Anthony Powell: Got it. That 300 basis point seems conservative. You were at 3.4% in the fourth quarter and you have a big SNO pipeline and things leasing spreads are strong. So I’m guessing asking why wouldn’t that accelerate from the fourth quarter growth that you achieved?
Heath Fear: Well, Anthony, as John said before, it’s the beginning of the year. We are obviously very focused on outperforming these numbers, but we thought that was a number that was €“ we were comfortable starting at. It’s like the bad debt assumption. Again, it’s the beginning of the year. So we will see how that pans out.
John Kite: And remember, there’s another 25 basis points of bad debt on top of what we experienced outside of Bed Bath and Party City that’s hitting that a little bit, too. So I think, again, as we sit here today, we feel like we’re positioned well, Anthony, and we absolutely want to outperform these numbers. And we absolutely want to stay on the same trajectory we had last year, which is to outperform quarter-by-quarter.
Anthony Powell: Okay, thanks. And one more on share buybacks. Could you maybe update us on what your philosophy or approaches to share buybacks? And I know you mentioned that you want to spend more on a €“ spend capital on leasing and we’re still in an uncertain economy here, but there are some great opportunities to buy back stock last year, you still had the $400 million in place. So I’m just curious what your view is on stock buybacks and under what conditions would you actually use the authorization?
John Kite: Yes. I think that buyback is about $300 million, actually not $400 million, but €“ yes, yes that’s okay, no €“ not that we’re counting the extra $100 million. I think it’s the same philosophy right now that, it’s always discussed. We have it there for a reason. We have not acted on it at this point. We are definitely laser-focused on closing the gap in our leased percentage and our leased occupancy back to pre-COVID levels. That takes capital. The returns on this capital are substantial. We also are holding buffer capital for the potential fallout of some of these tenants that we mentioned. So, with all that being said, it’s definitely on the list. I think we are prioritizing capital in those other places right now, and we will see where we go.
And I have said this before, so it sounds like a continued dialogue, but the dialogue is accurate in the sense that we are always going to be nimble around that if the opportunity presents itself in a very, very material way, that would be great. But right now, we are just going to focus on leasing up that stuff, Anthony, spending the money, getting those significant double-digit returns there. And then finishing out the development pipeline. Even though it’s small, it’s still $44 million. So, those are our primary uses of capital right now.
Anthony Powell: Alright. Thank you.
John Kite: Thank you.
Operator: Thank you. And our next question comes from the line of Lizzie Daykin from Bank of America. Your question please.
Unidentified Analyst: Hi. Thanks for taking my question. I was curious if you could just underline the assumptions behind the $0.02 of impact included from G&A and whatever else might be included within guidance? Thanks.
