Kite Realty Group Trust Updates for Fourth Quarter
INDIANAPOLIS, Jan. 6, 2022 (GLOBE NEWSWIRE) – Kite Realty Group Trust (NYSE: KRG) announced today that it has reported financial results for the quarter ended December 31, 2021 after closing on Monday, February 14th, 2021 will publish. KRG will host a conference call the following day, February 15, at 11:00 am Eastern Time to discuss its financial results.
The dial-in numbers are (844) 309-0605 for domestic callers and (574) 990-9933 for international callers (Conference ID: 3958479). A live webcast of the conference call will be available at kiterealty.com. In addition, a webcast replay of the call will remain available on the company website.
About Kite Realty Group Trust
Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) based in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping malls and mixed-use assets. The company’s portfolio, which is primarily anchored in the food sector, is located in high-growth, warmer and cheaper markets, as well as in selected strategic gateway markets. The combination of demand-oriented neighborhood and community centers anchored in the grocery store as well as lively mixed-use properties make the KRG portfolio an ideal mix for retailers and consumers. KRG has been listed on the stock exchange since 2004 and has almost 60 years of experience in the development, construction and operation of real estate. Using operational, investment, development and restructuring expertise, KRG continuously optimizes its portfolio to maximize value and return for shareholders. As of September 30, 2021, proforma for the merger, the company owned interests in 185 U.S. open-air malls and mixed-use assets with gross lettable space in excess of 30 million square feet. For more information, please visit kiterealty.com.
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This press release, together with other statements and information we have publicly released, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the âSecurities Actâ) and Section 21E of the Securities Exchange Act of 1934. Such statements are based on beliefs and expectations that may not materialize 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 foreseen. Future events and actual results, performance, transactions or achievements, financial or otherwise, could differ materially from the results, performance, transactions or achievements, financial or otherwise, expressed or implied in 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 potential negative impact of the current novel coronavirus or COVID-19 pandemic, including possible flare-ups and mutations, on our financial condition, results of operations , Cash flow and performance of the company and its tenants, the real estate market as well as the global economy and financial markets. The effects of COVID-19 have resulted in and may continue to cause many of our tenants to close stores, reduce opening hours or significantly curtail service, making it difficult for them to meet their rental obligations and therefore has and will continue to have a significant impact on the foreseeable future Future. COVID-19 has hit us significantly, and the extent to which it will continue to affect us and our tenants will depend on future developments, including the extent, severity and duration, which are highly uncertain and cannot be predicted with confidence the pandemic. the continued pace of vaccine distribution, the effectiveness of vaccines, including against variants of COVID-19, the acceptance and availability of vaccines, the measures taken to contain or mitigate the effects of the pandemic, the direct and indirect economic effects of the pandemic and among others Containment measures. In addition, investors are cautioned that many of the items listed in the âRisk Factorsâ section of our Annual Report on Form 10-K for the 31st impact 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: the risks associated with the merger with RPAI, including the integration of the combined company’s operations, the ability , achieve anticipated synergies or cost savings and potential disruptions to the plans and operations of the company; national and local economic, business, real estate and other market conditions, particularly in connection with low or negative growth in the US economy and economic uncertainty; Funding risks, including the availability of and related costs of sources of liquidity; the company’s ability to refinance the company’s debt or to extend due dates; The level and volatility of interest rates; tenants ‘financial stability, including their ability to pay rent or apply for rental discounts, and the risk of tenants’ bankruptcy and bankruptcy; the competitive landscape in which the company operates, including possible oversupply and reduced demand for rental space; Acquisition, divestment, development and joint venture risks; Ownership and management risks, including the relative illiquidity of real estate investments, periodic costs of repair, renovation and re-letting of space, operating costs and expenses, vacancy or the inability to rent space on favorable terms or at all; the Company’s ability to maintain the Company’s real estate investment trust status for US federal income tax purposes; potential environmental and other obligations; Depreciation 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 malls’ assets, and changing demographics and customer traffic patterns; Risks associated with our current geographic concentration of the Company’s properties in Texas, Florida, New York, Maryland, Virginia and North Carolina; Civil unrest, acts of terrorism or war, force majeure, climate change, epidemics, pandemics (including COVID-19), natural disasters and severe weather conditions such as hurricanes, tropical storms, tornadoes, earthquakes, droughts, floods and fires, including those events or conditions that lead to may result in under-insured or uninsured losses or other increased costs and expenses; Changes in laws and government regulations, including government orders, that affect the use of Company properties or the operability of its tenants, and the cost of complying with such changed laws and government regulations; possible short- or long-term changes in consumer behavior due to COVID-19 and the fear of future pandemics; Insurance costs and coverage; Risks related to cybersecurity attacks and the loss of confidential information and other business interruptions; other factors affecting the real estate industry in general; and other risks identified in reports the company fils with the Securities and Exchange Commission (âthe SECâ) or other documents it publicly circulates, including but not limited to the âRisk Factorsâ section of 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 for any other reason.
Contact information: Kite Realty Group Trust
SVP, Capital Market & Investor Relations