Kimco Realty sells 10 former RPT properties for $248M in Q1 [Seeking Alpha]
Kimco Realty Corporation (HC) (KIM)
Last kimco realty corporation (hc) earnings: 1/30 07:30 am
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Source: Seeking Alpha
With these sales, the owner of open-air, grocery-anchored shopping centers has met its 2024 disposition target for former RPT properties. Recall in August when Kimco ( KIM agreed to acquire RPT in an all-stock deal valued at about $2B. Pricing for the 10 properties, which totaled 2.1M square feet of gross leasable area, equated to a blended in-place cap rate of about 8.5%. And, as part of the sales, Kimco ( KIM ) invested some $67M under is Structured Investment program on seven of the centers and expects to earn a 10% blended return on them. "These centers, which were primarily power centers, were prioritized for disposition due to lower growth, higher risk profiles and/or the need for significant capital commitments, which were inconsistent with our long-term investment objectives,” said Kimco CEO Conor Flynn. He contended that remaining transaction activity for the year will likely see investment activity outpacing dispositions. The remaining 46 former RPT assets further inc
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News
- Kimco Realty: The 6.45% Preferred Shares Remain Attractive [Seeking Alpha]Seeking Alpha
- Kimco Realty Corp (NYSE: KIM) was downgraded by analysts at Bank of America Co. from a "buy" rating to a "neutral" rating. They now have a $20.00 price target on the stock, down previously from $24.00.MarketBeat
- Kimco Realty Corp (NYSE: KIM) had its price target lowered by analysts at Robert W. Baird from $23.00 to $21.00. They now have an "outperform" rating on the stock.MarketBeat
- Kimco (KIM) Attains 2024 Disposition Target for Former RPT Assets [Yahoo! Finance]Yahoo! Finance
- Kimco Realty® Announces First Quarter Transaction Activity Highlighted by the Sale of Ten Former RPT Properties for $248 Million [Yahoo! Finance]Yahoo! Finance
KIM
Earnings
- 2/8/24 - In-Line
KIM
Sec Filings
- 4/9/24 - Form SC
- 3/25/24 - Form ARS
- 3/25/24 - Form DEFA14A
- KIM's page on the SEC website