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It department kite realty7/23/2023 ![]() ![]() For more information, please visit .Ĭonnect with KRG: LinkedIn | Twitter | Instagram | Facebook Using operational, development, and redevelopment expertise, KRG continuously optimizes its portfolio to maximize value and return to its shareholders. KRG connects consumers to retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers. Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. Upon completion of the merger, the common shares of the combined company will trade under the ticker symbol “KRG” on the NYSE, and RPAI’s common stock will be delisted from the NYSE. Upon completion of the merger, pursuant to the terms of the definitive merger agreement entered into by and between KRG and RPAI on July 18, 2021, RPAI stockholders will be entitled to receive 0.623 newly issued KRG common shares for each share of RPAI common stock that they owned immediately prior to the effective time of the merger. The merger is expected to close on October 22, 2021, subject to the satisfaction or waiver of customary closing conditions. ![]() The final voting results will be reported on a Form 8-K filed with the Securities and Exchange Commission by each of KRG and RPAI with respect to their applicable special meetings. (NYSE: RPAI), a first-class owner and operator of high-quality, open-air and mixed-use shopping centers, announced today that KRG shareholders and RPAI stockholders approved all of the proposals necessary for the closing of the previously announced merger of RPAI into a subsidiary of KRG, with KRG continuing as the surviving public company.Īt the special meeting of KRG shareholders, approximately 99.7% of the votes were cast for the approval of the issuance of common shares to RPAI stockholders in the merger, which represented approximately 88.0% of the outstanding shares of KRG common stock.Īt the special meeting of RPAI stockholders, approximately 98.1% of the votes were cast for the approval of the merger agreement and the merger, which represented approximately 79.7% of the outstanding shares of RPAI common stock. 19, 2021 (GLOBE NEWSWIRE) - Kite Realty Group Trust (NYSE: KRG), a premier owner and operator of open-air, grocery-anchored shopping centers, and Retail Properties of America, Inc. This story was generated by Automated Insights () using data from Zacks Investment Research.INDIANAPOLIS and OAK BROOK, Ill., Oct. Kite Realty Group expects full-year funds from operations in the range of $1.92 to $1.98 per share. The real estate investment trust, based in Indianapolis, posted revenue of $206.8 million in the period. The company said it had net income of $5.4 million, or 2 cents per share. It takes net income and adds back items such as depreciation and amortization. The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 47 cents per share.įunds from operations is a closely watched measure in the REIT industry. The Indianapolis-based real estate investment trust said it had funds from operations of $112.3 million, or 51 cents per share, in the period. The results topped Wall Street expectations. INDIANAPOLIS (AP) - INDIANAPOLIS (AP) - Kite Realty Group Trust (KRG) on Monday reported a key measure of profitability in its first quarter.
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