Statistical properties of the radiation of a super-radiating laser are studied on the basis of the kinetic equation for the density matrix of the generating field. An original derivation of this equation is proposed. Statistical properties of the laser medium are investigated in the stationary generating regime. We analyze the role played by the decay rate of intracavity photon fluctuations and by the statistical properties of the active medium in the suppression of the photocurrent shot noise. We consider the external pump to be weak, which is physically the most interesting case. It is shown that if the active medium is weakly excited, then only a 50% depression of the shot noise is possible. In the case of a strongly excited medium, depression can reach 100%. The spectrum of optical generation is obtained for conditions far from the instability zone.