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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 Corp. (NYSE: KIM) and Weingarten Realty Investors (NYSE: WRI) have announced a definitive merger agreement that will unite their real estate platforms, creating a leading open-air shopping center owner in the U.S. Weingarten shareholders will receive 1.408 shares of Kimco plus $2.89 in cash per share, totaling about $30.32. The combined entity will have a pro forma equity market capitalization of $12 billion and a total enterprise value of approximately $20.5 billion. This merger enhances market presence, tenant diversity, and financial strength, with expected annual synergies of $35-$38 million.
Kimco Realty Corp. (NYSE: KIM) will announce its first quarter 2021 earnings on April 29, 2021, before market open. Investors can listen to the earnings conference call at 8:30 AM ET via a live webcast. As of December 31, 2020, Kimco owned interests in 400 U.S. shopping centers and mixed-use assets, totaling 70 million square feet. The company has been operating for over 60 years and is included in the S&P 500 Index.
Kimco Realty announced that it will present at the Citi 2021 Global Property CEO Conference on March 9, 2021, from 9:00 A.M. to 9:35 A.M. ET. The live presentation will be available via a webcast, and if missed, audio will be accessible until June 11, 2021. Kimco Realty, a leading real estate investment trust (REIT), specializes in grocery-anchored shopping centers and mixed-use assets, owning interests in 400 properties across the U.S., totaling 70 million square feet of space.
Kimco Realty Corp. (NYSE: KIM) has declared a quarterly cash dividend of $0.17 per common share. This dividend is payable on March 24, 2021, to shareholders of record as of March 10, 2021. Kimco, a leading real estate investment trust (REIT), specializes in open-air, grocery-anchored shopping centers and owns interests in 400 centers across the U.S., totaling 70 million square feet of gross leasable space. The company has been publicly traded since 1991 and is included in the S&P 500 Index.
Kimco Realty Corp. (NYSE: KIM) reported strong fourth-quarter results for 2020, achieving a net income of $194.9 million, or $0.45 per diluted share. The company collected 92% of pro-rata base rents in Q4 and 91% in January 2021. Portfolio occupancy stood at 93.9%, with 92 new leases signed for 406,000 square feet, marking an 18% increase year-over-year. Despite a decrease in Net Operating Income of 10.5% due to uncollectible accounts, Kimco ended with $2.3 billion in liquidity and a solid outlook for 2021, forecasting net income per share between $0.46 and $0.52.
Kimco Realty Corp. (NYSE: KIM) announced a quarterly dividend for its 5.125% Class L and 5.25% Class M preferred stock, to be paid on April 15, 2021, to shareholders of record by April 1, 2021. With over 400 shopping centers and mixed-use assets under management, Kimco operates in major metropolitan areas, emphasizing its strength in grocery-anchored venues. As of September 30, 2020, it managed approximately 70 million square feet of leasable space. This dividend declaration highlights the company's commitment to providing income to its investors.
Kimco Realty Corp. (NYSE: KIM) has announced its 2020 dividend allocations for common and preferred stocks. The total dividend per common share is $0.820, consisting of ordinary income and capital gains distributions. For preferred Series L and M, the total dividends are $1.281240 and $1.312500, respectively. Key dates include record dates on 12/31/2019, payable dates from January to October 2020, and a sustainable yield indicated across distributions. Investors can find more information on the company’s website.
Kimco Realty Corp. (NYSE: KIM) has launched its Tenant Assistance Program (TAP) to aid small business tenants in accessing funds from the recently approved $284 billion Paycheck Protection Program (PPP). The program offers two assistance options: an online application through BlueVine, which previously facilitated nearly $4.5 billion in loans, and personalized support from Asset Enhancement Solutions for application materials and eligibility assessment. CEO Conor Flynn emphasized the priority of supporting tenants amid ongoing funding needs.
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