Kimco Realty Cp Stock Price, News & Analysis

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.

Kimco Realty® (NYSE: KIM), a leading REIT specializing in open-air, grocery-anchored shopping centers, has announced its third quarter 2024 earnings call scheduled for October 31, 2024, at 8:30 AM ET. The company will release its earnings report before market open on the same day. Investors can access the live webcast through Kimco's website or dial in using the provided numbers. As of June 30, 2024, Kimco owned interests in 567 U.S. shopping centers and mixed-use assets, totaling 101 million square feet of gross leasable space. The company, part of the S&P 500 Index, focuses on first-ring suburbs of major metropolitan markets, including coastal and Sun Belt cities.

Kimco Realty® (NYSE: KIM), a leading REIT specializing in open-air, grocery-anchored shopping centers, has achieved an 'A-' credit rating with a stable outlook from Fitch Ratings. This accomplishment places Kimco among just 12 publicly-listed U.S. REITs with an 'A-' equivalent or better credit rating. Fitch highlighted Kimco's long-term stewardship, capable management, and strong board oversight as key factors in their decision.

The rating reflects Kimco's large, geographically diversified portfolio in desirable markets, superior capital access, and stable leverage levels. Glenn Cohen, Kimco's CFO, expressed pride in this achievement, noting it as an aspirational goal that showcases the company's disciplined approach and strategic vision execution.

Kimco Realty® (NYSE: KIM), a leading real estate investment trust specializing in open-air, grocery-anchored shopping centers, has announced its participation in the BofA Securities 2024 Global Real Estate Conference. The company's management will present on Tuesday, September 10, 2024, from 11:05 AM to 11:40 AM ET. A live webcast of the presentation will be available, with a replay accessible until September 12, 2025.

Kimco Realty® owns interests in 567 U.S. shopping centers and mixed-use assets, comprising 101 million square feet of gross leasable space as of June 30, 2024. The company's portfolio is strategically concentrated in first-ring suburbs of major metropolitan markets, including coastal and Sun Belt cities. Kimco has been publicly traded on the NYSE since 1991 and is included in the S&P 500 Index.