Kimco Realty Corp. - KIM STOCK NEWS

Kimco Realty Corp. (NYSE: KIM) reported strong Q3 2021 results, achieving a net income of $501.4 million ($0.91 per diluted share), a significant turnaround from a net loss of $44.7 million in Q3 2020. The company completed its merger with Weingarten Realty on August 3, 2021, which bolstered its grocery-anchored portfolio. FFO was $173.7 million ($0.32 per diluted share), including merger-related charges of $47 million. Kimco raised its 2021 guidance for net income to $1.70-$1.72 and NAREIT FFO to $1.36-$1.37.

Kimco Realty Corp. (NYSE: KIM) has acquired a 70% interest in a portfolio of six Publix-anchored shopping centers for $425.8 million. This acquisition, from Jamestown, enhances Kimco's stake in a portfolio that includes properties in South Florida and Atlanta, totaling over 1.2 million square feet. Kimco has partnered with Blackstone Real Estate Income Trust, owning 50% of the new joint venture. The CEO highlighted the strategy's efficiency following Kimco's recent merger with Weingarten Realty, allowing for quick capitalizing on high-quality assets.

Kimco Realty Corp. (NYSE: KIM) announced a quarterly cash dividend of $0.17 per share, payable on December 23, 2021, to shareholders of record on December 9, 2021. Additionally, dividends for the company's 5.125% Class L and 5.25% Class M preferred stock will be paid on January 17, 2022, to shareholders of record by January 3, 2022. Kimco is recognized as North America’s leading owner of open-air, grocery-anchored shopping centers, with a portfolio of 545 assets totaling 94 million square feet as of September 30, 2021.

Kimco Realty Corp. (NYSE: KIM) will present its management at the Bank of America Securities 2021 Global Real Estate Conference on September 21, 2021, from 12:00 P.M. to 12:35 P.M. ET. Investors can access the live webcast here. If missed, the audio will be available until December 22, 2021. Kimco, a leading REIT, owns and operates grocery-anchored shopping centers across major U.S. markets.

Kimco Realty Corp. (NYSE: KIM) has priced a public offering of $500 million aggregate principal amount of 2.250% notes due December 1, 2031, with an effective yield of 2.301%. The offering is expected to settle on September 22, 2021, pending customary closing conditions. Net proceeds will be utilized for general corporate purposes, including repaying borrowings and funding acquisition opportunities. A consortium led by BofA Securities is managing the offering, which is conducted under an effective shelf registration statement.

Kimco Realty Corp. (NYSE: KIM) will release its third-quarter 2021 earnings on November 5, 2021, prior to market open. A live webcast of the earnings conference call is scheduled for 8:30 AM ET on the same day. As the largest publicly traded owner of grocery-anchored shopping centers in North America, Kimco focuses on necessity-based goods and services, with a portfolio of 398 U.S. shopping centers and a gross leasable area of 70 million square feet. The company's commitment to ESG leadership is also highlighted.

Kimco Realty Corp. (NYSE: KIM) has launched an 'at the market' continuous offering program, allowing the sale of up to $500,000,000 in common stock. The sales will be conducted through various financial institutions acting as sales agents. Kimco may also enter into forward sale agreements, allowing for additional stock sales without initial proceeds for the company. Proceeds are intended for general corporate purposes, including acquisitions, development costs, redeeming preferred stock, and reducing debt. The company has filed a registration statement with the SEC for this offering.

Kimco Realty Corp. (NYSE: KIM) has declared a quarterly cash dividend of $0.17 per common share, scheduled for September 23, 2021. This dividend is payable to shareholders of record as of September 9, 2021. The company is recognized as North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers and mixed-use assets, owning interests in 398 shopping centers totaling 70 million square feet of gross leasable space.

Kimco Realty Corp. (NYSE: KIM) has successfully completed its merger with Weingarten Realty Investors (NYSE: WRI), creating a leading owner of open-air, grocery-anchored shopping centers. This merger enhances Kimco's portfolio, allowing for significant economies of scale and expanded growth opportunities in prime markets. However, the merger will incur costs between $50 million to $60 million, affecting net income and funds from operations. Weingarten shareholders will receive 1.408 shares of Kimco stock plus $2.20 in cash for each share owned. Kimco aims to leverage redevelopment opportunities and drive long-term shareholder value.