Kimco RealtyNYSE: KIM

JERICHO, N.Y., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Kimco Realty® (NYSE: KIM), a real estate investment trust (REIT) known for owning and managing high-quality, open-air shopping centers anchored by grocery stores in the U.S., has announced that it has won Nareit's 2024 Leader in the Light Award for Retail for the third year in a row. This achievement highlights the company's commitment to sustainability, bringing their total wins of this award to five.

Kimco Realty's funds from operations for the third quarter exceeded expectations, hitting $0.43 per share, and I expect a $0.01 increase in dividends next quarter, raising the yield to 4.1%. The company's varied portfolio, which mainly includes grocery-anchored shopping centers in large cities, helps maintain consistent foot traffic and rental income growth. With a portfolio occupancy rate of 96.4% and little new supply available, KIM is in a strong position for ongoing rental income growth.

Is Kimco Realty (KIM) a strong choice for momentum investors? Let's take a closer look.

KIM's results for the third quarter show revenues that are higher than expected. However, an increase in interest expenses is a negative factor.

Kimco Realty® (NYSE: KIM), a real estate investment trust known for its high-quality shopping centers and mixed-use properties in the U.S., announced its third-quarter results for the period ending September 30, 2024. The company reported that portfolio occupancy has reached an all-time high and the board has increased the quarterly cash dividend on common shares by 4.2%. Additionally, Kimco has raised its outlook for 2024.

Assess the anticipated performance of Kimco Realty (KIM) for the quarter that ended in September 2024. Instead of just focusing on the usual Wall Street revenue and profit predictions, let's take a closer look at some important metrics for a deeper understanding.

A strong retail real estate market and an emphasis on creating mixed-use properties are expected to support KIM's earnings in the third quarter. However, high interest costs might have negatively impacted those earnings.

Lower interest rates might benefit REITs, making them a good investment option. These real estate investment trusts could offer attractive opportunities.

Kimco Realty (KIM) has received a Zacks Rank #2 (Buy) upgrade, indicating increased confidence in the company's potential earnings. This could lead to a rise in the stock price in the short term.