Kite Realty Group TrustNYSE
Tue, Nov. 22, 4:44 PM
Thu, Oct. 27, 4:33 PM
Wed, Oct. 26, 5:35 PM
- ACTG, AFL, AIV, AJG, ALDR, ALEX, ALJ, AMCC, AMGN, AMZN, ARAY, ARII, ASGN, ATEN, ATR, ATRC, AUY, AZPN, BGS, BIDU, BMRN, BOFI, BOOM, BSAC, BVN, CA, CATM, CBI, CBL, CEMP, CENX, CHDN, CLD, CLMS, CNMD, COLM, COWN, CPT, CRUS, CUBE, CXP, CY, DECK, DGII, DLR, ECOL, EGO, EHTH, ELLI, EMN, ESS, EXPE, FET, FII, FIX, FLEX, FLS, FORM, FPO, FR, FTNT, FTV, GIMO, GOOG, HBI, HIG, HLS, HTH, IART, IM, INT, INVA, IPHS, ISBC, ITGR, KAMN, KIM, KONA, KRG, LEG, LNKD, LOGM, MAA, MAC, MCK, MLNX, MOBL, MOH, MSA, MSTR, NANO, NATI, NGD, NR, NSIT, NSR, OFC, OII, OIS, OMCL, OSIS, PDFS, PEB, PFG, PKD, POWI, PSMT, PXLW, RGC, RSG, SGEN, SHOR, SIMO, SKYW, SMCI, SNMX, SPNC, SPSC, SRCL, SSD, SSNC, STRZA, SYK, SYNA, TDOC, TEAM, TFSL, TGB, TLGT, TMST, VCRA, VDSI, VR, VRSN, WRE, WRI, WSFS, YRCW
Mon, Oct. 10, 2:37 PM
Fri, Oct. 7, 8:19 AM
- Looking at Florida exposure among the 53 REITs in his coverage universe, BTIG's James Sullivan says the broad picture is nothing to get worried about - only 9 of the 53 have greater than 20% portfolio exposure, 5 have 10-15% exposure, 23 have less than 10% exposure, and 16% have zero exposure.
- Standout risks appear to be Equity One (NYSE:EQY), with nearly 41% of rent coming from Florida, EastGroup (NYSE:EGP) with almost 29%, and Kite Realty Group (NYSE:KRG) with 25%. He notes that "exposure" does necessarily mean the companies' REIT properties are concentrated in potentially affected areas.
Wed, Oct. 5, 5:35 PM
Thu, Aug. 11, 5:23 PM
Thu, Jul. 28, 4:32 PM
Wed, Jul. 27, 5:35 PM
- ACTG, AFL, AIV, AJG, ALDW, ALGN, ALJ, AMZN, ARII, ATEN, ATR, AUY, BCOV, BGS, BIDU, BOOM, BRKS, CAA, CATM, CBL, CBS, CENX, CHMT, CLD, CLMS, COLM, COWN, CPHD, CPT, CUBE, CWST, CY, DECK, DGI, DGII, DLR, DTLK, ECOL, EEP, EGO, EHTH, EIX, ELLI, EMN, EQC, ES, ESS, EXPE, EYES, FE, FET, FICO, FII, FIX, FLS, FPO, FR, FTNT, GIMO, GNMK, GOOG, HIG, HLS, IM, INVA, INVN, ISIL, ITGR, IXYS, KAMN, KBR, KLAC, KRG, LEG, LMNX, LPLA, LYV, MATW, MOBL, MSCC, MSTR, MTD, N, NGVC, NR, NSR, OMCL, OUTR, PCCC, PDFS, PFG, PXLW, QGEN, QSII, RGA, RMD, ROVI, RSG, RTEC, SB, SBAC, SKYW, SNMX, SPNC, SRCL, STMP, STRZA, SYNA, TCO, TFSL, THG, TLGT, TNDM, UCTT, ULH, VCRA, VDSI, VRSN, WDC, WLK, WRI, WYNN, YRCW
Thu, Jun. 16, 5:46 PM
- Kite Realty (NYSE:KRG) declares $0.2875/share quarterly dividend, in line with previous.
- Forward yield 4.25%
- Payable July 14; for shareholders of record July 7; ex-div July 5.
Tue, Jun. 14, 9:33 AM
- The dive in the stock price of WP Glimcher (NYSE:WPG) yesterday after it announced it was not in sale talks with Kite Realty (NYSE:KRG) - not to mention the big jump in KRG's price - was telling, writes Shelly Banjo. For one, it shows investors have little faith WPG can turn around its portfolio of nearly 120 strip malls, and second it suggests the deal wouldn't have been a good investment for Kite.
- Over the past year, shares of WPG are lower by 20% vs. a 14% rise for the broader mall REIT sector. WPG now trades at just 6.4x expected FFO vs. an average 16.6x for retail REITs.
- While it's popular to say malls are dying, says Banjo, the reality is one of a bifurcated market - with those exposed to high-end neighborhoods and luxury retailers doing well. Those in poorer neighborhoods exposed to struggling department stores and regional retailers are doing most of the dying.
- Along with WP Glimcher, CBL & Associates (NYSE:CBL), and Wheeler Real Estate (NASDAQ:WHLR) are the worst three performers in Bloomberg's retail REIT index since January 2015.
- Might other suitors await? High-end shops like Simon Property (NYSE:SPG), Taubman (NYSE:TCO), or General Growth (NYSE:GGP) are likely not interested in WPG's assets, and while Brookfield's purchase of Rouse Properties shows some interest in lower-end real estate, Brookfield already owned one-third of Rouse, and Rouse's portfolio was a small one with just three dozen properties.
Mon, Jun. 13, 12:49 PM
- Noting it's not company policy to comment on speculation, WP Glimcher (WPG -7.2%) nevertheless says it's not in talks involving a merger or any other strategic alternative with any third parties.
- The stock shot higher last week on a report the company was in talks about a sale to Kite Realty Group (KRG +4.2%).
Thu, Jun. 9, 7:59 AM
- WP Glimcher (NYSE:WPG) shot higher in late action yesterday on a report its in sale talks with Kite Realty Group (NYSE:KRG). Both are similarly sized, with KRG at a $2.3B market cap, and WPG at $2B.
- Kite is no stranger to acquisitions, having purchased Inland Diversified Real Estate Trust in 2014 for $1.2B. WP Glimcher is the product of Washington Prime Group's $2B purchase of Glimcher Realty Trust last year. Washington Prime was spun out of Simon Property Group in 2014. These guys know how to keep their bankers happy.
Tue, May 17, 11:02 AM
- Following up on yesterday's story about the divergence between the stock prices of major retailers (down) and those of their landlords (up), Bloomberg's Rani Molla and Shelly Banjo break down the numbers further.
- They find those REITs with a large portion of portfolios concentrated in malls are down 10% Y/Y vs. all REITs, which are higher by 6%. Going further, they find those REITs with exposure to higher-end malls and outlet centers - Simon Property Group (NYSE:SPG) and Tanger Factory (NYSEMKT:SKY) come to mind – have been spared, while those owning older malls have taken the hit. CBL & Associates (NYSE:CBL) and WP Glimcher (NYSE:WPG) are down 40% and 30% this year, respectively.
- It's easy to pick on mall owners, but a broad slowdown at brick-and-mortar stores is ultimately a threat to all retail landlords, as traffic across all types of retail real estate in the U.S. and Canada has fallen as much as 18% Y/Y.
- On the good side is low supply as developers have stopped building, but even that's begun to run its course, they write.
- REITs of interest: O, NNN, GGP, KIM, WRI, MAC, TCO, PEI, SKT, TCO, ROIC, RPAI, IRC, FRT, DDR, WHLR, EQY, KRG, REG
Mon, May 2, 9:17 AM
- Citing the recent run higher in the stock, analyst Collin Mings downgrades Kite Realty Trust (NYSE:KRG) to Outperform from Strong Buy. The $30 price target representing 10% upside is maintained.
Thu, Apr. 28, 4:22 PM
- Kite Realty (NYSE:KRG): Q1 FFO of $0.52 beats by $0.02.
- Revenue of $88.55M (+2.0% Y/Y) beats by $1.34M.