Kite Realty To Launch Stock Offer, Lowers Outlook

INDIANAPOLIS (AP) — Shares of Kite Realty Group Trust dropped in after-hours trading Tuesday after the Indianapolis-based real estate investment trust said it expects 2009 funds from operations between 65 cents to 72 cents per share, which is below its prior guidance.

On May 7, the company had forecast funds from operations between 83 cents and 93 cents per share. Analysts surveyed by Thomson Reuters have forecast full-year FFO of 84 cents per share, on average.

Funds from operations, or FFO, adds such items as amortization and depreciation to net income. It is considered a key measure of REIT strength because it gives a more accurate picture of cash performance. ...