Kite Realty Group (KRG) slashes dividend 84%.

Kite Realty Group Trust (KRG) declared a quarterly dividend of $0.052 for the second quarter of 2020, representing an 84% decrease from the prior dividend rate of $0.3175.  The company's dividend announcement did not provide detail surrounding the change, but is consistent with dividend actions taken by many shopping center REITs as a result of the impact of COVID-19 on tenant operations and lease payments.

Kite Realty Group Trust (KRG) is a small-cap shopping center REIT with a total portfolio of 91 properties in 16 states.  The company was taken public in 2004 and is a member of the S&P SmallCap 600 index with a total market capitalization of approximately $2.3 billion.