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 a reorganization into an Umbrella Partnership Real Estate Investment Trust (UPREIT) structure, with a new holding company named "New Kimco". This transition aims to enhance the company's competitive edge in acquiring real estate through tax-deferred opportunities. The Reorganization is expected to be effective January 1, 2023, and will not materially impact shareholders, financial positions, or debt securities. All existing shares will convert automatically to the new structure, thus retaining dividend payments. The Merger is anticipated to qualify as a tax-free reorganization under federal tax laws.
Kimco Realty (NYSE: KIM) will announce its fourth quarter 2022 earnings on February 9, 2023, before market open. A conference call will be held at 8:30 AM ET on the same day, accessible via a live webcast. Kimco Realty is North America's largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, focusing on necessity-based goods. As of September 30, 2022, it owned interests in 526 shopping centers and mixed-use assets comprising 91 million square feet of gross leasable space.
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.
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.
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
Kimco Realty (NYSE: KIM) will present at the BofA Securities 2022 Global Real Estate Conference on September 14, 2022, from 2:55 PM to 3:30 PM ET. The presentation will be available via a live webcast, with a replay accessible for 24 hours post-event until December 13, 2022. Kimco Realty is a leading real estate investment trust focused on grocery-anchored shopping centers across North America. As of June 30, 2022, it owned interests in 533 shopping centers and mixed-use assets totaling 92 million square feet of gross leasable space.
Kimco Realty (NYSE: KIM) will announce its Q3 2022 earnings on October 27, 2022, before market open. A live earnings conference call is scheduled for 8:30 AM ET on the same day, accessible via webcast. Kimco Realty, headquartered in Jericho, N.Y., is a leading real estate investment trust focused on open-air, grocery-anchored shopping centers.
As of June 30, 2022, the company owned interests in 533 shopping centers, totaling 92 million square feet of gross leasable space.
Kimco Realty (NYSE: KIM) recently published its second Green Bond Report, revealing that it allocated over
CEO Conor Flynn highlighted that these efforts aim to enhance sustainability and create long-term value for stakeholders.
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