6 views 2 mins 0 comments

Analyst Report: Kimco Realty Corp.

In Business
May 21, 2024

Summary

Kimco is a last-mile real estate investment trust specializing in the acquisition, development, and management of open-air shopping centers. The company’s portfolio consists of 569 U.S. shopping centers and mixed-use assets. Prior to the 1Q24 merger, New York and California accounted for about 28% of all properties. Currently, about 83% of annual base rents came from centers anchored by grocery store tenants. The company has a goal of 85% ABR from grocery anchored assets. Anchors account for about 53% of total pro-rata ABR. Anchor stores also include discount clothing retailers, and T.J Maxx is the company’s top tenant, accounting for less than 4% of GLA. The company recognizes the value of multi-use retail destinations that include smaller tenants, and has maintained relationships with fast-food and coffee retailers. It has shopping centers in 39 states, with a focus on the last-mile suburbs of major metro coastal markets, as well as Sunbelt locations. In August 2021, it purchased Weingarten Realty for approximately $3.9 billion, becoming the largest grocery-anchored shopping REIT by market capitalization. The acquisition also gave the company a presence in Texas. In January, Kimco purchased RPT Realty in an all-stock transaction and disposed of 10 o

Upgrade to begin using premium research reports and get so much more.

Exclusive reports, detailed company profiles, and best-in-class trade insights to take your portfolio to the next level

Upgrade

EMEA Tribune is not involved in this news article, it is taken from our partners and or from the News Agencies. Copyright and Credit go to the News Agencies, email news@emeatribune.com Follow our WhatsApp verified Channel210520-twitter-verified-cs-70cdee.jpg (1500×750)

Support Independent Journalism with a donation (Paypal, BTC, USDT, ETH)
whatsapp channel
Avatar
/ Published posts: 21275

The latest news from the News Agencies