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Kimco Realty(KIM) - 2025 Q1 - Earnings Call Presentation
2025-05-01 11:18
Safe Harbor and Non-GAAP Disclosures Forward-Looking Statement and Risk Factors Investor Presentation First Quarter 25 The Markets at Town Center Jacksonville, Florida This communication contains , contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company intends such forward-looking statements to be covered by the safe har ...
Kimco Realty(KIM) - 2025 Q1 - Quarterly Results
2025-05-01 10:56
Exhibit 99.1 Kimco Realty® Announces First Quarter 2025 Results – Raises 2025 Outlook on Robust Growth in Net Income and FFO – – Same Property NOI Increased 3.9%; Credit Loss Better than Expected – – Leased Over Four Million Square Feet; New Lease Spreads Approach 49% – – Achieves Strategic Target: 85% of Annual Base Rent from Grocery-Anchored Portfolio – JERICHO, New York, May 1, 2025 - Kimco Realty ® (NYSE: KIM), a real estate investment trust (REIT) and leading owner and operator of high-quality, open-ai ...
Kimco Realty® Announces First Quarter 2025 Results
Globenewswire· 2025-05-01 10:50
Core Insights - Kimco Realty raised its 2025 outlook due to strong growth in net income and funds from operations (FFO) [1][10] - The company reported a 3.9% increase in same property net operating income (NOI) and better-than-expected credit loss performance [1][4] - Kimco signed over four million square feet in leases, achieving new lease spreads approaching 49% [1][11] - The company reached its strategic target of deriving 85% of annual base rent from grocery-anchored properties [1][4] Financial Performance - For Q1 2025, net income available to common shareholders was $125.1 million, or $0.18 per diluted share, compared to a loss of $18.9 million, or ($0.03) per diluted share in Q1 2024 [4][21] - FFO for Q1 2025 was $301.9 million, or $0.44 per diluted share, reflecting a 12.8% increase from $261.8 million, or $0.39 per diluted share in Q1 2024 [6][24] - Consolidated revenues from rental properties increased by $32.4 million, primarily due to higher minimum rent and increased reimbursement income [5][21] Leasing and Occupancy - The company signed 583 leases totaling 4.4 million square feet in Q1 2025, with blended pro-rata cash rent spreads of 13.3% [11] - Pro-rata leased occupancy was 95.8%, with a slight anticipated reduction due to vacating leases [11] - Pro-rata small shop occupancy increased to 91.7%, while pro-rata anchor occupancy was at 97.4% [11] Strategic Initiatives - Kimco completed nine grocery leases, including a significant agreement with Sprouts Farmers Market, enhancing future cash flow visibility [3][4] - The company expanded its pipeline of near-term rent commencements to $60 million of annual base rent from signed leases [4][11] - Kimco acquired The Markets at Town Center, a 254,000-square-foot grocery-anchored property in Jacksonville, Florida, for $108 million [4][11] Capital Management - The company ended Q1 2025 with $2.0 billion in immediate liquidity, including $1.9 billion available on its unsecured revolving credit facility [11] - Subsequent to the quarter end, Kimco repurchased 3.0 million shares at an average price of $19.61 per share [11] - The board declared a quarterly cash dividend of $0.25 per common share, payable on June 20, 2025 [11]
What's in the Cards for Kimco Realty Stock in Q1 Earnings?
ZACKS· 2025-04-28 16:15
Company Overview - Kimco Realty Corporation (KIM) is expected to report first-quarter 2025 results on May 1, with anticipated year-over-year growth in revenues and funds from operations (FFO) per share [1] - In the last reported quarter, Kimco met the Zacks Consensus Estimate for FFO at 42 cents per share, reflecting better-than-expected revenue growth despite rising interest expenses [2] Industry Insights - The U.S. retail real estate market experienced a pullback in net absorption in Q1 2025, with a negative shift leading to a national vacancy rate increase of 20 basis points to 5.5% year over year [3][4] - The first quarter saw negative net absorption of 5.9 million square feet, marking the largest single-quarter decline since Q3 2020, with neighborhood centers accounting for 75% of the demand pullback [4] - Only 2.2 million square feet of new shopping center space was delivered from the beginning of the year through April 14, 2025, contributing to a scarcity in the market [5] Performance Projections - Kimco's top line is projected to improve, with the Zacks Consensus Estimate for quarterly revenues at $528.9 million, indicating around 5% growth from the prior year [9] - Estimated net revenues from rental properties stand at $517.6 million, suggesting a 3.8% year-over-year increase, with leased occupancy expected to rise 10 basis points to 96.1% [10] - Interest expenses are projected to increase by 6.6% year over year for the first quarter [10] Market Position - Kimco's portfolio of premium shopping centers, primarily grocery-anchored and located in key metropolitan areas, is expected to support stable revenue generation [6][7] - The diverse tenant base, including essential and necessity-based retailers, is likely to contribute to top-line growth during the upcoming quarter [7]
Kimco Realty: A Wonderful Boring Stock For Today's Chaotic Times
Seeking Alpha· 2025-04-16 14:49
Group 1 - The article highlights the investment strategy of focusing on undercovered and unappreciated Canadian dividend stocks, which are excellent companies with solid values that pay dividends [1]
Kimco Realty® Invites You to Join Its First Quarter Earnings Conference Call
Newsfilter· 2025-03-27 20:30
Core Insights - Kimco Realty® will announce its first quarter 2025 earnings on May 1, 2025, before market open [1] - The earnings conference call will take place at 8:30 AM ET and will be accessible via live webcast [1] Company Overview - Kimco Realty® is a real estate investment trust (REIT) focused on owning and operating high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the U.S. [2] - The company's portfolio includes 568 U.S. shopping centers and mixed-use assets, totaling 101 million square feet of gross leasable space as of December 31, 2024 [2] - Kimco Realty has been publicly traded on the NYSE since 1991 and is included in the S&P 500 Index, with over 65 years of experience in shopping center ownership and management [2] Communication Strategy - The company communicates material information to investors through its investor relations website, SEC filings, press releases, public conference calls, and webcasts [3] - Kimco Realty also utilizes social media platforms to share information, encouraging stakeholders to review updates on channels like Facebook and LinkedIn [3]
Here's Why You Should Retain Kimco Realty Stock in Your Portfolio Now
ZACKS· 2025-03-21 17:25
Core Viewpoint - Kimco Realty (KIM) is strategically positioned to benefit from its premium retail property portfolio, particularly in high-growth areas, despite challenges from e-commerce and high-interest expenses [1][9][10] Group 1: Company Strengths - Kimco's portfolio consists of premium shopping centers located in first-ring suburbs of major metropolitan areas, which supports rent growth due to high employment and spending power [3] - The company executed 1,556 leases totaling 10.3 million square feet in 2024, demonstrating strong leasing activity with 56 consecutive quarters of positive leasing spreads [4] - A diversified tenant base, including essential and omni-channel retailers, is expected to provide stable cash flows, with a projected 3.5% increase in net revenues from rental properties in 2025 [5] Group 2: Financial Position - Kimco exited Q4 2024 with $2.7 billion in immediate liquidity and has a consolidated weighted average debt maturity profile of 8.0 years, indicating a strong balance sheet [6] - The company has increased its dividend by 4.2% to 25 cents per share, reflecting a commitment to shareholder returns and a five-year annualized dividend growth rate of 10.68% [8] Group 3: Challenges Facing the Company - The shift from brick-and-mortar retail to e-commerce, particularly in the grocery sector, poses a risk to Kimco's ability to raise rental rates and fill vacancies [9] - High-interest rates remain a concern, with total consolidated debt at approximately $8.46 billion as of December 31, 2024, and a projected 4.4% increase in interest expenses in 2025 [10]
Kimco Realty: Strong Dividend Value
Seeking Alpha· 2025-03-11 06:35
Core Insights - Kimco Realty Corporation (NYSE: KIM) reported funds from operations (FFO) of $0.42 per share in Q4 2024, aligning with market expectations for FFO [1] Financial Performance - The company continues to experience an increase in rents per square foot, indicating a positive trend in rental income [1]
Kimco Realty: Stock Up On This Grocery-Anchored Bargain
Seeking Alpha· 2025-03-07 12:15
Group 1 - iREIT+HOYA Capital focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1] - The service offers a free two-week trial to explore top ideas across exclusive income-focused portfolios [1] Group 2 - The preference for tangible assets, such as REITs, is highlighted due to their visible asset profiles that can be physically visited [2] - The investment strategy emphasizes defensive stocks with a medium- to long-term horizon [2]
Kimco: Strong Fundamentals Are Reflected In Valuation (Rating Downgrade)
Seeking Alpha· 2025-03-07 03:49
Group 1 - Kimco's shares have shown moderate performance over the past year, increasing by over 8% [1] - However, shares have declined by over 15% in recent months due to elevated interest rates [1] - The company has a history of making contrarian bets based on macro views and stock-specific turnaround stories [1]