47.5M $4.1M $299M
Diluted EPS $0.01 $0.14 −$0.56 −$0.01 −$0.19 −$0.73 −$0.06 $0.22 $0.02 $1.37
Diluted shares 0.08B 0.08B 0.08B 0.08B 0.08B 0.11B 0.22B 0.22B 0.22B 0.22B
Cash flow
Cash from operations $155M $155M $154M $138M $95.5M $100M $379M $395M $419M $430M
Capital expenditure $94.6M $72.4M $59.3M $53.3M $38.3M $57.3M $159M $145M $141M $152M
Free cash flow $60.8M $82.2M $95.1M $84.7M $57.3M $43.0M $221M $250M $279M $278M
Depreciation and amortization $0.0M $172M $152M $132M $129M $203M $473M $430M $398M $380M
Stock-based compensation $5.2M $6.0M $4.9M $5.4M $6.0M $6.7M $10.3M $10.1M $10.7M $10.8M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $1.1M $0.8M $0.3M $0.5M $1.3M $15.0M $1.5M $0.8M $0.9M $1.3M
Dividends paid $94.7M $101M $106M $133M $38.1M $57.8M $180M $211M $222M $237M
Dividends and buybacks $95.8M $102M $107M $134M $39.5M $72.8M $181M $211M $223M $238M
Balance sheet
Cash and short-term investments $19.9M $24.1M $35.4M $31.3M $43.6M $218M $116M $36.4M $478M $36.8M
Total debt $1.7B $1.7B $1.5B $1.1B $1.2B $3.2B $3.0B $2.8B $3.2B $3.0B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Total assets $3.7B $3.5B $3.2B $2.6B $2.6B $7.6B $7.3B $6.9B $7.1B $6.7B
Total liabilities $1.9B $1.9B $1.7B $1.3B $1.3B $3.7B $3.5B $3.3B $3.7B $3.5B
Shareholders' equity $1.6B $1.6B $1.4B $1.3B $1.2B $3.9B $3.8B $3.6B $3.3B $3.1B
Margins
Operating margin 19.7% 22.3% 5.9% 22.8% 13.1% −5.8% 11.4% 18.5% 13.3% —
EBITDA margin 19.7% 70.2% 48.9% 64.7% 61.4% 48.7% 70.4% 70.9% 60.8% 96.2%
Net margin 0.3% 3.3% −13.2% −0.2% −6.1% −21.7% −1.6% 5.8% 0.5% 35.4%
FCF margin 17.2% 22.9% 26.8% 26.9% 21.5% 11.5% 27.5% 30.4% 33.3% 32.9%
Returns
Return on capital 1.2% 2.4% 0.5% 2.1% 1.2% −0.4% 1.1% 2.3% 1.7% 7.1%
Return on equity 0.1% 0.7% −3.1% −0.0% −1.3% −3.1% −0.3% 1.3% 0.1% 9.4%
Return on assets 0.0% 0.3% −1.4% −0.0% −0.6% −1.6% −0.2% 0.7% 0.1% 4.3%
Growth
Revenue growth — 1.3% −1.3% −11.0% −15.4% 40.0% 114.8% 2.4% 2.0% 0.8%
Net income growth −95.6% 903.7% −492.2% — — — — — −91.4% 7,236.4%
EPS growth −94.4% 1,300.0% −500.0% — — — — — −90.9% 6,750.0%
FCF growth −20.9% 35.3% 15.7% −10.9% −32.4% −24.8% 412.9% 13.3% 11.4% −0.3%
Share count change −0.1% 0.3% 0.0% 0.3% 0.3% 31.5% 98.0% 0.3% 0.0% −0.6%
Financial health
Net debt / EBITDA 24.6x 6.7x 8.7x 5.5x 6.9x 16.2x 5.1x 4.8x 5.4x 3.7x
Debt / equity 1.1x 1.1x 1.1x 0.9x 1.0x 0.8x 0.8x 0.8x 1.0x 1.0x
Interest coverage 1.1x 1.2x 0.3x 1.2x 0.7x −0.4x 0.9x 1.5x 0.9x 3.3x
Capital allocation
Capex / revenue 26.7% 20.2% 16.7% 16.9% 14.4% 15.4% 19.8% 17.6% 16.8% 18.0%
Stock comp / revenue 1.5% 1.7% 1.4% 1.7% 2.3% 1.8% 1.3% 1.2% 1.3% 1.3%
Payouts / FCF 157.7% 124.1% 112.2% 158.0% 68.9% 169.2% 82.1% 84.5% 80.0% 85.7%
Quality scores
Accruals ratio −4.2% −4.0% −6.0% −4.8% −4.3% −3.5% −5.2% −4.9% −5.9% −1.9%

Source: SEC EDGAR XBRL filings (CIK 0001286043). Data updated October 17, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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