Kite Realty Group Trust Announces Retirement of Gerald W. Grupe as Board of Trustees; Declares Quarterly Dividend, Payable on or About March 29, 2019
February 13, 2019 at 04:59 pm
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On February 8, 2019, Gerald W. Grupe discussed with Kite Realty Group Trust (company) his retirement from the Board of Trustees of the company, effective as of the end of his current term at the 2019 annual meeting of shareholders on May 14, 2019. As a result of his retirement, Mr. Grupe will not stand for reelection to the Board at the 2019 annual meeting of shareholders, and the Board has determined to reduce the size of the Board from nine to eight members for trustee elections in 2019.
The company also announced that its board of Trustees declared a quarterly cash distribution of $0.3175 per common share for the quarter ended March 31, 2019. This distribution will be paid on or about March 29, 2019, to shareholders of record as of March 22, 2019.
Kite Realty Group Trust is a real estate investment trust (REIT). The Company, through its subsidiary, Kite Realty Group, L.P., is engaged in the ownership, operation, acquisition, development and redevelopment of open-air shopping centers and mixed-use assets. The Companyâs primarily grocery-anchored portfolio is located in Sun Belt and various markets in the United States. The Company collects contractual rents and reimbursement payments from tenants under existing lease agreements at each of its properties. The Company owns interests in approximately 180 operating retail properties totaling approximately 28.1 million square feet and one office property with 0.3 million square feet. Of the 180 operating retail properties, 10 contain an office component. The Company also owns two development projects under construction as of this date. The Companyâs subsidiary is Kite Realty Group, L.P.