INDIANAPOLIS, Nov. 29, 2017 (GLOBE NEWSWIRE) -- Kite Realty Group Trust (NYSE:KRG) (the “Company”) announced today that its Board of Trustees declared a quarterly cash distribution of $0.3175 per common share for the quarter ended December 31, 2017, which represents an increase of 5.0% compared to the dividend paid for the prior quarter. This distribution will be paid on or about January 12, 2018, to shareholders of record as of January 5, 2018.
About Kite Realty Group Trust
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) engaged primarily in the ownership and operation, acquisition, development and redevelopment of high-quality neighborhood and community shopping centers in select markets in the United States. As of September 30, 2017, we owned interests in 117 operating and redevelopment properties totaling approximately 23.1 million square feet and two development projects currently under construction.
Our strategy is to maximize the cash flow of our operating properties, successfully complete the construction and lease-up of our redevelopment and development portfolio, and identify additional opportunities to acquire or dispose of properties to further strengthen the Company. New investments are focused in the shopping center sector primarily in markets where we believe we can leverage our existing infrastructure and relationships to generate attractive risk-adjusted returns or otherwise in desirable trade areas. Dispositions are generally designed to increase the quality of our portfolio and to strengthen the Company’s balance sheet.
EVP & CFO
Source:Kite Realty Group Trust