Kite Realty Group announced 2024 dividend allocations for its common stock, detailing cash distributions and classifications.
Quiver AI Summary
Kite Realty Group (NYSE: KRG) announced the distribution details for its 2024 dividends on common stock, which will be reported on Form 1099-DIV. The total distribution per share ranges from $0.25 to $0.26 across four payment dates, with ordinary dividends constituting the majority of the total. The press release highlights that 96.36% of the total distribution represents a return on investment while also mentioning that the qualified REIT dividends may be eligible for a 20% deduction under Section 199A. Kite Realty Group, a real estate investment trust, specializes in managing open-air shopping centers and mixed-use properties primarily located in high-growth areas. The company seeks to maximize value for shareholders by leveraging its extensive experience in real estate development and operations.
Potential Positives
- Kite Realty Group announced a consistent quarterly dividend distribution of $0.25 per share for the first three quarters of 2024, indicating stable financial performance and commitment to returning value to shareholders.
- The total distribution for the fourth quarter of 2024 is slightly increased to $0.26 per share, reflecting a positive trend in the company's dividend policy.
- The dividend allocations include a significant portion (96.36%) classified as ordinary dividends, which may be eligible for the 20% qualified business income deduction under Section 199A, providing potential tax benefits for shareholders.
Potential Negatives
- The lack of significant increases in dividend distributions over several quarters may indicate limited growth potential and could deter investors seeking higher returns.
- The potential economic uncertainties mentioned, such as rising interest rates and inflation, imply challenges that could negatively impact the company's financial stability and tenant capabilities.
- The press release highlights the concentration of the company's properties in certain states, which raises concerns about geographic risks and vulnerability to localized economic downturns.
FAQ
What is the total dividend distribution for Kite Realty Group in 2024?
The total dividend distribution per share for Kite Realty Group in 2024 is $1.01.
When are the record and payable dates for the dividends?
The record and payable dates for the dividends vary, with record dates from January to October 2024.
What type of dividends are included in Kite Realty's 2024 distribution?
Kite Realty's 2024 dividend distribution includes ordinary dividends, capital gain distributions, and non-taxable distributions.
What percentage of the dividends qualifies for Section 199A deductions?
Approximately 96.36% of the dividends qualify as ordinary dividends under Section 199A.
Where can I find more information about Kite Realty Group?
Additional information about Kite Realty Group can be found on their official website at www.kiterealty.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$KRG Insider Trading Activity
$KRG insiders have traded $KRG stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $KRG stock by insiders over the last 6 months:
- STEVEN P GRIMES has made 0 purchases and 2 sales selling 64,545 shares for an estimated $1,762,233.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$KRG Hedge Fund Activity
We have seen 160 institutional investors add shares of $KRG stock to their portfolio, and 153 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PRUDENTIAL FINANCIAL INC removed 1,870,504 shares (-95.3%) from their portfolio in Q3 2024, for an estimated $49,680,586
- INVESCO LTD. added 1,679,174 shares (+336.4%) to their portfolio in Q3 2024, for an estimated $44,598,861
- HUDSON BAY CAPITAL MANAGEMENT LP added 1,478,530 shares (+inf%) to their portfolio in Q3 2024, for an estimated $39,269,756
- CITADEL ADVISORS LLC removed 1,098,167 shares (-93.1%) from their portfolio in Q3 2024, for an estimated $29,167,315
- ALYESKA INVESTMENT GROUP, L.P. added 1,048,806 shares (+292.4%) to their portfolio in Q3 2024, for an estimated $27,856,287
- JPMORGAN CHASE & CO removed 935,695 shares (-8.6%) from their portfolio in Q3 2024, for an estimated $24,852,059
- BROOKFIELD CORP /ON/ removed 799,390 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $21,231,798
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
INDIANAPOLIS, Jan. 24, 2025 (GLOBE NEWSWIRE) -- Kite Realty Group (NYSE: KRG) announced today the allocations of the Company's 2024 dividend distributions on its common stock. The allocations as they will be reported on Form 1099-DIV are as follows:
Common Shares | |||||||||||||||||||||
CUSIP |
Record
Date |
Payable
Date |
Total
Distribution per Share |
Ordinary
Dividend |
Capital
Gain Distribution |
Non-Taxable
Distribution 1 |
Section
199A Dividends 2 |
||||||||||||||
49803T300 | 1/5/2024 | 1/12/2024 | $ | 0.25 | $ | 0.24091 | $ | 0.00909 | $ | 0.00000 | $ | 0.24091 | |||||||||
49803T300 | 4/5/2024 | 4/12/2024 | 0.25 | 0.24091 | $ | 0.00909 | 0.00000 | 0.24091 | |||||||||||||
49803T300 | 7/9/2024 | 7/16/2024 | 0.25 | 0.24091 | $ | 0.00909 | 0.00000 | 0.24091 | |||||||||||||
49803T300 | 10/9/2024 | 10/16/2024 | 0.26 | 0.25055 | 0.00945 | 0.00000 | 0.25055 | ||||||||||||||
$ | 1.01 | $ | 0.97328 | $ | 0.03672 | $ | 0.00000 | $ | 0.97328 | ||||||||||||
96.36 | % | 3.64 | % | ||||||||||||||||||
-
Represents a return of stockholders’ original investment
-
Represents qualified REIT dividends that may be eligible for the 20% qualified business income deduction under Section 199A of the Internal Revenue Code of 1986, as amended, that is available for non-corporate taxpayers and is included in “Ordinary Dividends”.
About Kite Realty Group
Kite Realty Group Trust (NYSE: KRG), a real estate investment trust (REIT), is a premier owner and operator of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets. The combination of necessity-based neighborhood and community centers, along with vibrant mixed-use assets, makes the KRG portfolio an ideal platform for both retailers and consumers. Publicly listed since 2004, KRG has over 60 years of experience in developing, constructing, and operating real estate. Using operational, investment, development, and redevelopment expertise, KRG continuously optimizes its portfolio to maximize value and return to shareholders. As of September 30, 2024, the Company owned interests in 179 U.S. open-air shopping centers and mixed-use assets, comprising approximately 27.7 million square feet of gross leasable space. For more information, please visit www.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 (the “Securities Act”) 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 achievements, financial or otherwise, expressed or implied by the forward-looking statements.
Risks, uncertainties and other factors that might cause such differences, some of which could be material, include but are not limited to: economic, business, banking, real estate and other market conditions, particularly in connection with low or negative growth in the U.S. economy as well as economic uncertainty (including a potential economic slowdown or recession, rising interest rates, inflation, unemployment, or limited growth in consumer income or spending); financing risks, including the availability of, and costs associated with, sources of liquidity; the Company’s ability to refinance, or extend the maturity dates of, the Company’s indebtedness; the level and volatility of interest rates; the financial stability of the Company’s tenants; the competitive environment in which the Company operates, including potential oversupplies of, or a reduction in demand for, rental space; acquisition, disposition, development and joint venture risks; property ownership and management risks, including the relative illiquidity of real estate investments, and expenses, vacancies or the inability to rent space on favorable terms or at all; the Company’s ability to maintain the Company’s status as a real estate investment trust for U.S. federal income tax purposes; potential environmental and other liabilities; impairment in the value of real estate property the Company owns; the attractiveness of our properties to tenants, the actual and perceived impact of e-commerce on the value of shopping center assets, and changing demographics and customer traffic patterns; business continuity disruptions and a deterioration in our tenants’ ability to operate in affected areas or delays in the supply of products or services to us or our tenants from vendors that are needed to operate efficiently, causing costs to rise sharply and inventory to fall; risks related to our current geographical concentration of the Company’s properties in the states of Texas, Florida, and North Carolina and the metropolitan statistical areas of New York, Atlanta, Seattle, Chicago, and Washington, D.C.; civil unrest, acts of violence, terrorism or war, acts of God, climate change, epidemics, pandemics, natural disasters and severe weather conditions, including such events that may result in underinsured or uninsured losses or other increased costs and expenses; changes in laws and government regulations including governmental orders affecting the use of the Company’s properties or the ability of its tenants to operate, and the costs of complying with such changed laws and government regulations; possible short-term or long-term changes in consumer behavior due to COVID-19 and the fear of future pandemics; our ability to satisfy environmental, social or governance standards set by various constituencies; insurance costs and coverage, especially in Florida and Texas coastal areas; risks associated with cybersecurity attacks and the loss of confidential information and other business disruptions; other factors affecting the real estate industry generally; whether our current development projects and new development opportunities will benefit from our favorable cost of debt, below-target leverage and higher levels of free cash flow; and other risks identified in reports the Company files with the Securities and Exchange Commission or in other documents that it publicly disseminates, including, in particular, the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and in the Company’s quarterly reports on Form 10-Q. The Company undertakes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
Contact Information: Kite Realty Group
David Buell
SVP, Chief Accounting Officer
317.713.5467
[email protected]