Announcement • May 21
Drip Coffee Files Lawsuit Against Kimco Realty Corporation Drip Coffee filed suit in the Circuit Court of the Seventeenth Judicial Circuit in Broward County, Florida, accusing Kimco Realty Corporation, a New York-based developer of open-air shopping centers, of systemic fraudulent business practices in which the company enters into multi-year leases with tenants while simultaneously planning to evict those same tenants at a later date to make room for larger retailers. The lawsuit claims that Drip Coffee was used as a 'pawn' to provide short-term rent to Kimco and its subsidiaries while they failed to disclose that they intended to begin a massive redevelopment and demolition project affecting more than 100,000 square feet of the shopping center, including the demolition of an LA Fitness and a movie theater, to accommodate a highly lucrative deal with Target. Drip Coffee alleges that Kimco committed fraud by soliciting leases they knew they could not fulfill. Drip's lawsuit was filed after attempts to resolve the matter with Kimco failed. Declared Dividend • May 20
First quarter dividend of US$0.26 announced Shareholders will receive a dividend of US$0.26. Ex-date: 5th June 2026 Payment date: 18th June 2026 Dividend yield will be 4.5%, which is lower than the industry average of 5.6%. Announcement • May 02
Kimco Realty Corporation Updates Earnings Guidance for the Year 2026 Kimco Realty Corporation updated earnings guidance for the year 2026. For the year, the company expects net income per diluted share to be $0.83 to $0.87 compared to previous guidance of $0.80 to $0.84. Announcement • May 01
Kimco Realty Corporation announces Quarterly dividend, payable on June 18, 2026 Kimco Realty Corporation announced Quarterly dividend of USD 0.2600 per share payable on June 18, 2026, ex-date on June 05, 2026 and record date on June 05, 2026. Announcement • Jan 28
Kimco Realty Corporation Announces Executive Changes Kimco Realty Corporation announced that on January 27, 2026, Paul Westbrook notified Kimco Realty Corporation of his intention to retire as Vice President, Executive Vice President and Treasurer of the Company and Kimco Realty OP, LLC, effective March 31, 2026. Kathleen Thayer, Senior Vice President and Treasurer, Corporate Accounting, will succeed Mr. Westbrook as Executive Vice President and Treasurer of the Company and Kimco Realty OP, LLC, effective April 1, 2026. Ms. Thayer, age 48, joined the Company in June 2006 as an Accounting Manager, became Vice President and Assistant Treasurer in February 2022, and became Senior Vice President and Treasurer, Corporate Accounting in January 2024. Prior to joining the Company, Ms. Thayer spent seven years at BDO Seidman, LLP, where she served as a Manager in the audit group. Ms. Thayer is a Certified Public Accountant with a Bachelor of Science in Accounting from The State University of New York at Geneseo. Announcement • Jan 22
Kimco Realty Corporation Appoints David Jamieson to its Board of Directors, Effective January 19, 2026 Kimco Realty Corporation announced that David Jamieson has been appointed to the Company’s Board of Directors, expanding the board to ten members. Mr. Jamieson’s term began January 19, 2026. David Jamieson is Executive Vice President and Chief Operating Officer of the Company. He joined the Company in 2007 and became the Company’s Executive Vice President and Chief Operating Officer in February 2017. Prior to that, he served as the Company’s Executive Vice President of Asset Management and Operations since 2015, where his role has been to identify, develop and implement opportunistic value creation strategies that optimize the Company’s portfolio performance, most notably by leading the Company’s redevelopment and emerging mixed-use platform. Mr. Jamieson is also a voting member of the Company’s Investment Committee, which approves all new investments, development projects and property dispositions. He is also instrumental in shaping the Company’s Corporate Responsibility strategy with a core focus on long-term sustainability objectives. Previously, he also served as Vice President of Asset Management and Leasing for the Western Region from 2012 to 2015 and as Director of Real Estate for the Western Region from 2009 to 2011. Mr. Jamieson holds a B.S. from Boston College and an M.B.A. from Babson College. Announcement • Dec 15
Kimco Realty Corporation to Report Q4, 2025 Results on Feb 12, 2026 Kimco Realty Corporation announced that they will report Q4, 2025 results Pre-Market on Feb 12, 2026 Announcement • Nov 04
Kimco Realty Corporation has filed a Follow-on Equity Offering in the amount of $750 million. Kimco Realty Corporation has filed a Follow-on Equity Offering in the amount of $750 million.
Security Name: Common Stock
Security Type: Common Stock
Security Features: Income Trust
Transaction Features: At the Market Offering Announcement • Oct 31
Kimco Realty Corporation (NYSE:KIM) acquired remaining 85% stake in Tanasbourne Village for $65.9 million. Kimco Realty Corporation (NYSE:KIM) acquired remaining 85% stake in Tanasbourne Village for $65.9 million during the third quarter ended September 30, 2025. A cash consideration of $65.9 million will be paid by Kimco Realty Corporation. The company used proceeds from a tax deferred 1031 exchange from the second quarter sale of a freestanding, Home Depot anchored property in Santa Ana, California.
Kimco Realty Corporation (NYSE:KIM) completed the acquisition of remaining 85% stake in Tanasbourne Village during the third quarter ended September 30, 2025. Announcement • Sep 18
Kimco Realty Corporation to Report Q3, 2025 Results on Oct 30, 2025 Kimco Realty Corporation announced that they will report Q3, 2025 results Pre-Market on Oct 30, 2025 Announcement • Jun 25
Kimco Realty Corporation to Report Q2, 2025 Results on Jul 31, 2025 Kimco Realty Corporation announced that they will report Q2, 2025 results Pre-Market on Jul 31, 2025 Announcement • Mar 28
Kimco Realty Corporation to Report Q1, 2025 Results on May 01, 2025 Kimco Realty Corporation announced that they will report Q1, 2025 results Pre-Market on May 01, 2025 Announcement • Feb 24
Kimco Realty Corporation, Annual General Meeting, Apr 29, 2025 Kimco Realty Corporation, Annual General Meeting, Apr 29, 2025. Announcement • Jan 21
Kimco Realty Corporation Announces Management Changes Kimco Realty Corporation announced the following changes to the Company’s Board of Directors: After more than 60 years of leadership, Mr. Milton Cooper will retire as Executive Chairman of the Company and Kimco Realty OP, LLC at the 2025 Annual Meeting of Stockholders. Upon Mr. Cooper’s retirement as Executive Chairman of the Company and Kimco OP, Richard Saltzman will become the Independent Chairman of the Board of Directors, Mary Hogan Preusse will conclude her service as Lead Independent Director while remaining a member of the Board, and Milton Cooper will assume the title of Chairman Emeritus. In addition, effective January 21, 2025, the Board has appointed Nancy Lashine and Ross Cooper to the Company’s Board of Directors, with Ms. Lashine to serve on the Audit and Executive Compensation Committees of the Board. In 1960, Mr. Cooper and his partner Marty Kimmel founded the Company’s predecessor. In 1991, Mr. Cooper led the Company through its initial public offering, which was the first successful equity real estate investment trust IPO of its time and often referred to as the beginning of the modern REIT era. With over six decades of leadership experience, Milton Cooper was a director and President of the Company prior to 1991, then served as Chief Executive Officer and Chairman of the Board from 1991 to 2009. Mr. Cooper has received multiple accolades over his career, including a National Association of Real Estate Investment Trusts (“NAREIT”) Industry Leadership Award for his significant and lasting contributions to the REIT industry. Richard Saltzman has served as a director of the Company since 2003 and currently serves as Chair of the Audit Committee. In addition to Kimco, he also serves on the board of directors of Equiem Holdings Pty. Ltd. and as a Senior Advisor at Peaceable Street Capital. Mr. Saltzman previously served as Chief Executive Officer and President of Colony Capital. Prior to joining Colony Capital, Mr. Saltzman was a Vice Chairman and the Global Head of Real Estate at Merrill Lynch’s investment banking division. Nancy Lashine is the managing partner and founder of Park Madison Partners. Ms. Lashine previously served as a Board member of Boston-based developer and real estate investment management firm The Davis Companies. She graduated cum laude with a BFA from Case Western Reserve University and an MBA from Columbia Business School. Ross Cooper has served as the Company’s President and Chief Investment officer since 2017. He has been with the Company since 2006 where he has served in various other leadership roles including Senior Vice President and Vice President of Acquisitions, Dispositions and Asset Management for the Southern Region. He holds a B.S. from the University of Michigan and a Master’s in Real Estate from New York University. Announcement • Jan 09
Kimco Realty Corporation (NYSE:KIM) acquired The Markets at Town Center for approximately $110 million. Kimco Realty Corporation (NYSE:KIM) acquired The Markets at Town Center for approximately $110 million on January 8, 2025.
Kimco Realty Corporation (NYSE:KIM) completed the acquisition of The Markets at Town Center on January 8, 2025. Announcement • Dec 19
Kimco Realty Corporation to Report Q4, 2024 Results on Feb 07, 2025 Kimco Realty Corporation announced that they will report Q4, 2024 results Pre-Market on Feb 07, 2025 Declared Dividend • Nov 02
Third quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 5th December 2024 Payment date: 19th December 2024 Dividend yield will be 4.2%, which is lower than the industry average of 5.6%. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$0.19 (vs US$0.18 in 3Q 2023) Third quarter 2024 results: EPS: US$0.19 (up from US$0.18 in 3Q 2023). Revenue: US$507.6m (up 14% from 3Q 2023). Net income: US$128.0m (up 15% from 3Q 2023). Profit margin: 25% (in line with 3Q 2023). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Oct 02
Kimco Realty Corporation (NYSE:KIM) acquired Waterford Lakes Town Center, LLC for approximately $320 million. Kimco Realty Corporation (NYSE:KIM) acquired Waterford Lakes Town Center, LLC for approximately $320 million on October 1, 2024. A cash consideration of $158 million will be paid by Kimco Realty Corporation. As part of consideration, $158 million is paid towards common equity of Waterford Lakes Town Center, LLC. The consideration includes $164 million mortgage.
Kimco Realty Corporation (NYSE:KIM) completed the acquisition of Waterford Lakes Town Center, LLC on October 1, 2024. Announcement • Sep 13
Kimco Realty Corporation to Report Q3, 2024 Results on Oct 31, 2024 Kimco Realty Corporation announced that they will report Q3, 2024 results Pre-Market on Oct 31, 2024 Upcoming Dividend • Aug 29
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 05 September 2024. Payment date: 19 September 2024. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.3%). Recent Insider Transactions • Aug 06
Executive VP & COO recently sold €1.0m worth of stock On the 2nd of August, David Jamieson sold around 50k shares on-market at roughly €20.07 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Declared Dividend • Aug 05
Second quarter dividend of US$0.24 announced Shareholders will receive a dividend of US$0.24. Ex-date: 5th September 2024 Payment date: 19th September 2024 Dividend yield will be 4.9%, which is lower than the industry average of 5.6%. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: US$0.17 (vs US$0.16 in 2Q 2023) Second quarter 2024 results: EPS: US$0.17 (up from US$0.16 in 2Q 2023). Revenue: US$500.2m (up 13% from 2Q 2023). Net income: US$111.8m (up 12% from 2Q 2023). Profit margin: 22% (in line with 2Q 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 3.2% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Jun 15
Kimco Realty Corporation to Report Q2, 2024 Results on Aug 01, 2024 Kimco Realty Corporation announced that they will report Q2, 2024 results Pre-Market on Aug 01, 2024 Upcoming Dividend • May 30
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 06 June 2024. Payment date: 20 June 2024. Trailing yield: 5.3%. Within top quartile of German dividend payers (4.6%). In line with average of industry peers (5.2%). Declared Dividend • May 05
First quarter dividend of US$0.24 announced Shareholders will receive a dividend of US$0.24. Ex-date: 6th June 2024 Payment date: 20th June 2024 Dividend yield will be 5.5%, which is about the same as the industry average. Announcement • May 03
Kimco Realty Corporation Declares Quarterly Cash Dividend on Common Shares, Payable on June 20, 2024 Kimco Realty Corporation declared a quarterly cash dividend on common shares of $0.24 per share, payable on June 20, 2024, to shareholders of record on June 6, 2024. Reported Earnings • May 02
First quarter 2024 earnings released: US$0.028 loss per share (vs US$0.46 profit in 1Q 2023) First quarter 2024 results: US$0.028 loss per share (down from US$0.46 profit in 1Q 2023). Revenue: US$503.8m (up 14% from 1Q 2023). Net loss: US$18.9m (down 107% from profit in 1Q 2023). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Mar 26
Kimco Realty Corporation, Annual General Meeting, May 07, 2024 Kimco Realty Corporation, Annual General Meeting, May 07, 2024, at 10:00 US Eastern Standard Time. Agenda: To consider the Election of eight directors to serve until the 2025 annual meeting of stockholders and until their successors are duly elected and qualify; to consider the Advisory resolution to approve the Company’s executive compensation as described in the Proxy Statement; to consider the Approval of an amendment to the charter of the Company to increase the number of authorized shares of stock; to consider the Ratification of the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2024; and to transact any other business that may properly come before the meeting or any postponement or adjournment thereof. Announcement • Mar 22
Kimco Realty Corporation to Report Q1, 2024 Results on May 02, 2024 Kimco Realty Corporation announced that they will report Q1, 2024 results Pre-Market on May 02, 2024 Upcoming Dividend • Feb 28
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 06 March 2024. Payment date: 21 March 2024. Trailing yield: 4.9%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (6.3%). Declared Dividend • Feb 11
Fourth quarter dividend of US$0.24 announced Shareholders will receive a dividend of US$0.24. Ex-date: 6th March 2024 Payment date: 21st March 2024 Dividend yield will be 5.3%, which is lower than the industry average of 5.6%. Reported Earnings • Feb 09
Full year 2023 earnings released: EPS: US$1.02 (vs US$0.16 in FY 2022) Full year 2023 results: EPS: US$1.02 (up from US$0.16 in FY 2022). Revenue: US$1.78b (up 3.2% from FY 2022). Net income: US$629.3m (up US$530.7m from FY 2022). Profit margin: 35% (up from 5.7% in FY 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 1.7% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Jan 02
Kimco Realty Corporation (NYSE:KIM) completed the acquisition of RPT Realty (NYSE:RPT) from a group of shareholders. Kimco Realty Corporation (NYSE:KIM) entered into a definitive merger agreement to acquire RPT Realty (NYSE:RPT) from a group of shareholders for $1 billion on August 27, 2023. Under the terms of the merger agreement, RPT shareholders will receive 0.6049 of a newly-issued Kimco share for each RPT share they own, representing a total consideration of approximately $11.34 per RPT share based on Kimco’s closing share price on August 25, 2023. Each RPT Series D Preferred Share issued and outstanding shall be cancelled and retired and automatically converted into the right to receive one one-thousandth (1/1,000 th ) of a share of new Kimco Preferred Stock. RPT will be acquired by Kimco in an all-stock transaction valued at approximately $2 billion, including the assumption of debt and preferred stock. At closing, Kimco stockholders and RPT shareholders are expected to own approximately 92% and 8% of the combined company, respectively. In case of termination, Kimco will be entitled to the termination fee of $33.6 million from RPT in specified circumstances.The completion of the merger is subject to satisfaction or waiver of certain conditions, including the approval of two-thirds of all the votes entitled to be cast by the holders of RPT’s common shares, the effectiveness of the registration statement on Form S-4 to be filed by Kimco, the authorization for listing of Kimco Common Stock and Kimco’s preferred stock (or depositary shares in respect thereof) to be issued in connection with the Mergers on the New York Stock Exchange and the receipt by Kimco and RPT of an opinion of its counsel, dated as of the closing date, to the effect that the company merger will qualify as a “reorganization” within the meaning of Section 368(a) of the Code. The board of directors of Kimco and the board of trustees of RPT both unanimously approved the transaction. The RPT board of trustees unanimously resolved to recommend that the holders of RPT common shares vote in favor of the merger proposal. The transaction is expected to close in the first quarter of 2024. The transaction expected to be immediately accretive to funds from operations (“FFO”), with expected annual cost synergies of approximately $34 million. As of December 12, 2023, RPT Realty shareholders approved the transaction. The merger is expected to close on January 2, 2024.Simpson Thacher & Bartlett LLP is representing J.P. Morgan Securities LLC is acting as financial advisor and David E. Shapiro and Steven R. Green of Wachtell, Lipton, Rosen & Katz are acting as legal advisors to Kimco. Lazard Frères & Co. LLC is acting as financial advisor and fairness opinion provider to RPT Board. Mark S. Opper and Blake Liggio of Goodwin Procter LLP are acting as legal advisors to RPT. ICR, LLC is serving as communications advisor to Kimco. Prosek Partners is serving as communications advisor to RPT. EQ Shareowner Services acted as transfer agent to Kimco. Innisfree M&A Incorporated acted as proxy solicitor to RPT for a base fee of approximately $25,000. RPT has also agreed to reimburse Innisfree M&A Incorporated for reasonable out-of-pocket expenses and disbursements incurred in connection with the proxy solicitation. In connection with Lazard’s services as financial advisor to RPT in connection with the mergers, RPT agreed to pay Lazard a fee for such services estimated, based on information available on August 25, 2023, to be approximately $18.2 million, $2.5 million of which was payable upon Lazard rendering its opinion, $2.0 million of which was payable upon announcement of the mergers, and the remainder of which is contingent on the consummation of the mergers. Lazard, J.P. Morgan, Goodwin and Wachtell also acted as due diligence providers in the transaction. Venable LLP and Latham & Watkins LLP acted as legal advisors to Kimco.Kimco Realty Corporation (NYSE:KIM) completed the acquisition of RPT Realty (NYSE:RPT) from a group of shareholders on January 2, 2024. Announcement • Dec 19
Brixton Capital, LP acquired Monterey Plaza from a joint venture between Kimco Realty Corporation (NYSE:KIM) and Prudential Global Investment Management. Brixton Capital, LP acquired Monterey Plaza from a joint venture between Kimco Realty Corporation (NYSE:KIM) and Prudential Global Investment Management recently. Nicholas Bicardo of Newmark Group, Inc. represented the seller in the transaction, while Brixton Capital represented itself. Announcement • Dec 12
Kimco Realty Corporation to Report Q4, 2023 Results on Feb 08, 2024 Kimco Realty Corporation announced that they will report Q4, 2023 results Pre-Market on Feb 08, 2024 Upcoming Dividend • Nov 29
Upcoming dividend of US$0.33 per share at 5.1% yield Eligible shareholders must have bought the stock before 06 December 2023. Payment date: 21 December 2023. Trailing yield: 5.1%. Within top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.4%). Announcement • Nov 15
Kimco Realty® Declares Special Cash Dividend of Common Stock, Payable on December 21, 2023 Kimco Realty® announced that its Board of Directors has declared a one-time, special dividend of $0.09 per share of common stock to satisfy its distribution requirements as a REIT. The special dividend is payable in cash on December 21, 2023, to stockholders of record on December 7, 2023. Buying Opportunity • Oct 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be €20.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has declined by 54%. For the next 3 years, revenue is forecast to grow by 2.0% per annum. Earnings is forecast to decline by 2.1% per annum over the same time period. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: US$0.18 (vs US$0.083 in 3Q 2022) Third quarter 2023 results: EPS: US$0.18 (up from US$0.083 in 3Q 2022). Revenue: US$446.1m (up 2.9% from 3Q 2022). Net income: US$112.0m (up 119% from 3Q 2022). Profit margin: 25% (up from 12% in 3Q 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 2.7% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. New Risk • Oct 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (21% net profit margin). New Risk • Oct 17
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (21% net profit margin). Announcement • Sep 13
Kimco Realty Corporation to Report Q3, 2023 Results on Oct 26, 2023 Kimco Realty Corporation announced that they will report Q3, 2023 results Pre-Market on Oct 26, 2023 Upcoming Dividend • Aug 30
Upcoming dividend of US$0.23 per share at 4.9% yield Eligible shareholders must have bought the stock before 06 September 2023. Payment date: 21 September 2023. Trailing yield: 4.9%. Within top quartile of German dividend payers (4.9%). Lower than average of industry peers (6.3%). Announcement • Aug 29
Kimco Realty Corporation (NYSE:KIM) entered into a definitive merger agreement to acquire RPT Realty (NYSE:RPT) for $1 billion. Kimco Realty Corporation (NYSE:KIM) entered into a definitive merger agreement to acquire RPT Realty (NYSE:RPT) for $1 billion on August 28, 2023. Under the terms of the merger agreement, RPT shareholders will receive 0.6049 of a newly-issued Kimco share for each RPT share they own, representing a total consideration of approximately $11.34 per RPT share based on Kimco’s closing share price on August 25, 2023. Each RPT Series D Preferred Share issued and outstanding shall be cancelled and retired and automatically converted into the right to receive one one-thousandth (1/1,000 th ) of a share of new Kimco Preferred Stock. RPT will be acquired by Kimco in an all-stock transaction valued at approximately $2 billion, including the assumption of debt and preferred stock. At closing, Kimco stockholders and RPT shareholders are expected to own approximately 92% and 8% of the combined company, respectively. In case of termination, RPT must pay a termination fee of the lesser of $33,642,370 or the maximum amount that could be paid to Kimco.
The completion of the Mergers is subject to satisfaction or waiver of certain conditions, including the approval of two-thirds of all the votes entitled to be cast by the holders of RPT’s common shares, the effectiveness of the registration statement on Form S-4 to be filed by Kimco, the authorization for listing of Kimco Common Stock and Kimco’s preferred stock (or depositary shares in respect thereof) to be issued in connection with the Mergers on the New York Stock Exchange. The board of directors of Kimco and the board of trustees of RPT both unanimously approved the transaction. The transaction is expected to close in the beginning of 2024. Transaction expected to be immediately accretive to funds from operations (“FFO”), with expected annual cost synergies of approximately $34 million.
J.P. Morgan is acting as financial advisor and David E. Shapiro and Steven R. Green of Wachtell, Lipton, Rosen & Katz is acting as legal advisor to Kimco. Lazard is acting as financial advisor and Mark S. Opper and Blake Liggio of Goodwin Procter LLP is acting as legal advisor to RPT. Lazard Freres & Co. LLC acted as fairness opinion provider to the board of RPT. ICR, LLC is serving as communications advisor to Kimco. Prosek Partners is serving as communications advisor to RPT. Equiniti Trust Company acted as transfer agent to Kimco. Announcement • Aug 26
Kimco Realty Corporation (NYSE:KIM) acquired Stonebridge at Potomac Town Center in Woodbridgefor approximately $170 million. Kimco Realty Corporation (NYSE:KIM) acquired Stonebridge at Potomac Town Center in Woodbridge for approximately $170 million on August 24, 2023.
Kimco Realty Corporation (NYSE:KIM) completed the acquisition of Stonebridge at Potomac Town Center in Woodbridge on August 24, 2023. Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: US$0.16 (vs US$0.20 loss in 2Q 2022) Second quarter 2023 results: EPS: US$0.16 (up from US$0.20 loss in 2Q 2022). Revenue: US$442.8m (up 3.7% from 2Q 2022). Net income: US$100.4m (up US$226.7m from 2Q 2022). Profit margin: 23% (up from net loss in 2Q 2022). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 3.3% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Announcement • Jun 16
Kimco Realty Corporation to Report Q2, 2023 Results on Jul 27, 2023 Kimco Realty Corporation announced that they will report Q2, 2023 results at 9:30 AM, US Eastern Standard Time on Jul 27, 2023 Buying Opportunity • Jun 08
Now 21% undervalued Over the last 90 days, the stock is up 1.1%. The fair value is estimated to be €22.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has declined by 39%. For the next 3 years, revenue is forecast to grow by 2.7% per annum. Earnings is also forecast to grow by 13% per annum over the same time period. Upcoming Dividend • May 31
Upcoming dividend of US$0.23 per share at 5.1% yield Eligible shareholders must have bought the stock before 07 June 2023. Payment date: 22 June 2023. Trailing yield: 5.1%. Within top quartile of German dividend payers (4.8%). Lower than average of industry peers (7.1%). Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: US$0.46 (vs US$0.37 in 1Q 2022) First quarter 2023 results: EPS: US$0.46 (up from US$0.37 in 1Q 2022). Revenue: US$442.9m (up 3.7% from 1Q 2022). Net income: US$283.5m (up 24% from 1Q 2022). Profit margin: 64% (up from 54% in 1Q 2022). Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 3.2% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Buying Opportunity • Apr 13
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be €21.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 20%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings is also forecast to grow by 20% per annum over the same time period. Board Change • Mar 15
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Henry T. Moniz was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 13
Kimco Realty Corporation to Report Q4, 2022 Results on Feb 09, 2023 Kimco Realty Corporation announced that they will report Q4, 2022 results Pre-Market on Feb 09, 2023 Upcoming Dividend • Dec 01
Upcoming dividend of US$0.23 per share Eligible shareholders must have bought the stock before 08 December 2022. Payment date: 23 December 2022. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (5.6%). Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Henry T. Moniz was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings released: FFO per share: US$0.4 (vs US$0.38 in 3Q 2021) Third quarter 2022 results: FFO per share: US$0.4 (up from US$0.38 in 3Q 2021). Revenue: US$433.4m (up 18% from 3Q 2021). Funds from operations (FFO): US$254.5m (up 47% from 3Q 2021). FFO margin: 59% (up from 47% in 3Q 2021). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Sep 01
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 08 September 2022. Payment date: 23 September 2022. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.0%). Reported Earnings • Jul 29
Second quarter 2022 earnings released: US$0.20 loss per share (vs US$0.25 profit in 2Q 2021) Second quarter 2022 results: US$0.20 loss per share (down from US$0.25 profit in 2Q 2021). Revenue: US$427.2m (up 48% from 2Q 2021). Net loss: US$125.8m (down 215% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 3.3%, compared to a 2.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 01
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 08 June 2022. Payment date: 23 June 2022. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (4.4%). Recent Insider Transactions • May 04
Executive VP recently sold €238k worth of stock On the 3rd of May, Glenn Cohen sold around 10k shares on-market at roughly €23.78 per share. This was the largest sale by an insider in the last 3 months. This was Glenn's only on-market trade for the last 12 months. Reported Earnings • May 01
First quarter 2022 earnings released: FFO: US$427.2m per share (vs US$0.34 in 1Q 2021) First quarter 2022 results: FFO: US$427.2m per share (up from US$0.34 in 1Q 2021). Revenue: US$427.2m (up 51% from 1Q 2021). Funds from operations (FFO): US$240.6m (up 67% from 1Q 2021). FFO margin: 56% (up from 51% in 1Q 2021). Over the next year, revenue is forecast to grow 11% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Henry T. Moniz was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 02
Upcoming dividend of US$0.19 per share Eligible shareholders must have bought the stock before 09 March 2022. Payment date: 24 March 2022. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (3.4%). In line with average of industry peers (3.3%). Recent Insider Transactions • Mar 01
Independent Non-Management Director recently sold €169k worth of stock On the 22nd of February, Frank Lourenso sold around 8k shares on-market at roughly €20.68 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.8m more than they bought in the last 12 months. Reported Earnings • Feb 12
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: FFO: US$1.36b per share (up from US$1.17 in FY 2020). Revenue: US$1.36b (up 29% from FY 2020). Funds from operations (FFO): US$706.8m (up 40% from FY 2020). FFO margin: 52% (up from 48% in FY 2020). Revenue exceeded analyst estimates by 3.7%. Over the next year, revenue is forecast to grow 21%, compared to a 4.7% growth forecast for the reits industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Board Change • Dec 06
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Henry T. Moniz was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Dec 01
Upcoming dividend of US$0.17 per share Eligible shareholders must have bought the stock before 08 December 2021. Payment date: 23 December 2021. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (3.3%). In line with average of industry peers (2.8%). Reported Earnings • Nov 08
Third quarter 2021 earnings released: FFO US$0.38 per share (vs US$0.25 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$368.6m (up 42% from 3Q 2020). Funds from operations (FFO): US$173.7m (up 63% from 3Q 2020). FFO margin: 47% (up from 41% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 01
Upcoming dividend of US$0.17 per share Eligible shareholders must have bought the stock before 08 September 2021. Payment date: 23 September 2021. Trailing yield: 3.1%. Within top quartile of German dividend payers (3.1%). In line with average of industry peers (3.1%). Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS US$0.26 (vs US$1.71 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: US$289.0m (up 21% from 2Q 2020). Net income: US$110.3m (down 85% from 2Q 2020). Profit margin: 38% (down from 308% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. 
