Summary
[...] as the shares of most publicly traded real estate investment trusts have bounced back sharply from the lows in March, Kite's shares have lagged. The shares trade for less than the $5 threshold required by many institutional investors; fewer short sellers meant less of a chance for upward momentum from a short squeeze; and the company's stock offering was more dilutive than those of most REITs (Kite's most recent offering roughly doubled its outstanding share count).
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Extract
Kite Realty Misses Out On Revival
Kite Realty Group Trust has stuck pretty closely to the REIT recession playbook: Renegotiate debt, sell new shares, cut dividends, and set the development engine to idle.
Like its peers, the Indianapolis-based owner and developer of shopping centers hopes t...See the full content of this document
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