KITE REALTY GROUP TRUST REPORTS FOURTH QUARTER 2014 RESULTS
A message from our Chairman and CEO – John A. Kite
“We completed an excellent fourth quarter and strategically transformative year for Kite Realty. We successfully completed and integrated a milestone $2.1 billion merger while quickly executing transactions to sell $318 million of non-core assets. The merger and subsequent asset sale improved our portfolio’s metrics and materially increased our net asset value. These actions also enabled us to further strengthen our balance sheet and increase our recurring cash flow, which was recognized when we were awarded investment grade ratings from both Moody’s and S&P,” said John Kite, Chairman and Chief Executive Officer. “Our 2015 outlook is very positive as supported by increasing our dividend by approximately 5 percent. Looking forward, we continue to focus on strong portfolio operations, improving asset quality by conservatively redeploying the sales proceeds, and enhancing our financial flexibility.”
Vision Drives Us. Passion Defines Us.
It is the mission of Kite Realty Group to own and operate quality retail destinations that offer the best possible selection of stores and restaurants in aesthetically pleasing and inviting shopping centers. This is accomplished through the acquisition, development and redevelopment of high quality assets in the communities we serve.
We will continue to be known in our industry as leaders and innovators of maximizing value and improving our assets – further building long-term value, sustainability and satisfied stakeholders including: shoppers, communities, retailers, shareholders and KRG team members.
By retaining and recruiting the best in class people, our dedicated and passionate team strives to provide quality customer service through honesty, transparency, decency and fairness; driving the success of our company and its future.