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Kite reports earnings this afternoon

November 5, 2008

Locally based Kite Realty Group Trust will report its third quarter earnings after the stock market closes this afternoon.

The developer has seen its shares flounder as investors predict a slow holiday shopping season will hurt retail real estate firms. Shares dropped as low as $4.21 in recent weeks but fetched more than $6 this morning.

Kite officials say the company's move in October to sell nearly 5 million new shares and raise about $48 million puts it on firm financial footing.

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