Profile
Sector:
Real EstateIndustry:
RetailCountry:
United StatesIPO:
22 November 1991Website:
http://www.kimcorealty.comNext earnings report:
N/ALast dividends:
05 September 2024Next dividends:
N/APrice
after hours | Fri, 01 Nov 2024 23:28:27 GMTAnalysts recommendations
Institutional Ownership
KIM Latest News
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.
KIM has enhanced its presence in the Orlando market by purchasing Waterford Lakes Town Center for $322 million in Orlando, Florida.
Kimco Realty® has announced the purchase of Waterford Lakes Town Center in Orlando, Florida, for $322 million, which includes taking on a $164 million mortgage. This shopping center covers 976,000 square feet and is situated on 79 acres, boasting a nearly full occupancy rate of about 99%. It offers a diverse range of tenants that provide both lifestyle and entertainment options, as well as essential goods and services.
KIM's emphasis on grocery-anchored centers and mixed-use properties, along with a strong financial position, is expected to support its growth in the long run.
The expected interest rate cuts by the Fed could lead to a movement of $3 trillion from money market funds to longer-term fixed-income investments, such as RMBS, corporate bonds, and REIT preferreds. There are opportunities for significant capital gains in the high yield market, especially with REIT preferreds, because of their large price differences and discounts. Preferreds that have strong fundamentals, big discounts, and high current spreads could see capital appreciation of over 15% and total returns in the double digits.
What type of business is Kimco Realty?
Kimco Realty Corporation is an American real estate investment trust founded in 1966 with headquarters in Jericho, New York. It is structured and operates as a REIT. In the beginning, the company's assets included several shopping centers owned by major shareholders. Expansion and development occurred through the design and construction of new shopping centers. Later, Kimco Realty revised its growth strategy and focused on acquiring existing commercial real estate properties. The company also expanded internationally, including in Canada, Mexico, Chile, Brazil, and Peru, but eventually focused on the US market, primarily on the east and west coasts and in the Sun Belt region (Atlanta, Dallas, Houston, Las Vegas, Los Angeles, Miami, New Orleans, Orlando, and Phoenix), and liquidated all assets abroad.
What sector is Kimco Realty in?
Kimco Realty is in the Real Estate sector
What industry is Kimco Realty in?
Kimco Realty is in the Retail industry
What country is Kimco Realty from?
Kimco Realty is headquartered in United States
When did Kimco Realty go public?
Kimco Realty initial public offering (IPO) was on 22 November 1991
What is Kimco Realty website?
https://www.kimcorealty.com
Is Kimco Realty in the S&P 500?
Yes, Kimco Realty is included in the S&P 500 index
Is Kimco Realty in the NASDAQ 100?
No, Kimco Realty is not included in the NASDAQ 100 index
Is Kimco Realty in the Dow Jones?
No, Kimco Realty is not included in the Dow Jones index
When was Kimco Realty the previous earnings report?
No data
When does Kimco Realty earnings report?
Next earnings report date is not announced yet