Kimco Realty Cp Stock Price, News & Analysis

Kimco Realty (NYSE: KIM) has scheduled its fourth quarter 2024 earnings announcement for February 7, 2025, before market open, followed by a conference call at 8:30 AM ET. The company, a leading REIT specializing in grocery-anchored shopping centers, currently owns interests in 567 U.S. shopping centers and mixed-use assets, comprising 101 million square feet of gross leasable space as of September 30, 2024.

The earnings call will be accessible via webcast and dial-in options, with audio replay available until May 7, 2025. The company focuses on properties in first-ring suburbs of major metropolitan markets, particularly in coastal markets and Sun Belt cities, with an emphasis on essential, necessity-based retail tenants.

Kimco Realty (NYSE: KIM) has announced the final results of its cash tender offer for its outstanding depositary shares representing 1/1,000 of a share of 7.25% Class N Cumulative Convertible Perpetual Preferred Stock. The company accepted for purchase 409,772 Securities at $62.00 per Security plus accrued dividends, representing approximately 22.17% of outstanding Securities as of December 12, 2024.

The concurrent consent solicitation failed to obtain the required two-thirds majority needed to amend the company's charter. The tender offer payment will be issued on December 16, 2024. Kimco Realty, a REIT specializing in grocery-anchored shopping centers, currently owns interests in 567 U.S. shopping centers and mixed-use assets comprising 100.5 million square feet of gross leasable space.

Kimco Realty (NYSE: KIM) announced changes to its cash tender offer for its outstanding depositary shares of 7.25% Class N Cumulative Convertible Perpetual Preferred Stock. The company has waived the condition requiring a minimum two-thirds of outstanding Securities to be tendered and extended the offer's expiration date from December 4 to December 12, 2024. The purchase price remains at $62.00 per Security, plus accrued and unpaid dividends.

To date, 521,991 Securities have been tendered. J.P. Morgan Securities is acting as dealer manager and consent solicitation agent. Kimco Realty owns interests in 567 U.S. shopping centers and mixed-use assets, comprising 100.5 million square feet of gross leasable space as of September 30, 2024.

Kimco Realty (NYSE: KIM) has received Nareit's 2024 Leader in the Light Award for Retail for the third consecutive year, marking its fifth overall recognition for sustainability initiatives. The company has demonstrated significant progress in corporate responsibility, including fully allocating its $500 million Green Bond in 2024 and certifying 19 properties through the IREM® Certified Sustainable Properties Volume Program in 2023. Kimco launched six Employee Resource Groups, initiated an employee volunteerism drive, and was named one of the 2024 Best Places to Work in Real Estate. The company currently owns interests in 567 U.S. shopping centers and mixed-use assets, comprising 101 million square feet of gross leasable space.

Kimco Realty (NYSE: KIM) has launched a cash tender offer to purchase all outstanding depositary shares of its 7.25% Class N Cumulative Convertible Perpetual Preferred Stock at $62.00 per share, plus accrued dividends. Simultaneously, the company is conducting a consent solicitation to amend terms allowing redemption at $60.34 per share for 90 days after effectiveness. The offer requires approval from two-thirds of preferred shareholders and a majority of common stockholders. The tender offer expires on December 4, 2024. J.P. Morgan Securities is serving as dealer manager for the offer.

Kimco Realty reported strong Q3 2024 results with net income of $0.19 per diluted share, up from $0.18 in Q3 2023. The company achieved record-high portfolio occupancy of 96.4% and small shop occupancy of 91.8%. FFO grew 7.5% to $0.43 per diluted share, while Same Property NOI increased 3.3%. The board increased the quarterly dividend by 4.2% to $0.25 per share. Notable achievements include generating 41.9% cash rent spreads on new leases and acquiring Waterford Lakes Town Center in Orlando for $322 million. The company raised its 2024 FFO guidance to $1.64-$1.65 per share.

Kimco Realty® (NYSE: KIM) has acquired Waterford Lakes Town Center, a 976,000-square-foot retail asset in Orlando, Florida, for $322 million. The property is 99% occupied and located in Orlando's upscale West University submarket. Key features include:

- 13.6 million annual visits
- Strong demographics: 228,000+ population within 5 miles, $111,000 average household income
- High-quality tenant mix including Super Target, TJ Maxx, Ross Dress for Less, and recent additions like Lululemon and Nike
- Significant mark-to-market opportunities from below-market leases

This acquisition expands Kimco's Orlando portfolio to 18 centers with over 4 million square feet. The company has updated its 2024 guidance, now expecting to be a net acquirer with total acquisitions surpassing $560 million for the year.

Kimco Realty (NYSE: KIM) has announced the pricing of a $500 million public offering of 4.850% notes due 2035 through its subsidiary, Kimco Realty OP, The notes, maturing on March 1, 2035, have an effective yield of 4.873% and will be fully guaranteed by Kimco Realty. The offering is expected to settle on September 16, 2024.

The company plans to use the net proceeds for general corporate purposes, including funding investments, redevelopment opportunities, and repaying outstanding debt. Several major financial institutions served as joint book-running managers and co-managers for the offering. Kimco Realty, a leading REIT specializing in open-air, grocery-anchored shopping centers, currently owns interests in 567 U.S. shopping centers and mixed-use assets, totaling 101 million square feet of gross leasable space.

S&P Global Ratings has revised Kimco Realty's (NYSE: KIM) rating outlook to 'Positive' from 'Stable', while affirming its 'BBB+' Issuer Credit Rating. This upgrade reflects expectations of solid operating performance over the next two years, driven by favorable retail fundamentals, high leased occupancy, positive leasing spreads, and potential upside from recently acquired RPT properties.

Kimco Realty, a leading REIT specializing in open-air, grocery-anchored shopping centers, owns interests in 567 U.S. shopping centers and mixed-use assets, comprising 101 million square feet of gross leasable space. The company's portfolio is strategically concentrated in first-ring suburbs of major metropolitan markets, including high-barrier-to-entry coastal markets and expanding Sun Belt cities.