Kimco Realty Corporation Market Research Report
Company Overview
Basic Information
- Name: Kimco Realty Corporation
- Mission: To create destinations for everyday living that inspire a sense of community and deliver value to stakeholders.
- Founded: More than 60 years ago (exact year not provided)
- Founders: No information available
- Key People:
- David F. Bujnicki: Senior Vice President, Investor Relations and Strategy
- Jennifer Maisch: Vice President, Marketing & Corporate Communications
- Headquarters: 500 North Broadway, Suite 201, Jericho, NY 11753
- Number of Employees: No information available
- Revenue: No information available
- Specialization: Leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States.
Key Highlights
- Market Presence: Strategically concentrated in first-ring suburbs of top major metropolitan areas, including high-barrier-to-entry coastal markets and rapidly expanding Sun Belt cities.
- Stock Exchange: Publicly traded on the NYSE (Ticker: KIM) since 1991, included in the S&P 500 Index.
- Portfolio: As of June 30, 2024, owns interests in 567 U.S. shopping centers and mixed-use assets, comprising 101 million square feet of gross leasable space.
Products
Products Overview
- Primary Product: Grocery-anchored shopping centers and mixed-use properties.
- Description: High-quality, open-air shopping centers strategically located in metropolitan areas.
- Key Features:
- Anchored by grocery stores, ensuring essential, necessity-based goods and services.
- Designed to drive multiple shopping trips per week.
- Focus on high-barrier-to-entry and rapidly expanding metropolitan markets.
Recent Developments
New Products and Features
- New Products:
- $500 Million Aggregate Principal Amount of 4.850% Notes Due 2035
- Announced and priced on September 12, 2024.
- Effective yield: 4.873%; maturing on March 1, 2035.
- Fully and unconditionally guaranteed by Kimco.
- Offering managed by: BofA Securities, Inc., Mizuho Securities USA LLC, Regions Securities LLC, among others.
Partnerships and Ratings
- Partnerships:
- Involved in strategic partnerships with multiple financial institutions for notes offering.
- Ratings:
- S&P Global Ratings: Upgraded rating outlook to 'Positive' from 'Stable' and affirmed 'BBB+' Issuer Credit Rating as of September 12, 2024.
Corporate Events
- Upcoming Earnings Conference Call:
- Date: October 31, 2024, at 8:30 AM ET.
Major Announcements
- Third Quarter Earnings Conference Call:
- Date: October 31, 2024
- Previously Held Events:
- Presentation at BofA Securities 2024 Global Real Estate Conference:
- Date: September 10, 2024
- Second Quarter 2024 Earnings Conference Call:
- Date: August 1, 2024
Corporate Responsibility
- Sustainability: Kimco’s commitment to environmental, social, and governance (ESG) issues is integrated across all organizational levels, and the company has been recognized as an industry leader in these areas.
Significant Transactions
- Merger with RPT Realty:
- Anticipated benefits: Solid operating performance over the next two years, favorable retail fundamentals, high leased occupancy, and positive leasing spreads.
- Risks: Integration challenges, litigation risks, potential changes in tenant and joint venture relationships.
Conclusion
Kimco Realty Corporation demonstrates a robust presence in the real estate market, specializing in grocery-anchored shopping centers and mixed-use properties across major U.S. metropolitan areas. The company remains committed to corporate responsibility and sustainable growth, as evidenced by its recent financial operations and consistent market performance.
For more information, visit [Kimco Realty Corporation](https://www.kimcorealty.com) or follow the company on its social media channels.
Contact Information:
- Investor Relations Contact: (833) 800-4343, IR@kimcorealty.com
- Corporate Communications Contact: (516) 869-7224, Jennifer Maisch
- Headquarters: 500 North Broadway, Suite 201, Jericho, NY 11753
