Welcome to our dedicated page for Kimco Realty news (Ticker: KIM), a resource for investors and traders seeking the latest updates and insights on Kimco Realty stock.
Kimco Realty Corp. (symbol: KIM) is one of the oldest real estate investment trusts (REITs) in the United States, specializing in the ownership and management of shopping centers. With interests in 523 shopping centers across major markets in the U.S., Kimco controls roughly 77 million square feet of leasable space. The company's portfolio is strategically located in densely populated areas, ensuring high foot traffic and sustained demand for retail spaces.
Kimco Realty focuses on creating value through strategic property acquisitions, proactive leasing efforts, and continuous asset management. The REIT is committed to sustainability, integrating eco-friendly practices across its operations. Recent achievements include significant leasing milestones and renovations that enhance the shopping experience for customers and increase the attractiveness of its properties for tenants.
Financially, Kimco Realty maintains a robust balance sheet, demonstrating resilience and adaptability, even amidst economic fluctuations. The company's strategic partnerships and joint ventures further amplify its market presence and operational efficiency. Kimco's diverse tenant base from various retail sectors, including groceries, fashion, and essential services, provides a stable revenue stream, reducing the risks associated with market volatility.
In addition to its primary business of shopping centers, Kimco Realty is investing in mixed-use development projects that incorporate residential, office, and retail spaces. These projects aim to create vibrant, community-centric environments that cater to the evolving preferences of modern consumers and businesses.
Kimco Realty (NYSE: KIM) announced significant changes to its Board of Directors. Milton Cooper, the company's founder and Executive Chairman, will retire at the 2025 Annual Meeting of Stockholders after more than 60 years of leadership, transitioning to Chairman Emeritus. Richard Saltzman, who has served as a director since 2003, will become Independent Chairman of the Board.
The company also appointed Nancy Lashine and Ross Cooper to the Board of Directors effective January 21, 2025. Lashine will serve on the Audit and Executive Compensation Committees. Additionally, Mary Hogan Preusse will conclude her service as Lead Independent Director while remaining a Board member.
Kimco Realty, founded in 1960 and publicly traded since 1991, currently owns interests in 568 U.S. shopping centers and mixed-use assets, comprising 101 million square feet of gross leasable space.
Kimco Realty (NYSE: KIM) has acquired The Markets at Town Center, a 254,000-square-foot premier asset in Jacksonville, Florida, for $108 million. This marks the company's first acquisition through its Structured Investment Program, where Kimco previously provided $15 million in mezzanine financing.
The property is 97% occupied and is anchored by Sprouts Farmers Market and shadow anchored by Costco Wholesale. Located in North Florida's most sought-after shopping district, it serves an affluent customer base with an estimated population of 192,000 and an average household income of $95,000 within a five-mile radius, generating over four million annual visits.
Built in 2008, the center presents mark-to-market opportunities due to below-market leases. This acquisition expands Kimco's Jacksonville presence to 6 properties totaling approximately 1.5 million square feet with a 98.6% occupancy rate as of December 31, 2024.
Kimco Realty (NYSE: KIM) has announced the 2024 tax treatment details for RPT Realty Series D Cumulative Convertible Preferred investor's dividend distributions. The dividend distribution per share of $0.765280, payable on January 2, 2024, is classified as 100% Return of Capital, with no portions allocated to Ordinary Income or Capital Gains.
As of September 30, 2024, Kimco owns interests in 567 U.S. shopping centers and mixed-use assets, comprising 101 million square feet of gross leasable space. The company specializes in high-quality, grocery-anchored shopping centers and mixed-use properties, with a strategic focus on first-ring suburbs of major metropolitan markets, including coastal markets and Sun Belt cities.
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.
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