Preferred Stock Channel
Kite Realty Group Trust | 8.250% Series A Cumulative Redeemable Perpetual Preferred Shares (KRG.PRA)

This preferred is marked as having been called.
Prospectus excerpt:  We are offering 2,600,000 of our 8.250% Series A Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, which we refer to as our Series A Preferred Shares. This is our original issuance of our Series A Preferred Shares, and we have no other preferred shares outstanding as of the date hereof.

Dividends on our Series A Preferred Shares will be cumulative from the date of original issue and payable quarterly in arrears on or about the 1st day of each March, June, September and December, beginning on March 1, 2011, at the rate of 8.250% per annum of their liquidation preference, which is equivalent to $2.0625 per annum per share. If following a change of control of our company, either our Series A Preferred Shares (or any preferred shares of the surviving entity that are issued in exchange for our Series A Preferred Shares) or the common shares of the surviving entity, as applicable, are not listed on the New York Stock Exchange, or NYSE, or quoted on the NASDAQ Stock Market, or NASDAQ (or listed or quoted on a successor exchange or quotation system), holders of our Series A Preferred Shares will be entitled to receive cumulative cash dividends from, and including, the first date on which both the change of control occurred and either our Series A Preferred Shares (or any preferred shares of the surviving entity that are issued in exchange for our Series A Preferred Shares) or the common shares of the surviving entity, as applicable, are not so listed or quoted, at the increased rate of 12.250% per annum of the liquidation preference of our Series A Preferred Shares (equivalent to $3.0625 per annum per share) for as long as either our Series A Preferred Shares (or any preferred shares of the surviving entity that are issued in exchange for our Series A Preferred Shares) or the common shares of the surviving entity, as applicable, are not so listed or quoted. The first dividend on our Series A Preferred Shares sold in this offering is payable on March 1, 2011 (in the amount of $0.48697917 per share).

Except in instances relating to preservation of our qualification as a real estate investment trust, or REIT, or in connection with a change of control of our company, our Series A Preferred Shares are not redeemable prior to December 7, 2015. On and after December 7, 2015, we may, at our option, redeem our Series A Preferred Shares in whole, at any time, or in part, from time to time, for cash at a redemption price of $25 per share, plus any accrued and unpaid dividends to, but not including, the date of redemption. If at any time following a change of control, either our Series A Preferred Shares (or any preferred shares of the surviving entity that are issued in exchange for our Series A Preferred Shares) or the common shares of the surviving entity, as applicable, are not listed on the NYSE or quoted on NASDAQ (or listed or quoted on a successor exchange or quotation system), we will have the option to redeem our Series A Preferred Shares, in whole but not in part, within 90 days after the first date on which both the change of control has occurred and either our Series A Preferred Shares (or any preferred shares of the surviving entity that are issued in exchange for our Series A Preferred Shares) or the common shares of the surviving entity, as applicable, are not so listed or quoted, for cash at $25 per share, plus accrued and unpaid dividends (whether or not declared) to, but not including, the redemption date. Our Series A Preferred Shares have no maturity date and will remain outstanding indefinitely unless redeemed by us, and they are not subject to any sinking fund or mandatory redemption and are not convertible into any of our other securities.

Full Prospectus PDF », KRG Page »

Series:A
Alternate symbology:KRG-A, KRG-PA, KRGprA
Redeemable?:Yes
Call Date:12/7/2015 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:2,600,000
Overallotment:390,000
Liquidation Preference:$25
Original Coupon:8.25%
Pay Period:Quarterly
Pay Dates:1-Mar, 1-Jun, 1-Sep, 1-Dec
CDx3 Compliance Rating: Learn KRG.PRA's Rating
Kite Realty Group Trust is a real estate investment trust. Through its majority-owned subsidiary, Kite Realty Group, L.P., Co. owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in select markets in the U.S. Co. is involved in the collection of contractual rents and reimbursement payments from tenants at its properties.

Preferred: KRG.PRA


Open the KRG Information Page »
Name:  Kite Realty Group Trust
Website:  www.kiterealty.com
Sector:  REITs
Number of ETFs Holding KRG:  57 (see which ones)
Total Market Value Held by ETFs:  $1,025,894,959.6
Total Market Capitalization:  $4,577,000,000
% of Market Cap. Held by ETFs:  22.41%

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