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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) has announced the allocation of Retail Property of America, Inc.'s 2021 dividend distributions on its common stock. Key details include a total distribution of $0.22 per share, payable on April 9, 2021, for the record date of March 26, 2021. The distributions include an ordinary dividend of $0.17116 per share, a capital gain distribution of $0.00000, and a non-taxable distribution of $0.04884. The company continues to enhance its portfolio, focusing on grocery-anchored shopping centers in strategic markets.
Kite Realty Group Trust (NYSE: KRG) has announced that it will release its financial results for Q4 2021 on February 14, 2022. A conference call is scheduled for February 15 at 11:00 a.m. ET to discuss the results. KRG focuses on owning and operating grocery-anchored shopping centers and mixed-use assets, with a portfolio comprising over 30 million square feet of gross leasable space across 185 properties. The company is headquartered in Indianapolis and has nearly 60 years of real estate experience.
Kite Realty Group Trust (NYSE: KRG) will release its financial results for Q4 2021 on February 10, after market close. A conference call is scheduled for February 11 at 11:00 a.m. Eastern Time to discuss these results. KRG focuses on grocery-anchored shopping centers, with a portfolio of 185 U.S. properties totaling over 30 million square feet of gross leasable space. The company emphasizes its operational expertise in real estate development and management, aiming to enhance shareholder value.
Kite Realty Group Trust (NYSE: KRG) will announce its financial results for Q4 2021 on February 10, 2022, after market close. A conference call will follow on February 11 at 11:00 a.m. ET, where they will discuss these results. KRG is a leading real estate investment trust focused on grocery-anchored shopping centers and mixed-use properties, with interests in 185 locations across the U.S. as of September 30, 2021. The company emphasizes optimizing its portfolio to enhance shareholder value.
Kite Realty Group Trust (NYSE: KRG) declared a quarterly cash distribution of $0.19 per common share for the quarter ending December 31, 2021. The payment is set for January 14, 2022, to shareholders of record by January 7, 2022. As of September 30, 2021, the company owned interests in 185 U.S. open-air shopping centers and mixed-use assets, spanning over 30 million square feet. KRG focuses on grocery-anchored centers in growth markets, leveraging nearly 60 years of experience in real estate.
Kite Realty Group Trust (NYSE: KRG) reported its third quarter results for 2021, revealing a net loss of $7.0 million, or $0.08 per share, compared to a loss of $4.6 million in 2020. Despite this, the company generated NAREIT Funds From Operations (FFO) of $22.3 million, or $0.25 per diluted share. The merger with RPAI was completed on October 22, 2021, enhancing KRG’s portfolio and market position. The retail leased percentage improved to 92.8%, and annualized base rent rose to $18.54 per square foot. Due to the merger, KRG withdrew its 2021 earnings guidance but plans to provide 2022 guidance in the fourth quarter.
Kite Realty Group Trust (NYSE: KRG) has successfully merged with Retail Properties of America, Inc. (NYSE: RPAI), doubling its portfolio in high-growth markets. The merger, now complete, enhances KRG's presence in strategic areas while being immediately accretive to FFO and NAV. Shareholders can expect significant synergies through improved leasing and optimized NOI margins. KRG will continue under its current leadership, with the stock trading as KRG. RPAI shareholders will receive 0.623 KRG shares per RPAI share, and RPAI will cease trading on the NYSE.
Kite Realty Group Trust (NYSE: KRG) and Retail Properties of America, Inc. (NYSE: RPAI) have successfully approved their merger, with KRG as the surviving entity. At KRG's special meeting, 99.7% of votes endorsed the issuance of shares to RPAI stockholders, representing 88.0% of KRG's outstanding shares. Similarly, RPAI's meeting saw 98.1% approval from its stockholders. The merger is set to close on October 22, 2021, granting RPAI shareholders 0.623 KRG shares for each RPAI share held, resulting in RPAI's delisting from the NYSE.
Kite Realty Group Trust (NYSE: KRG) will announce its financial results for Q3 2021 on October 28, 2021, after market close. A conference call for discussion is scheduled for October 29, 2021, at 11:00 AM ET, accessible domestically at (844) 309-0605 and internationally at (574) 990-9933. KRG is a vertically integrated REIT focused on enhancing shopping experiences through its neighborhood and lifestyle centers. The company aims to maximize value for shareholders through strategic portfolio management.
Kite Realty Group Trust (KRG) declared a quarterly cash distribution of $0.18 per common share for Q3 2021. Shareholders of record as of October 1, 2021 will receive this payment on or about October 8, 2021. The distribution underscores the company's commitment to returning value to its shareholders amid ongoing market challenges.
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