Kite Realty Group Trust Announces Quarterly Ordinary Dividend | New
INDIANAPOLIS, Aug. 11, 2021 (GLOBE NEWSWIRE) – Kite Realty Group Trust (NYSE: KRG) today announced that its board of directors has declared a quarterly cash distribution of $ 0.18 per common share for the quarter se ending September 30, 2021. This distribution will be paid on or around October 8, 2021 to shareholders of record on October 1, 2021.
About Kite Realty Group Trust
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in desirable markets through our portfolio of neighborhood, community and lifestyle centers. Through our expertise in operations, development and redevelopment, we continually optimize our portfolio to maximize value and return to our shareholders. For more information, please visit our website at kiterealty.com.
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This press release, along with other statements and information made publicly available by us, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and expectations which may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with precision and some of which may not even be true. be anticipated. Future events and actual results, performances, transactions or achievements, financial or otherwise, may differ materially from the results, performances, transactions or achievements, financial or otherwise, expressed or implied by forward-looking statements.
Currently, one of the most important factors that could cause actual results to differ materially from our forward-looking statements is the potential negative effect of the current novel coronavirus pandemic, or COVID-19, including resurgences and mutations. possible, on the financial situation. the condition, results of operations, cash flow and performance of the Company and its tenants, the real estate market and the global economy and financial markets. The effects of COVID-19 have caused and may continue to cause many of our tenants to close stores, reduce hours or significantly limit service, making it difficult for them to meet their rent obligations, and therefore and will continue to have a significant impact on us for the foreseeable future. COVID-19 has affected us significantly, and the extent to which it will continue to affect us and our tenants will depend on future developments, which are very uncertain and cannot be predicted with confidence, including the extent, severity and duration pandemic, the continued speed of vaccine distribution, the effectiveness of vaccines, including against COVID-19 variants, vaccine acceptance and availability, measures taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, among others. In addition, investors are urged to interpret many of the risks identified in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2020 as being increased due to the impacts of the COVID-19 pandemic.
Other risks, uncertainties and other factors that could cause such differences, some of which could be material, include, but are not limited to: the ability to complete the merger with RPAI, including the satisfaction of the conditions necessary for the closing of the transaction. proposed transaction (such as as approval by shareholders of both companies), on the terms or schedule currently contemplated, or not at all; the occurrence of any event, change or other circumstance that may result in the termination of the Merger Agreement relating to the proposed transaction with RPAI; risks associated with acquisitions in general, including the integration of the activities of the Company and RPAI and the ability to achieve expected synergies or cost savings; the risk that disruptions caused by or related to the proposed transaction will adversely affect the business of the Company, including current plans and operations; national and local economy, business, real estate and other market conditions, particularly in relation to weak or negative growth of the US economy as well as economic uncertainty; funding risks, including the availability and costs associated with sources of liquidity; the Company’s ability to refinance or extend the maturity dates of the Company’s debt; the level and volatility of interest rates; the financial stability of tenants, including their ability to pay rent or apply for rent concessions, and the risk of tenant insolvency and bankruptcy; the competitive environment in which the Company operates, including the potential oversupply and reduced demand for rental space; acquisition, disposal, development and joint venture risks; risks associated with the ownership and management of assets, including the relative illiquidity of real estate investments, periodic costs of repairing, renovating and re-letting spaces, operating costs and expenses, vacations or inability to rent spaces on favorable terms or not at all; the Company’s ability to maintain the Company’s status as a real estate investment trust for US federal income tax purposes; environmental liabilities and other potentials; depreciation in the value of real estate held by the Company; the attractiveness of our properties to tenants, the real and perceived impact of e-commerce on the value of shopping center assets and changing demographics and customer traffic patterns; risks related to our current geographic concentration of the Company’s properties in Florida, Indiana, Texas, North Carolina and Nevada; civil unrest, acts of terrorism or war, natural disasters, climate change, epidemics, pandemics (including COVID-19), natural disasters and extreme weather conditions such as hurricanes, tropical storms, tornadoes, earthquakes, droughts, floods and fires, including such events or conditions which may result in underinsured or uninsured losses or other increased costs and expenses; changes in government laws and regulations, including government orders affecting the use of the Company’s properties or the ability of its tenants to operate, and the costs of compliance with such amended government laws and regulations; possible short- or long-term changes in consumer behavior due to COVID-19 and fear of future pandemics; insurance costs and coverage; risks associated with cybersecurity attacks and the loss of confidential information and other business disruption; other factors affecting the real estate industry in general; and other risks identified in the reports that the Company files with the Securities and Exchange Commission (“the SEC”) or in other documents that it publicly discloses, including, in particular, the section entitled “Factors of risk ”in the Company’s annual report on Form 10 -K for the fiscal year ended December 31, 2020, and in the Company’s quarterly reports on Form 10-Q. The Company assumes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
This earnings press release also includes certain non-GAAP forward-looking information. Due to the great variability and the difficulty in making precise forecasts and projections of some of the information excluded from these estimates, as well as some of the excluded information not being verifiable or accessible, the Company is not in a position to quantify some amounts that should be included. in the most directly comparable GAAP financial measures without unreasonable efforts.
Contact details: Kite Realty Group Trust
Jason Colton Senior Vice President, Capital Markets and Investor Relations 317.713.2762 [email protected]