Kite Realty Group Trust Reports Fourth Quarter and Full Year 2016 Operating Results
We deliver high quality retail destinations
Kite Realty Group Trust Announces Tax Reporting Information for 2016 Dividend Distributions
Kite Realty Group Trust to Report Fourth Quarter 2016 Financial Results on February 2, 2017
Kite Realty Group Trust Declares 5.2% Increase in Quarterly Common Dividend
From our Chairman & CEO, John Kite
We finished a solid fourth quarter and full year 2016,” said John Kite, Chief Executive Officer. “We executed our inaugural public debt offering at an attractive 4% coupon. We ended the year with $430 million of liquidity and only $90 million of debt maturing through 2020. We generated a 3.6% increase in same-property NOI for the quarter, or 4.5% excluding the impact of our 3-R program. Small shop leasing is approaching our 90% goal, as we increased another 130 basis points from last year. Our redevelopment efforts are progressing according to plan, as we were able to successfully complete four projects in the fourth quarter. By continuing to grow free cash flow, we were able to increase our quarterly cash dividend another 5.2% at the end of the year. As we look forward into 2017, we will focus on achieving our long-term strategic goals and will continue to provide value for our shareholders.