Kite Realty Group Trust · NYSE:KRG

Kite Realty Group Trust — Investor Presentation (August 2016)

16 slides from Kite Realty Group Trust's investor presentation, Aug 24, 2016

  1. Slide 1: Investor Update August 2016

    INVESTOR UPDATE August 2016 Chapel Hill (Dallas, TX) Livingston Center (Livingston, NJ)

  2. Slide 2: Company Snapshot

    © 2016 Kite Realty Group kiterealty.com Investor Update | 2 COMPANY SNAPSHOT KITE REALTY GROUP TRUST Note: All data as of 06/30/16 unless otherwise noted. 1. Source: SNL; Dividend yield calculated as most recent dividend, annualized and expressed as a percent of the security price. 2. Annualized Bas

  3. Slide 3: Kite's Strategy Focuses on the "Core" of the Business

    © 2016 Kite Realty Group kiterealty.com Investor Update | 3 KITE’S STRATEGY FOCUSES ON THE “CORE” OF THE BUSINESS C ULTURE & PASSION • MANAGEMENT CONSISTENCY • INDUSTRY LEADING EFFICIENCY O PERATIONAL EXCELLENCE • HIGH-QUALITY PORTFOLIO • TOP-TIER FINANCIAL RESULTS R ESILIENT BALANCE SHEET • WELL ST

  4. Slide 4: Top-Tier Operating Efficiency Metrics

    © 2016 Kite Realty Group kiterealty.com Investor Update | 4 TOP-TIER OPERATING EFFICIENCY METRICS 4.5% 4.6% 5.5% 6.1% 6.8% 7.5% 7.8% 8.0% 8.7% 9.3% 10.3% FRT WRI KRG ROIC DDR BRX RPT RPAI KIM EQY REG G&A / Revenues (%) 75.8% 75.2% 74.0% 73.8% 72.9% 72.8% 71.1% 70.6% 70.2% 69.4% 68.3% ROIC BRX KRG EQ

  5. Slide 5: Kite Consistently Maintains Top-Tier SSNOI Growth

    © 2016 Kite Realty Group kiterealty.com Investor Update | 5 KITE CONSISTENTLY MAINTAINS TOP-TIER SSNOI GROWTH 4.9% 4.3% 4.0% 3.7% 3.5% 3.3% 3.3% 3.1% 2.9% 2.8% 2.8% 2.6% 1.9% ROIC AKR KRG EQY BRX REG WRI DDR RPT FRT RPAI KIM CDR QUARTERLY AVERAGE SSNOI GROWTH FROM Q2’14-Q2’16 (1) Peer average ~3.3%

  6. Slide 6: Diverse Sources of High-Quality Revenue

    © 2016 Kite Realty Group kiterealty.com Investor Update | 6 Midwest 16% Northeast 7% Mid- Central 20% West 13% Southeast 17% Florida 27% DIVERSE SOURCES OF HIGH-QUALITY REVENUE Top Tenants By ABR # Stores % ABR 1 Publix 18 3.1% 2 TJ Maxx 22 2.5% 3 PetSmart 20 2.3% 4 Bed Bath & Beyond 19 2.2% 5 Ross

  7. Slide 7: Necessity Driven and Internet Resistant Retailer Base

    © 2016 Kite Realty Group Investor Update | 7 INTERNET RESISTANT 55% SERVICES, ENTERTAINMENT 20% GROCERY, SPECIALTY STORES 19% RESTAURANTS 16% OMNI-CHANNEL 37% DISCOUNT RETAILERS 15% HOME IMPROVEMENT/GOODS 11% SOFT GOODS 7% SPORTING GOODS 4% NON-RESISTANT 8% ELECTRONICS / BOOKS 5% OFFICE SUPPLIES 3%

  8. Slide 8: Portfolio of High-Quality, Diverse Assets

    © 2016 Kite Realty Group Investor Update | 8 Dallas, TX Owned GLA 126,755 ABR per SF $24.09 % Leased 92.5% PORTFOLIO OF HIGH-QUALITY, DIVERSE ASSETS DELRAY MARKETPLACE CHAPEL HILL RIVERS EDGE CENTENNIAL CENTER Delray, FL Owned GLA 260,094 ABR per SF $25.16 % Leased 96.7% Indianapolis, IN Owned GLA 1

  9. Slide 9: In-Process Redevelopment & 3-R Platform

    © 2016 Kite Realty Group kiterealty.com Investor Update | 9  In-process projects of ~$43.5mm  Major Redevelopment:  City Center  Optimizing Existing Vacancies / Right-sizing:  Bolton Plaza Phase II  Northdale Promenade  Hitchcock Plaza  Shops at Moore  Tarpon Bay Plaza IN-PROCESS REDEVELOPM

  10. Slide 10: Resilient Balance Sheet

    © 2016 Kite Realty Group kiterealty.com Investor Update | 10 RESILIENT BALANCE SHEET  Moody’s / S&P Ratings: Baa3 / BBB-  Fixed Charge Coverage: 3.7x  Net Debt / Adjusted EBITDA: 6.9x  Secured Debt / Undepreciated Total Assets: 19.3%  Unencumbered Assets / Total Assets: 59.7% Data is as of Q2’1

  11. Slide 11: Well-Staggered Debt Maturity Profile

    © 2016 Kite Realty Group kiterealty.com Investor Update | 11 17 64 46 171 215 215 12 71 200 200 200 95 155 0 50 100 150 200 250 300 350 400 450 500 2016 2017 2018 2019 2020 2021 2022 2023 2024+ Secured Mortgage Debt Secured Construction Loan Unsecured Line of Credit Unsecured Term Loan Unsecured Pri

  12. Slide 12: Forward-Looking Statements

    © 2016 Kite Realty Group kiterealty.com Investor Update | 12 FORWARD-LOOKING STATEMENTS This presentation, together with other statements and information publicly disseminated by us, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Secti

  13. Slide 13: Adjusted Funds from Operations

    © 2016 Kite Realty Group kiterealty.com Investor Update | 13 Adjusted Funds from Operations Adjusted Funds From Operations (“AFFO”) is a non-GAAP financial measure of operating performance used by many companies in the REIT industry. AFFO should not be considered an alternative to net earnings, as a

  14. Slide 14: Disclaimer

    © 2016 Kite Realty Group kiterealty.com Investor Update | 14 DISCLAIMER For more information on the foregoing non-GAAP financial measures and reconciliations of net income to FFO, FFO, as adjusted, AFFO, NOI, same property NOI, EBITDA and Adjusted EBITDA for the quarter ended June 30, 2016, please s

  15. Slide 15: Appendix – FFO

    © 2016 Kite Realty Group kiterealty.com Investor Update | 15 APPENDIX – FFO ($ in thousands, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Funds From Operations Consolidated net (loss) income $ (1,496 ) $ 7,235 $ 477 $ 15,096 Less: cash dividends on

  16. Slide 16: Appendix – Same Property NOI

    © 2016 Kite Realty Group kiterealty.com Investor Update | 16 APPENDIX – SAME PROPERTY NOI ($ in thousands) Three Months Ended June 30, Six Months Ended June 30, 2016 2015 % Change 2016 2015 % Change Number of properties for the quarter1 102 102 Leased percentage 95.3 % 95.4 % 95.3 % 95.4 % Economic

Kite Realty Group Trust — Investor Presentation (August 2016) on 6ix