Albertsons Companies, Inc. - ACI STOCK NEWS

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.

Albertsons Companies (NYSE: ACI) has received a favorable ruling from the U.S. District Court, denying a temporary restraining order against its $6.85 per share Special Dividend scheduled for November 7, 2022. The company aims to contest a previous order from Washington State that claims the Special Dividend would hinder its competitive stance amid an antitrust review of its merger with Kroger. Post-dividend, Albertsons expects to maintain $3.0 billion in liquidity and strong revenue generation. The company remains committed to strategic growth and investments.

Albertsons Companies (NYSE: ACI) has been issued a temporary restraining order (TRO) by the Washington State Attorney General, preventing the payment of a $6.85 per share Special Dividend scheduled for November 7, 2022. The TRO is effective until a hearing on November 10, 2022, where the merits will be considered.

Albertsons argues the lawsuit lacks merit and maintains strong financials, reporting over $75 billion in revenue for the past four quarters. The company is committed to its capital-return strategy and intends to contest the TRO vigorously.

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.

Albertsons Companies (NYSE: ACI) is enhancing pet care accessibility by offering affordable pharmacy services, including prescriptions and over-the-counter medications for pets across its 1,700+ pharmacies. Due to rising pet ownership costs, the company introduces the Pet Health Savings Card, providing nearly 80% savings on medications. Furthermore, the Penny Paws initiative is being piloted in Texas and California to provide cost-effective veterinary services. Additional telehealth services with Fuzzy will offer 24/7 veterinary consultations, benefiting pet owners.

Albertsons Companies (ACI) reported a robust second quarter of fiscal 2022, with net income of $343 million ($0.59 per share) and adjusted net income at $418 million ($0.72 per share). The company achieved a 7.4% increase in identical sales and a 36% surge in digital sales.

Despite these gains, the gross margin rate decreased to 27.9% from 28.6% due to rising product costs. Albertsons announced a merger agreement with Kroger, with a total consideration of $34.10 per share, including a special cash dividend of up to $4 billion.

Albertsons Companies, Inc. (NYSE: ACI) has declared a cash dividend of $0.12 per share for the third quarter of 2022. This dividend is payable on November 14, 2022 to shareholders on record as of October 31, 2022. The company currently operates 2,272 retail stores, including 1,722 pharmacies, across 34 states and the District of Columbia, reinforcing its position in the food and drug retail sector.

Albertsons Companies, Inc. (NYSE: ACI) will release its Q2 fiscal 2022 financial results on October 18, 2022, prior to market opening. The fiscal quarter ended on September 10, 2022. Due to its merger agreement with Kroger, Albertsons will not hold a conference call or provide financial guidance alongside these results. Albertsons operates 2,273 retail stores and supports local communities through initiatives like the Nourishing Neighbors Program, contributing nearly $200 million in food and financial assistance in 2021.

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.