In the fourth quarter of 2024, Kimco Realty Corporation announced funds from operations of $0.42 per share, which met expectations, thanks to strong occupancy rates and rent increases. The company also increased its dividend to $0.25 per share, making it an attractive option for dividend growth investors with a low payout ratio of about 60%. Kimco Realty's properties are well-placed in key urban areas, benefiting from high household incomes and population growth, which helps maintain steady and increasing funds from operations.
Kimco Realty provides a reliable dividend and solid business performance, making it a good investment option after its recent decline. The company focuses on grocery-anchored and mixed-use properties in growing areas, which helps it achieve steady growth in rental income and occupancy rates. With its current valuation being lower than usual and promising future growth, KIM could offer returns that outperform the market.
Kimco's stock has seen a modest increase of over 8% in the last year, but it recently dropped by 15% because of high-interest rates and valuation concerns. Their grocery-anchored shopping centers have impressive occupancy rates of 96.3% overall and 98.2% for anchor tenants, thanks to limited supply and strong leasing activity. Although the company has solid fundamentals and a reliable 4.6% dividend yield, growth is anticipated to slow, resulting in a "hold" rating as KIM stock is considered fairly valued.
Kimco Realty Corporation (NYSE:KIM) will hold its Q4 2024 Earnings Conference Call on February 7, 2025, at 8:30 AM ET. The call will feature company executives, including CEO Conor Flynn and CFO Glenn Cohen, along with various analysts from major financial institutions. Participants will be in listen-only mode during the call.
Kimco Realty (KIM) reported quarterly funds from operations (FFO) of $0.42 per share, matching the Zacks Consensus Estimate. This is an increase from the FFO of $0.39 per share from the same period last year.
Kimco Realty® (NYSE: KIM), a real estate investment trust known for its high-quality shopping centers, announced strong growth in net income and funds from operations (FFO) for the fourth quarter of 2024. The company leased over 11 million square feet in 2024 and has provided an initial outlook for 2025. The results cover the full year ending December 31, 2024.
KIM's results for the fourth quarter show revenues that are higher than expected. However, an increase in interest expenses is a negative factor.
A strong retail real estate market and an emphasis on creating mixed-use properties are expected to support KIM's earnings in the fourth quarter. However, high interest costs might have negatively impacted those earnings.
JERICHO, N.Y., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Kimco Realty® (NYSE: KIM), a real estate investment trust (REIT) that specializes in managing high-quality, open-air shopping centers and mixed-use properties in the U.S., has announced the tax treatment for its common and preferred stock dividends for 2024. The details of these allocations will be provided on Form 1099-DIV as follows:
KIM is expected to benefit from its high-quality properties, a varied group of tenants, an emphasis on grocery-anchored shopping centers, mixed-use developments, and a solid financial position.