Kimco Realty Cp Stock Price, News & Analysis

Kimco Realty, North America's largest publicly traded owner of open-air, grocery-anchored shopping centers, reported Q1 2023 results, showing a significant increase in net income and strong leasing performance. For the first quarter, net income available to common shareholders was $283.5 million, or $0.46 per diluted share, up from $230.9 million or $0.37 per diluted share a year earlier. Funds From Operations (FFO) were $238.1 million, yielding $0.39 per diluted share. The company leased 4.5 million square feet, an increase in occupancy to 95.8%, and achieved a remarkable 44.0% increase in cash rent spreads for new leases. Kimco received a $194.1 million special dividend from Albertsons and sold shares for $282.3 million total proceeds. The board declared a cash dividend of $0.23 per share, marking a 15% increase over the previous year. The full-year outlook for net income is revised to $0.92-$0.96 per diluted share.

Kimco Realty (NYSE: KIM) is set to announce its first quarter 2023 earnings on April 27, 2023, prior to market opening. A conference call will follow at 8:30 AM ET that day, available via webcast. Kimco Realty, based in Jericho, N.Y., is the largest publicly traded owner and operator of open-air, grocery-anchored shopping centers in North America. The company owned interests in 532 shopping centers and mixed-use assets, totaling 91 million square feet as of December 31, 2022. It is also recognized for leadership in environmental, social, and governance (ESG) issues.

Kimco Realty (NYSE: KIM) announced its management presentation at the Citi 2023 Global Property CEO Conference on March 6, 2023, from 8:35 AM to 9:10 AM ET. The live webcast can be accessed here, and a replay will be available for one year. Kimco Realty, headquartered in Jericho, NY, is a leading real estate investment trust focused on grocery-anchored shopping centers and mixed-use assets, with ownership of 532 properties and 91 million square feet of leasable space as of December 31, 2022. The company emphasizes environmental, social, and governance leadership.

Kimco Realty Corp. (NYSE: KIM) announced the closing of a new $2.0 billion unsecured revolving credit facility, replacing its previous facility of the same amount. The oversubscribed facility, with commitments totaling $3.3 billion, is expandable to $2.75 billion and matures on March 17, 2027, with possible extensions. This new credit facility underscores Kimco’s strong balance sheet, demonstrating robust demand and favorable terms. The interest rates are linked to Kimco’s senior debt ratings and include sustainability-linked adjustments. This financial maneuver aims to enhance shareholder value and support the company's long-term strategic goals.

Kimco Realty (NYSE: KIM) announced strong performance for Q4 and full year 2022, reporting a year-over-year occupancy increase of 130 basis points to 95.7%, with 2.5 million square feet leased in Q4 and 11.6 million for the year. Despite a net loss of $56.1 million in Q4, the company achieved FFO of $0.38 per diluted share. Key financial highlights include a $301.1 million gain from selling ACI shares and a declared quarterly dividend of $0.23, a 21% increase over last year. Looking ahead, Kimco projects 2023 net income between $0.93 and $0.97 per share, with FFO expected between $1.53 and $1.57 per share.