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Kite shares start trading under 1-for-4 split

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Shares of Kite Realty Group Trust began trading Tuesday under a previously announced 1-for-4 reverse split, fetching $25 each in the late-morning session.

The share price represents a jump of 308 percent, or $18.88, from Monday’s closing.

Indianapolis-based Kite last month engineered the split to convert every four of its 332.7 million outstanding shares into a single share, causing Kite’s share price to quadruple. The total value of investors’ holdings remains the same.

The company’s stock price has languished in the $6 range over the last 18 months. Kite officials hope that the reverse split will give the stock a image makeover of sorts and lure more big-pocketed institutional investors who typically don't buy single-digit stocks.

The split reduces the number of outstanding shares to 83.2 million.
 

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  1. I am so impressed that the smoking ban FAILED in Kokomo! I might just move to your Awesome city!

  2. way to much breweries being built in indianapolis. its going to be saturated market, if not already. when is enough, enough??

  3. This house is a reminder of Hamilton County history. Its position near the interstate is significant to remember what Hamilton County was before the SUPERBROKERs, Navients, commercial parks, sprawling vinyl villages, and acres of concrete retail showed up. What's truly Wasteful is not reusing a structure that could still be useful. History isn't confined to parks and books.

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  5. I only tried it 2x and didn't think much of it both times. With the new apts plus a couple other of new developments on Guilford, I am surprised it didn't get more business. Plus you have a couple of subdivisions across the street from it. I hope Upland can keep it going. Good beer and food plus a neat environment and outdoor seating.

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