Kite Realty Group: Too Cheap After Recent Sell-Off
Bret Jensen • 14 Comments
Bret Jensen • 14 Comments
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.
Sep. 3, 2015, 9:51 AM| Sep. 3, 2015, 9:51 AM
May 1, 2015, 12:42 PM
- Q1 adjusted FFO of $0.44 vs. $0.39 one year ago.
- Same property NOI (64 properties) up 4.4% Y/Y. Leased percentage of 95.1% down 20 bps. Economic occupancy of 92.9% up 140 bps.
- 77 leases executed during quarter for 377.5K square feet. 52 comparable new and renewal leases on 276K square feet. Cash spreads on new leases up 18.4%, on renewals up 7.1%, blended up 9%.
- 2015 FFO outlook is boosted by $0.03 on the bottom end to $1.93-$2.00 per share. NOI growth is expected at 3-3.5% vs. 2.5-3.5%.
- Previously: Kite Realty beats by $0.01, beats on revenue (April 30)
- KRG +3.3%
Apr. 10, 2015, 10:04 AM
- On the move alongside Excel Trust after it's sold to Blackstone for about $2B are peers Cedar Realty Trust (CDR +4.9%), Retail Properties of America (RPAI +2.2%), and Kite Realty Group (KRG +2.3%).
- Previously: Excel Trust sold to Blackstone; up 14.7% premarket (April 10)
Nov. 10, 2014, 5:36 PM
Feb. 10, 2014, 7:43 AM
- Kite Realty (KRG) +10.5% premarket on news the operator of community shopping centers agrees to acquire Inland Diversified Real Estate Trust for ~$1.2B in stock.
- KRG says the deal will allow it to enter markets including Westchester, N.Y., Bayonne, N.J., Las Vegas, Virginia Beach and Salt Lake City.
- Q4 earnings
Sep. 19, 2013, 5:36 PM
Kite Realty Group Trust, a real estate investment trust, invests in high-quality neighborhood and community shopping centers in selected markets in the US.
Industry: REIT - Retail
Country: United States
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