Kimco Realty Cp Stock Price, News & Analysis

Kimco Realty (NYSE: KIM) has acquired a portfolio of eight Long Island shopping centers for $375.8 million. The deal, funded by cash and mortgage debt, enhances Kimco's presence in a high-demand market. This property, with a 94.4% lease rate and an average household income of $187,000, is strategically located near the company's headquarters. The acquisition aligns with Kimco's goal of increasing grocery-anchored rental income and adds 540,000 square feet to their portfolio, now totaling over 3.5 million square feet in Long Island.

Kimco Realty reported its third-quarter results for 2022, revealing a significant 28.1% increase in funds from operations (FFO) to $0.41 per diluted share despite a drop in net income to $51.6 million or $0.08 per diluted share due to a $532.6 million mark-to-market reduction in securities, including Albertsons stock. Portfolio occupancy improved to 95.3%, and the company declared a cash dividend of $0.23, marking a 4.5% increase. Kimco revised its full-year guidance, raising net income and FFO outlooks. The company also executed significant transactions, enhancing its liquidity position.

Kimco Realty recently announced a strategic move by partially selling its stake in Albertsons following the Kroger-Albertsons merger announcement. The transaction implied a 37% valuation increase for Kimco's holdings in Albertsons, valued at $34.10 per share. Kimco realized net proceeds of approximately $301.1 million from the sale of 11.5 million shares, retaining 28.3 million shares. To comply with REIT regulations, the company plans to issue a special dividend potentially in cash and/or stock by year-end.

Kimco Realty (NYSE: KIM) will present at the BofA Securities 2022 Global Real Estate Conference on September 14, 2022, from 2:55 PM to 3:30 PM ET. The presentation will be available via a live webcast, with a replay accessible for 24 hours post-event until December 13, 2022. Kimco Realty is a leading real estate investment trust focused on grocery-anchored shopping centers across North America. As of June 30, 2022, it owned interests in 533 shopping centers and mixed-use assets totaling 92 million square feet of gross leasable space.

Kimco Realty (NYSE: KIM) will announce its Q3 2022 earnings on October 27, 2022, before market open. A live earnings conference call is scheduled for 8:30 AM ET on the same day, accessible via webcast. Kimco Realty, headquartered in Jericho, N.Y., is a leading real estate investment trust focused on open-air, grocery-anchored shopping centers.

As of June 30, 2022, the company owned interests in 533 shopping centers, totaling 92 million square feet of gross leasable space.

Kimco Realty (NYSE: KIM) recently published its second Green Bond Report, revealing that it allocated over $356 million in net proceeds from its inaugural green bond issuance to Eligible Green Projects. This investment represents over 72% of the $493.7 million total from the bond. The initiatives include funding LEED-certified buildings and energy efficiency projects, with an estimated GHG savings of 7200 MTCO2e.

CEO Conor Flynn highlighted that these efforts aim to enhance sustainability and create long-term value for stakeholders.

Kimco Realty (NYSE: KIM) has priced a public offering of $650 million in 4.600% notes due February 1, 2033, with an effective yield of 4.670%. The offering is set to settle on August 24, 2022. Funds from this offering will be used to redeem 3.50% and 3.125% notes maturing in 2023, with any excess allocated for general corporate purposes, including potential investments and redevelopment initiatives.

Kimco Realty (NYSE: KIM) announced it will redeem $299.67 million of its 3.50% Notes due 2023 and $313.925 million of its 3.125% Senior Notes 2023 on September 9, 2022. The redemption will incur a prepayment charge of approximately $0.4 million, affecting net income and funds from operations in Q3 2022. Notices will be sent to current noteholders on August 10, 2022. Kimco, a leading REIT, owns interests in 533 shopping centers, totaling 92 million square feet as of June 30, 2022, focusing on essential retail in prime markets.