Kite Realty Group Trust Announces New Share Repurchase Program

By Benzinga6 days ago

INDIANAPOLIS, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Kite Realty Group Trust (NYSE:KRG) (the “Company“) announced today that the Company's Board of Trustees has authorized a new $150 million share repurchase program, which runs through February 28, 2022 unless otherwise extended by the Board of Trustees.

“Today we announced simultaneously putting in place a share buyback and ATM program. Considering current market volatility, these actions will provide KRG with maximum capital markets flexibility to maintain our strong balance sheet as we pursue our long-term business plan,“ said Heath Fear, Executive Vice President and CFO.

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 community, neighborhood, and lifestyle centers. Using operational, development, and redevelopment expertise, we continuously 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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Safe Harbor

This release, together with other statements and information publicly disseminated by us, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, performance, transactions or achievements, financial or otherwise, may differ materially from the results, performance, transactions or ...

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