Kimco Realty Corp. reports developments for a U.S. real estate investment trust that owns and operates open-air, grocery-anchored shopping centers and mixed-use properties. Its updates center on leasing volume, rent commencements, occupancy, tenant mix, net income, funds from operations, balance sheet activity, and capital allocation across a portfolio concentrated in first-ring suburbs of major metropolitan markets.
Recurring announcements also cover acquisitions, dispositions, redevelopment and structured investment activity, dividend tax treatment for common and preferred stock, board composition, earnings calls, and investor conference presentations.
Kimco Realty Corp. (NYSE: KIM) will participate in Nareit’s REITweek: 2021 Virtual Investor Conference on June 9, 2021 from 8:45 A.M. – 9:15 A.M. ET. The management will present an overview and a Q&A session. Registration is complimentary and can be accessed via the provided link. If unable to attend, audio will be available until June 30, 2021. Kimco, headquartered in Jericho, N.Y., owns interests in 398 U.S. shopping centers and mixed-use assets totaling 70 million square feet, focusing on essential goods and services.
Kimco Realty Corp. (NYSE: KIM) reported a strong first quarter for 2021, with net income rising to $131.6 million ($0.30 per diluted share), compared to $83.7 million ($0.19 per diluted share) in Q1 2020. Highlights included executing 358 leases totaling 2.8 million square feet, a 93.5% occupancy rate, and collecting 94% of base rents. The company ended the quarter with $2.3 billion in liquidity, including $254 million in cash. A strategic merger with Weingarten Realty Investors was also announced, expected to enhance portfolio strength and growth opportunities.
Kimco Realty Corp. (NYSE: KIM) has announced a definitive merger agreement with Weingarten Realty Investors (NYSE: WRI). This merger aims to create a prominent retail real estate platform with a pro forma equity market capitalization of about $12 billion and total enterprise value of $20.5 billion. Each Weingarten share will convert to 1.408 Kimco shares plus $2.89 in cash, totaling approximately $30.32 per share. The combined entity will manage 559 grocery-anchored centers across the U.S., enhancing scale and growth potential. The transaction is set to close in the second half of 2021, pending shareholder approval.
Kimco Realty Corp. (NYSE: KIM) and Weingarten Realty Investors (NYSE: WRI) have announced a definitive merger agreement that will unite their real estate platforms, creating a leading open-air shopping center owner in the U.S. Weingarten shareholders will receive 1.408 shares of Kimco plus $2.89 in cash per share, totaling about $30.32. The combined entity will have a pro forma equity market capitalization of $12 billion and a total enterprise value of approximately $20.5 billion. This merger enhances market presence, tenant diversity, and financial strength, with expected annual synergies of $35-$38 million.
Kimco Realty Corp. (NYSE: KIM) will announce its first quarter 2021 earnings on April 29, 2021, before market open. Investors can listen to the earnings conference call at 8:30 AM ET via a live webcast. As of December 31, 2020, Kimco owned interests in 400 U.S. shopping centers and mixed-use assets, totaling 70 million square feet. The company has been operating for over 60 years and is included in the S&P 500 Index.
Kimco Realty announced that it will present at the Citi 2021 Global Property CEO Conference on March 9, 2021, from 9:00 A.M. to 9:35 A.M. ET. The live presentation will be available via a webcast, and if missed, audio will be accessible until June 11, 2021. Kimco Realty, a leading real estate investment trust (REIT), specializes in grocery-anchored shopping centers and mixed-use assets, owning interests in 400 properties across the U.S., totaling 70 million square feet of space.
Kimco Realty Corp. (NYSE: KIM) has declared a quarterly cash dividend of $0.17 per common share. This dividend is payable on March 24, 2021, to shareholders of record as of March 10, 2021. Kimco, a leading real estate investment trust (REIT), specializes in open-air, grocery-anchored shopping centers and owns interests in 400 centers across the U.S., totaling 70 million square feet of gross leasable space. The company has been publicly traded since 1991 and is included in the S&P 500 Index.
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Kimco Realty Corp. (NYSE: KIM) reported strong fourth-quarter results for 2020, achieving a net income of $194.9 million, or $0.45 per diluted share. The company collected 92% of pro-rata base rents in Q4 and 91% in January 2021. Portfolio occupancy stood at 93.9%, with 92 new leases signed for 406,000 square feet, marking an 18% increase year-over-year. Despite a decrease in Net Operating Income of 10.5% due to uncollectible accounts, Kimco ended with $2.3 billion in liquidity and a solid outlook for 2021, forecasting net income per share between $0.46 and $0.52.
Summary not available.