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Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue:        
Rental income $ 70,216 $ 64,293 $ 206,097 $ 191,359
Total revenue 71,465 65,067 210,374 198,284
Expenses:        
Property operating 10,482 10,330 30,978 30,450
Real estate taxes 8,624 9,362 26,574 26,551
General, administrative, and other 8,241 6,482 23,676 19,986
Merger and acquisition costs 9,198 0 9,958 0
Depreciation and amortization 30,193 33,953 90,625 96,830
Total expenses 66,738 60,127 181,811 173,817
Gain on sale of properties, net 1,260 3,226 27,517 4,893
Operating income 5,987 8,166 56,080 29,360
Interest expense (12,878) (12,550) (37,386) (38,115)
Income tax benefit of taxable REIT subsidiary 91 190 308 496
Equity in loss of unconsolidated subsidiaries (196) (417) (758) (1,256)
Other income, net 168 (16) 189 234
Net (loss) income (6,828) (4,627) 18,433 (9,281)
Net (income) loss attributable to noncontrolling interests (132) 40 (1,058) (148)
Net (loss) income attributable to Kite Realty Group Trust common shareholders $ (6,960) $ (4,587) $ 17,375 $ (9,429)
Net (loss) income per common unit - basic & diluted        
Net (loss) income per common share - basic (in USD per share) $ (0.08) $ (0.05) $ 0.21 $ (0.11)
Net (loss) income per common share - diluted (in USD per share) $ (0.08) $ (0.05) $ 0.20 $ (0.11)
Weighted average common shares outstanding - basic (in shares) 84,556,689 84,194,268 84,468,519 84,125,219
Weighted average common shares outstanding - diluted (in shares) 84,556,689 84,194,268 85,383,849 84,125,219
Dividends per common share (in USD per share) $ 0.1800 $ 0.0520 $ 0.5000 $ 0.3695
Consolidated net (loss) income $ (6,828) $ (4,627) $ 18,433 $ (9,281)
Change in fair value of derivatives 1,919 1,081 8,653 (17,112)
Total comprehensive (loss) income (4,909) (3,546) 27,086 (26,393)
Comprehensive (income) loss attributable to noncontrolling interests (173) 12 (1,302) 270
Comprehensive (loss) income attributable to Kite Realty Group Trust (5,082) (3,534) 25,784 (26,123)
KRG, LP        
Revenue:        
Rental income 70,216 64,293 206,097 191,359
Total revenue 71,465 65,067 210,374 198,284
Expenses:        
Property operating 10,482 10,330 30,978 30,450
Real estate taxes 8,624 9,362 26,574 26,551
General, administrative, and other 8,241 6,482 23,676 19,986
Merger and acquisition costs 9,198 0 9,958 0
Depreciation and amortization 30,193 33,953 90,625 96,830
Total expenses 66,738 60,127 181,811 173,817
Gain on sale of properties, net 1,260 3,226 27,517 4,893
Operating income 5,987 8,166 56,080 29,360
Interest expense (12,878) (12,550) (37,386) (38,115)
Income tax benefit of taxable REIT subsidiary 91 190 308 496
Equity in loss of unconsolidated subsidiaries (196) (417) (758) (1,256)
Other income, net 168 (16) 189 234
Net (loss) income (6,828) (4,627) 18,433 (9,281)
Net (income) loss attributable to noncontrolling interests (132) (132) (396) (396)
Net (loss) income attributable to Kite Realty Group Trust common shareholders (6,960) (4,759) 18,037 (9,677)
Allocation of net (loss) income:        
Limited Partners 0 (172) 662 (248)
Parent Company (6,960) (4,587) 17,375 (9,429)
Net (loss) income attributable to Kite Realty Group Trust common shareholders $ (6,960) $ (4,759) $ 18,037 $ (9,677)
Net (loss) income per common unit - basic & diluted        
Net (loss) income per common share - basic (in USD per share) $ (0.08) $ (0.05) $ 0.21 $ (0.11)
Net (loss) income per common share - diluted (in USD per share) $ (0.08) $ (0.05) $ 0.21 $ (0.11)
Weighted average common shares outstanding - basic (in shares) 87,003,784 86,429,259 86,924,446 86,341,057
Weighted average common shares outstanding - diluted (in shares) 87,003,748 86,429,259 87,780,899 86,341,057
Dividends per common share (in USD per share) $ 0.1800 $ 0.0520 $ 0.5000 $ 0.3695
Consolidated net (loss) income $ (6,828) $ (4,627) $ 18,433 $ (9,281)
Change in fair value of derivatives 1,919 1,081 8,653 (17,112)
Total comprehensive (loss) income (4,909) (3,546) 27,086 (26,393)
Comprehensive (income) loss attributable to noncontrolling interests (132) (132) (396) (396)
Comprehensive (loss) income attributable to Kite Realty Group Trust (5,041) (3,678) 26,690 (26,789)
Other property related revenue        
Revenue:        
Revenues 1,054 670 3,133 6,626
Other property related revenue | KRG, LP        
Revenue:        
Revenues 1,054 670 3,133 6,626
Fee income        
Revenue:        
Revenues 195 104 1,144 299
Fee income | KRG, LP        
Revenue:        
Revenues $ 195 $ 104 $ 1,144 $ 299