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Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenue:        
Rental income $ 67,990 $ 61,538 $ 135,880 $ 127,066
Total revenue 69,532 63,305 138,906 133,217
Expenses:        
Property operating 10,227 9,319 20,496 20,120
Real estate taxes 8,550 8,254 17,950 17,188
General, administrative, and other 8,159 6,578 15,435 13,504
Merger and acquisition costs 760 0 760 0
Depreciation and amortization 29,798 31,409 60,431 62,877
Total expenses 57,494 55,560 115,072 113,689
Gain on sale of properties, net 50 623 26,258 1,666
Operating income 12,088 8,368 50,092 21,194
Interest expense (12,266) (13,271) (24,508) (25,564)
Income tax benefit of taxable REIT subsidiary 100 202 218 306
Equity in loss of unconsolidated subsidiaries (244) (436) (562) (839)
Other income, net 227 351 19 249
Net (loss) income (95) (4,786) 25,259 (4,654)
Net (income) loss attributable to noncontrolling interests (147) 17 (926) (188)
Net (loss) income attributable to Kite Realty Group Trust common shareholders $ (242) $ (4,769) $ 24,333 $ (4,842)
Net income (loss) per common share - basic and diluted        
Net income (loss) per common share - basic (in USD per share) $ 0.00 $ (0.06) $ 0.29 $ (0.06)
Net income (loss) per common share - diluted (in USD per share) $ 0.00 $ (0.06) $ 0.29 $ (0.06)
Weighted average common shares outstanding - basic (in shares) 84,509,871 84,157,541 84,423,703 84,090,316
Weighted average common shares outstanding - diluted (in shares) 84,509,871 84,157,541 85,280,156 84,090,316
Dividends per common share (in USD per share) $ 0.1700 $ 0.0000 $ 0.3200 $ 0.3175
Consolidated net (loss) income $ (95) $ (4,786) $ 25,259 $ (4,654)
Change in fair value of derivatives 1 (1,622) 6,732 (18,193)
Total comprehensive (loss) income (94) (6,408) 31,991 (22,847)
Comprehensive (income) loss attributable to noncontrolling interests (154) 59 (1,129) (266)
Comprehensive (loss) income attributable to Kite Realty Group Trust (248) (6,349) 30,862 (23,113)
KRG, LP        
Revenue:        
Rental income 67,990 61,538 135,880 127,066
Total revenue 69,532 63,305 138,906 133,217
Expenses:        
Property operating 10,227 9,319 20,496 20,120
Real estate taxes 8,550 8,254 17,950 17,188
General, administrative, and other 8,159 6,578 15,435 13,504
Merger and acquisition costs 760 0 760 0
Depreciation and amortization 29,798 31,409 60,431 62,877
Total expenses 57,494 55,560 115,072 113,689
Gain on sale of properties, net 50 623 26,258 1,666
Operating income 12,088 8,368 50,092 21,194
Interest expense (12,266) (13,271) (24,508) (25,564)
Income tax benefit of taxable REIT subsidiary 100 202 218 306
Equity in loss of unconsolidated subsidiaries (244) (436) (562) (839)
Other income, net 227 351 19 249
Net (loss) income (95) (4,786) 25,259 (4,654)
Net (income) loss attributable to noncontrolling interests (132) (132) (264) (266)
Net (loss) income attributable to Kite Realty Group Trust common shareholders (227) (4,918) 24,995 (4,920)
Allocation of net income (loss):        
Limited Partners 15 (150) 662 (78)
Parent Company (242) (4,769) 24,333 (4,842)
Net (loss) income attributable to Kite Realty Group Trust common shareholders $ (227) $ (4,919) $ 24,995 $ (4,920)
Net income (loss) per common share - basic and diluted        
Net income (loss) per common share - basic (in USD per share) $ 0.00 $ (0.06) $ 0.29 $ (0.06)
Weighted average common shares outstanding - basic (in shares) 86,986,054 86,392,532 86,924,446 86,296,471
Weighted average common shares outstanding - diluted (in shares) 86,986,054 86,392,532 87,780,899 86,296,471
Dividends per common share (in USD per share) $ 0.1700 $ 0.0000 $ 0.3200 $ 0.3175
Consolidated net (loss) income $ (95) $ (4,786) $ 25,259 $ (4,654)
Change in fair value of derivatives 1 (1,622) 6,732 (18,193)
Total comprehensive (loss) income (94) (6,408) 31,991 (22,847)
Comprehensive (income) loss attributable to noncontrolling interests (132) (132) (264) (266)
Comprehensive (loss) income attributable to Kite Realty Group Trust (226) (6,540) 31,727 (23,113)
Other property related revenue        
Revenue:        
Total revenue 1,027 1,676 2,078 5,956
Other property related revenue | KRG, LP        
Revenue:        
Total revenue 1,027 1,676 2,078 5,956
Fee income        
Revenue:        
Total revenue 515 91 948 195
Fee income | KRG, LP        
Revenue:        
Total revenue $ 515 $ 91 $ 948 $ 195