Welcome to our dedicated page for Kimco Realty Cp news (Ticker: KIM), a resource for investors and traders seeking the latest updates and insights on Kimco Realty Cp stock.
Overview of Kimco Realty Corporation (KIM)
Kimco Realty Corporation (NYSE: KIM) is a leading real estate investment trust (REIT) specializing in the ownership, management, and development of open-air, grocery-anchored shopping centers and mixed-use properties across the United States. With a portfolio comprising interests in 569 properties, representing approximately 87 million square feet of leasable space, Kimco is a prominent player in the retail real estate sector. Its properties are strategically located in major metropolitan markets, ensuring access to high-density consumer bases and strong tenant demand.
Core Business Model and Revenue Streams
Kimco generates revenue primarily through leasing its properties to a diverse mix of tenants, including grocery stores, national and regional retail chains, service providers, and restaurants. Grocery-anchored shopping centers form the backbone of its portfolio, offering stability and resilience due to the essential nature of grocery retail. These centers attract consistent foot traffic and serve as community hubs, making them less susceptible to the challenges posed by e-commerce. In addition to rental income, Kimco may earn revenue from property management fees, structured investments, and strategic property sales.
Market Position and Competitive Landscape
Operating in the competitive retail real estate sector, Kimco distinguishes itself through its focus on high-quality, necessity-based retail properties. Its emphasis on grocery-anchored centers provides a competitive advantage, as these properties are considered more recession-resistant compared to other retail formats. Kimco's scale and geographic diversification further enhance its market position, enabling it to attract a wide range of tenants and mitigate regional economic risks. Key competitors include other retail-focused REITs such as Regency Centers and Federal Realty Investment Trust. However, Kimco's growing portfolio of mixed-use developments sets it apart by catering to the increasing demand for live-work-play environments.
Mixed-Use Developments and Strategic Initiatives
In addition to its grocery-anchored properties, Kimco has been expanding its presence in mixed-use developments, which integrate residential, retail, and office spaces. These projects align with evolving consumer preferences for convenience and walkability, making them highly attractive to tenants and residents alike. By leveraging its expertise in property development and management, Kimco aims to create vibrant communities that enhance the value of its assets and provide long-term growth opportunities.
Challenges and Opportunities
While Kimco benefits from the stability of its grocery-anchored portfolio, it faces challenges such as maintaining high occupancy rates, adapting to changing consumer behaviors, and navigating economic uncertainties. The rise of e-commerce has reshaped the retail landscape, but Kimco's focus on necessity-based tenants mitigates this risk. Additionally, its strategic investments in mixed-use properties and urban redevelopment projects position the company to capitalize on emerging trends in real estate and consumer lifestyles.
Conclusion
Kimco Realty Corporation stands out as a major player in the retail real estate industry, with a well-diversified portfolio and a strategic focus on grocery-anchored shopping centers and mixed-use developments. Its commitment to providing high-quality, necessity-driven retail spaces ensures stability and resilience in a dynamic market. By adapting to evolving consumer preferences and leveraging its scale and expertise, Kimco continues to play a vital role in shaping the future of retail real estate.
Kimco Realty (NYSE: KIM), a leading REIT specializing in open-air, grocery-anchored shopping centers, has announced its participation in the Citi 2025 Global Property CEO Conference. The presentation is scheduled for Monday, March 3, 2025, from 7:30 AM to 8:05 AM ET, with a replay available until March 2, 2026.
As of December 31, 2024, Kimco's portfolio includes 568 U.S. shopping centers and mixed-use assets, encompassing 101 million square feet of gross leasable space. The company's strategic focus lies in first-ring suburbs of major metropolitan markets, particularly in high-barrier-to-entry coastal markets and growing Sun Belt cities. Their properties emphasize essential, necessity-based goods and services that generate frequent customer visits.
Listed on the NYSE since 1991 and a component of the S&P 500 Index, Kimco has over 65 years of expertise in shopping center operations, management, acquisitions, and value-enhancing redevelopment.
Kimco Realty (NYSE: KIM) reported strong Q4 and full-year 2024 results, achieving the high end of its full-year outlook. Q4 net income increased to $0.23 per diluted share from $0.22 in Q4 2023, while FFO grew 7.7% to $0.42 per diluted share. The company demonstrated robust operational performance with:
- 4.5% growth in Same Property NOI
- 96.3% pro-rata portfolio occupancy
- 35.4% pro-rata cash rent spreads on new leases
- Over 11 million square feet leased in 2024
Notable acquisitions include Waterford Lakes Town Center in Orlando for $322 million and Markets at Town Center in Jacksonville for $108 million. The company provided its 2025 outlook with projected net income of $0.70-$0.72 per share and FFO of $1.70-$1.72 per share. Kimco declared a quarterly dividend of $0.25 per common share.
Kimco Realty (NYSE: KIM), a leading owner of grocery-anchored shopping centers, has announced its 2024 dividend tax treatment. The company distributed total common stock dividends of $0.97 per share throughout 2024, with quarterly payments of $0.24 for the first three quarters and $0.25 for the fourth quarter.
The tax treatment breakdown shows 66.72% as qualified ordinary income, 0.95% as non-qualified ordinary income, and 32.33% as capital gains. Notably, Kimco recognized approximately $325 million in long-term capital gains in 2024, including gains from selling its remaining Albertsons Companies shares. The company retained these capital gains for corporate purposes and will pay the associated taxes.
As of December 31, 2024, Kimco owned interests in 568 U.S. shopping centers and mixed-use assets, comprising 101 million square feet of gross leasable space.
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.
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