Kite Realty Group Statement of Trust
INDIANAPOLIS, Indiana, May 11, 2022 (GLOBE NEWSWIRE) — Kite Realty Group Trust (:KRG) today announced that its Board of Directors has declared a quarterly cash distribution of $0.21 per common share for the quarter ending June 30, 2022. This distribution will be paid on or about July 15, 2022 to shareholders of record as of July 8, 2022.
About Kite Realty Group Trust
Kite Realty Group Trust (:KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of outdoor shopping centers and assets mixed use. The Company’s portfolio, primarily focused on grocery stores, is located in the high-growth Sun Belt and certain strategic gateway markets. The combination of neighborhoods and community centers anchored in a grocery of necessity, along with vibrant mixed-use assets, makes ARK’s portfolio an ideal mix for retailers and consumers. Publicly listed since 2004, KRG has nearly 60 years of experience in the development, construction and operation of real estate. Through its expertise in operations, investment, development and redevelopment, KRG continually optimizes its portfolio to maximize shareholder value and return. As of March 31, 2022, the Company had interests in 181 outdoor shopping centers and mixed-use assets in the United States, representing approximately 28.8 million square feet of gross leasable space. For more information, visit kiterealty.com.
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This release, together with other statements and information publicly released 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 occur and are inherently subject to risks, uncertainties and other factors, many of which cannot be accurately predicted and some of which may not even be be anticipated. Future events and actual results, performance, transactions or achievements, financial or otherwise, may differ materially from the results, performance, transactions or achievements, financial or otherwise, expressed or implied by the 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 adverse effect of the current novel coronavirus, or COVID-19, pandemic, including resurgences, variants and possible changes, on the financial condition, results of operations, cash flows and performance of the Company and its tenants, the real estate market as well as the global economy and financial markets. In addition, investors are urged to interpret many of the risks identified in the section titled “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and in the Company’s Quarterly Reports. on Form 10-Q as are intensified due to the many ongoing negative effects of the COVID-19 pandemic.
Additional risks, uncertainties and other factors that could cause such differences, some of which could be material, include, but are not limited to: risks associated with the merger with RPAI, including the integration of the company’s operations combined, the ability to realize expected synergies or cost savings and potential disruptions to the Company’s plans and operations; national and local economic, business, real estate and other market conditions, particularly as they relate to weak or negative growth in the U.S. economy as well as economic uncertainty (including the potential effects inflation); the risk that our actual RNE for leases that have been signed but not yet opened will not match the expected RNE for leases that have been signed but not yet opened; 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; financial stability of tenants; the competitive environment in which the Company operates, including potential oversupply and reduced demand for rental space; acquisition, disposal, development and joint venture risks; risks relating to the ownership and management of property, including the relative illiquidity of real estate investments, and the expense, vacancy or inability to lease the space on favorable terms or not at all; the Company’s ability to maintain its status as a real estate investment trust for US federal income tax purposes; potential environmental and other liabilities; depreciation of the value of real estate owned by the Company; the attractiveness of our properties to tenants, the actual and perceived impact of e-commerce on the value of shopping center assets and changing demographics and traffic patterns; interruptions to business continuity and deterioration of our tenants’ ability to operate in the affected areas or delays in the supply of products or services to us or our tenants by suppliers that are necessary to operate effectively, resulting in a sharp increase in costs and a drop in inventory; risks related to our current geographic concentration of the Company’s properties in Texas, Florida, New York, Maryland and North Carolina; civil unrest, acts of terrorism or war, acts of God, climate change, epidemics, pandemics (including COVID-19), acts of God and extreme weather conditions, including events that may result in underinsured or uninsured losses or other increased costs and expenses; changes in governmental laws and regulations, including governmental orders affecting the use of the Company’s properties or the ability of its tenants to operate, and the costs of complying with such changed governmental laws and regulations; possible short- or long-term changes in consumer behavior due to COVID-19 and fear of future pandemics; our ability to meet environmental, social or governance standards set by various interest groups; insurance costs and coverage; risks associated with cybersecurity attacks and loss of confidential information and other business interruptions; other factors affecting the real estate industry generally; and other risks identified in the Company’s filings with the Securities and Exchange Commission (“the SEC”) or other publicly available documents, 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, 2021, and in the Company’s Quarterly Reports on Form 10-Q. The Company undertakes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
Contact details: Kite Realty Group Trust
Senior Vice President, Capital Markets and Investor Relations