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Kite Realty Group Trust (NYSE: KRG) is a full-service, vertically-integrated real estate investment trust (REIT) headquartered in Indianapolis, IN. The company specializes in the ownership, operation, acquisition, development, and redevelopment of high-quality open-air shopping centers and mixed-use assets across the United States.
As of June 30, 2016, Kite Realty Group Trust had interests in a portfolio of 121 operating, development, and redevelopment properties totaling approximately 24 million square feet located in 20 states. Their core business strategy focuses on maximizing the cash flow of their operating properties, successfully completing the construction and lease-up of their development portfolio, and identifying additional growth opportunities through acquisitions and redevelopments.
The company places a significant emphasis on grocery-anchored neighborhood and community centers, particularly in high-growth Sun Belt regions and select strategic gateway markets. This, combined with vibrant mixed-use assets, makes their portfolio appealing to both retailers and consumers.
One of their latest projects includes the management of Cool Springs Market in Franklin, Tennessee, which welcomes a new Nordstrom Rack store scheduled to open in fall 2024. This addition highlights the company's continuous efforts in enhancing their property offerings and expanding their footprint in strategic locations.
Kite Realty Group Trust generates a majority of its revenue from contractual rents and reimbursement payments received from tenants. Their long-term success is driven by nearly 60 years of experience in developing, constructing, and operating real estate, coupled with a robust strategy to leverage existing infrastructure and relationships to generate attractive risk-adjusted returns.
For more information, please visit kiterealty.com.
Kite Realty Group Trust (NYSE: KRG) reported a net loss of $1.1 million or $0.01 per diluted share for Q4 2022, a significant improvement compared to a $98.2 million loss in Q4 2021. For the full year, the net loss was $12.6 million or $0.06 per diluted share, down from $80.8 million in 2021. The company achieved a 29% year-over-year increase in FFO, as adjusted, to $429.6 million, with an annualized base rent (ABR) of $20.02 per square foot. Leverage was lowered to an all-time low of 5.2x. Kite declared a 20% year-over-year dividend increase, setting the Q1 2023 dividend at $0.24 per share. 2023 guidance includes net income of $0.03 to $0.09 per diluted share and FFO of $1.89 to $1.95 per diluted share.
Kite Realty Group Trust (NYSE: KRG) announced the allocations of its 2022 dividend distributions on common stock. The total distribution per share amounts to $0.82, with recorded dates and payable dates spanning from January 2022 to October 2022. The ordinary dividend totals $0.70586, while capital gain distributions and non-taxable distributions are specified as $0.11414 and $0.00000, respectively. The dividend may qualify for the 20% business income deduction under Section 199A of the Internal Revenue Code. KRG operates a significant portfolio of grocery-anchored and mixed-use assets across the U.S., totaling around 28.9 million square feet.
Kite Realty Group Trust (NYSE: KRG) is set to announce its financial results for Q4 2022 after market close on February 13, 2023. A conference call to discuss these results will occur on February 14, 2023, at 1:00 p.m. ET. KRG specializes in grocery-anchored shopping centers and mixed-use properties, holding interests in 183 U.S. assets totaling approximately 28.9 million square feet. The company emphasizes its expertise in optimizing its portfolio to enhance shareholder returns.
Kite Realty Group Trust (NYSE: KRG) has declared a quarterly cash distribution of $0.24 per common share for the quarter ending December 31, 2022. This payment is scheduled for January 13, 2023, to shareholders on record by January 6, 2023. The firm, based in Indianapolis, focuses on grocery-anchored shopping centers and mixed-use properties, owning interests in 183 assets totaling approximately 28.9 million square feet of gross leasable space.
Kite Realty Group Trust (NYSE: KRG) announced strong third-quarter results for 2022, highlighting a record lease of approximately 1.6 million square feet with a 10.8% comparable blended cash leasing spread. The company raised its 2022 FFO guidance to $1.86-$1.90 per diluted share, up from the previous range. Despite a net loss of $7.8 million, FFO increased by 45% year-over-year. The retail portfolio was 94% leased, a 120-basis point year-over-year increase. The company also acquired Palms Plaza for $35.8 million, enhancing its Florida presence.
Kite Realty Group Trust (NYSE: KRG) has released its inaugural Corporate Responsibility Report, outlining strategies and progress in environmental, social, and governance (ESG) practices. Key highlights for 2021 include:
- Diversity on the Board of Trustees increased to over 30%.
- 92% Independent Trustee representation.
- $1.5 million contributed to a community learning center.
- 4,000+ volunteer hours logged by team members.
- Reduction in GHG emissions by 4.8% year-over-year.
The report emphasizes measurable outcomes that enhance company performance, community impact, and future corporate responsibility goals.
Kite Realty Group Trust (NYSE: KRG) will announce its financial results for Q3 2022 on November 2, after market close. Following this, a conference call is scheduled for November 3 at 11:00 a.m. Eastern Time to discuss these results. KRG is a leading real estate investment trust focusing on open-air shopping centers and mixed-use properties, with a portfolio that spans approximately 28.8 million square feet. The company emphasizes necessity-based retail, particularly in grocery-anchored centers located in growing markets.
Kite Realty Group (NYSE: KRG) is expanding Southlake Town Square with several new premier retail brands set to open in 2023. The lifestyle destination will welcome brands like gorjana, Aritzia, Mizzen + Main, Faherty, and Tecovas, enhancing its diverse shopping mix. This follows a year of significant growth, with recent additions like Nike and Aerie. The expansion reflects KRG's strategy to optimize its retail portfolio, emphasizing the project’s evolution and potential for increased foot traffic.
Kite Realty Group Trust (NYSE: KRG) has declared a quarterly cash distribution of $0.22 per common share for Q3 2022. This payment is scheduled for on or about October 14, 2022, to shareholders on record as of October 7, 2022. KRG is a leading real estate investment trust focused on open-air shopping centers and mixed-use assets, with a portfolio of nearly 181 properties across key markets. The company emphasizes grocery-anchored centers and has extensive experience in real estate operations, aiming to optimize returns for its investors.
Kite Realty Group Trust (NYSE: KRG) reported strong second-quarter results, leasing approximately 1.2 million square feet with a 13.2% comparable cash leasing spread. The company acquired Palms Plaza in Boca Raton for $35.8 million and increased its 2022 FFO guidance to $1.80 - $1.86 per diluted share.
Net income attributed to common shareholders was $13.1 million, compared to a loss last year. The blended cash leasing spreads across new and renewal leases indicated strong demand, and the retail portfolio's occupancy improved to 93.8%.
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