Kimco Realty Corporation
KIM
ISIN US49446R1095 / Valor 945039
Kimco Realty Corporation
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About company
Kimco Realty Corporation is a leading real estate investment trust (REIT) in North America, focusing on grocery-anchored, open-air shopping centers and mixed-use assets in prime locations within major metropolitan areas across the United States. With a history spanning over 60 years, Kimco Realty is dedicated to creating vibrant communities through the ownership, management, acquisition, and redevelopment of shopping centers. As a member of the S&P 500 Index, the company has established itself as a key player in the commercial real estate industry, providing value to both tenants and investors alike.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (17.12.2024):
Net Income Growth
In the third quarter of 2024, Kimco Realty Corporation reported a net income available to common shareholders of $128.0 million, or $0.19 per diluted share. This represents a 5.6% increase from the $112.0 million, or $0.18 per diluted share, reported in the third quarter of 2023. The growth was primarily driven by the acquisition of RPT Realty, which significantly contributed to the increase in consolidated revenues.
Funds From Operations
Kimco Realty Corporation's Funds From Operations (FFO) for the third quarter of 2024 was $287.4 million, or $0.43 per diluted share. This marks a 7.5% increase compared to $248.6 million, or $0.40 per diluted share, in the same period of 2023. The company excludes certain items from FFO, such as marketable securities gains and losses, to provide a clearer picture of its core operating performance.
Occupancy Rates
During the third quarter of 2024, Kimco Realty Corporation achieved a pro-rata portfolio occupancy rate of 96.4%, matching its all-time high. The company also reached a new record for pro-rata small shop occupancy at 91.8%. These occupancy rates reflect the strong demand for Kimco's high-quality, grocery-anchored properties.
Dividend Increase
Kimco Realty Corporation's board of directors declared a cash dividend of $0.25 per common share for the third quarter of 2024, representing a 4.2% increase over the previous year's corresponding period. The dividend is payable on December 19, 2024, to shareholders of record on December 5, 2024, highlighting the company's commitment to returning value to its shareholders.
Raised Financial Outlook
Kimco Realty Corporation has raised its financial outlook for the full year 2024. The company now expects net income per diluted share to be between $0.50 and $0.51, up from the previous range of $0.44 to $0.46. Additionally, the FFO per diluted share is projected to be between $1.64 and $1.65, reflecting the company's confidence in its ongoing growth and operational performance.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
15915 M
Market cap (USD)
628,464
Daily traded volume (Shares)
23.72 / 23.465
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
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Dividend yield (p.a.)
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P/E ratio
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EPS (USD)
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Ratings & reviews
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