Kimco Realty Corp. - KIM STOCK NEWS

S&P Global Ratings has revised Kimco Realty's (NYSE: KIM) rating outlook to 'Positive' from 'Stable', while affirming its 'BBB+' Issuer Credit Rating. This upgrade reflects expectations of solid operating performance over the next two years, driven by favorable retail fundamentals, high leased occupancy, positive leasing spreads, and potential upside from recently acquired RPT properties.

Kimco Realty, a leading REIT specializing in open-air, grocery-anchored shopping centers, owns interests in 567 U.S. shopping centers and mixed-use assets, comprising 101 million square feet of gross leasable space. The company's portfolio is strategically concentrated in first-ring suburbs of major metropolitan markets, including high-barrier-to-entry coastal markets and expanding Sun Belt cities.

Kimco Realty® (NYSE: KIM), a leading REIT specializing in open-air, grocery-anchored shopping centers, has announced its third quarter 2024 earnings call scheduled for October 31, 2024, at 8:30 AM ET. The company will release its earnings report before market open on the same day. Investors can access the live webcast through Kimco's website or dial in using the provided numbers. As of June 30, 2024, Kimco owned interests in 567 U.S. shopping centers and mixed-use assets, totaling 101 million square feet of gross leasable space. The company, part of the S&P 500 Index, focuses on first-ring suburbs of major metropolitan markets, including coastal and Sun Belt cities.

Kimco Realty® (NYSE: KIM), a leading REIT specializing in open-air, grocery-anchored shopping centers, has achieved an 'A-' credit rating with a stable outlook from Fitch Ratings. This accomplishment places Kimco among just 12 publicly-listed U.S. REITs with an 'A-' equivalent or better credit rating. Fitch highlighted Kimco's long-term stewardship, capable management, and strong board oversight as key factors in their decision.

The rating reflects Kimco's large, geographically diversified portfolio in desirable markets, superior capital access, and stable leverage levels. Glenn Cohen, Kimco's CFO, expressed pride in this achievement, noting it as an aspirational goal that showcases the company's disciplined approach and strategic vision execution.

Kimco Realty® (NYSE: KIM), a leading real estate investment trust specializing in open-air, grocery-anchored shopping centers, has announced its participation in the BofA Securities 2024 Global Real Estate Conference. The company's management will present on Tuesday, September 10, 2024, from 11:05 AM to 11:40 AM ET. A live webcast of the presentation will be available, with a replay accessible until September 12, 2025.

Kimco Realty® owns interests in 567 U.S. shopping centers and mixed-use assets, comprising 101 million square feet of gross leasable space as of June 30, 2024. The company's portfolio is strategically concentrated in first-ring suburbs of major metropolitan markets, including coastal and Sun Belt cities. Kimco has been publicly traded on the NYSE since 1991 and is included in the S&P 500 Index.

Kimco Realty® (NYSE: KIM), a leading REIT specializing in open-air, grocery-anchored shopping centers, has upsized its unsecured term loan to $550 million from the previous $500 million. The amendment added one bank while maintaining existing terms and credit covenants. Kimco also entered into an interest rate swap agreement, fixing the rate on the incremental term loan at 4.3175%.

Proceeds will be used for general corporate purposes, including managing debt maturities and opportunistic investments. The company's portfolio includes 567 U.S. shopping centers and mixed-use assets, totaling 101 million square feet of gross leasable space as of June 30, 2024. Kimco's strategy focuses on first-ring suburbs of major metropolitan markets, particularly high-barrier-to-entry coastal markets and expanding Sun Belt cities.

Kimco Realty® (NYSE: KIM), a leading REIT, has announced the full allocation of its $500 million green bond issued in July 2020. The $493.7 million in net proceeds were used to finance Eligible Green Projects, including:

1. Renewable Energy: A 988.8 kW solar project in New York, producing 1.2 GWh annually and saving 678 MTCO2e.

2. Green Buildings: LEED Silver certified projects and 19 ENERGY STAR Certified tenant spaces.

3. Energy Efficiency: Projects at 129 properties, saving an estimated 7,500 MTCO2e.

4. Sustainable Water Management: Projects at 46 properties, with an average 35% water efficiency gain.

This achievement demonstrates Kimco's commitment to sustainable growth and prudent financial management, enhancing asset value and delivering long-term benefits to investors and communities.

Kimco Realty (NYSE: KIM), a leading REIT, announced its Q2 2024 results, showcasing robust growth in net income and FFO. Net income per diluted share rose to $0.17, a 6.3% YoY increase. FFO grew 5.1% to $0.41 per diluted share. Key metrics include a 3.0% rise in Same Property NOI and a record high of 91.7% in small shop occupancy. The company signed 482 leases totaling 2.3 million sq ft, with a 26.3% increase in new lease cash rent spreads. Kimco invested $168 million in structured investment programs and raised its 2024 outlook for net income and FFO per diluted share. The REIT ended the quarter with $1.8 billion available on its unsecured revolving credit facility and over $125 million in cash.

Kimco Realty® (NYSE: KIM), a leading REIT specializing in open-air, grocery-anchored shopping centers, has upsized its unsecured term loan to $500 million from the previous $200 million. The amendment includes four additional banks, with unchanged terms from the January 2, 2024 agreement. Kimco has entered into interest rate swap agreements, fixing the rate on the incremental term loans to a blended rate of 4.78%. The proceeds will be used for general corporate purposes, including reducing outstanding borrowings under the company's unsecured revolving credit facility. This move strengthens Kimco's balance sheet and liquidity position, enabling continued opportunistic investments and long-term value creation for stakeholders.

On June 27, 2024, Kimco Realty (NYSE: KIM) released its 2023 Corporate Responsibility Report, highlighting significant achievements in environmental, social, and governance (ESG) aspects. Key milestones include progress toward net zero Scope 1 and 2 GHG emissions, a second consecutive Retail Leader in the Light Award from Nareit, and top peer ranking by GRESB. Kimco also launched its IREM® Certified Sustainable Properties Volume Program, achieving 19 certifications, and established new Employee Resource Groups and a volunteerism drive. Kimco's 2023 achievements reflect a commitment to intertwining financial performance with sustainability excellence.