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Kimco Realty is a well-established real estate investment trust (REIT) with a rich history of providing stable returns to investors. Founded in 1956, Kimco Realty has been a leader in the retail real estate industry for over 65 years.
Kimco Realty's stock is listed on the New York Stock Exchange (NYSE) under the ticker symbol KIM. This makes it easily accessible to individual investors and institutional buyers alike.
As a REIT, Kimco Realty is required to distribute at least 90% of its taxable income to shareholders each year. This provides a steady stream of income for investors, making it an attractive option for those seeking regular dividend payments.
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Financial Data
Kimco Realty's revenue in 2023 was $1.78 billion, a 3.22% increase from the previous year. This growth is a positive sign for the company's financial health.
The company's earnings in 2023 were $628.76 million, a significant increase of 537.84% compared to the previous year. This surge in earnings is likely due to various factors, including improved operations and strategic investments.
Kimco Realty's sales have been steadily increasing over the years, with a 4.03% growth in 2023. Here's a breakdown of the company's sales growth over the past few years:
Year | Sales Growth |
---|---|
2023 | 4.03% |
2022 | 26.61% |
2021 | 28.99% |
2020 | -8.71% |
2019 | -0.50% |
2018 | -3.00% |
2017 | 2.57% |
Income Statements (USD)
Income Statements (USD) reveal a lot about a company's financial health. Kimco Realty's income statements show a significant increase in sales, with $1,797.30 million in 2023, a 4.03% change from the previous year.
The company's gross profit on sales also saw an increase, reaching $748.15 million in 2023, a 8.15% change from 2022. This indicates that Kimco Realty is able to maintain a healthy profit margin despite fluctuations in sales.
Here's a breakdown of Kimco Realty's income statements for 2023:
Income Statement Category | 2023 |
---|---|
Sales | $1,797.30 million |
Gross profit on sales | $748.15 million |
Operating income | $571.76 million |
Income before tax | $643.91 million |
Income after tax | $651.45 million |
Income before tax saw a significant increase of 1,353.40% in 2023, a stark contrast to the -94.05% change in 2022. This indicates that Kimco Realty's financial situation has improved dramatically in recent years.
Balance Sheet in USD
The balance sheet is a snapshot of a company's financial situation at a particular point in time. It's a crucial tool for investors, lenders, and analysts to understand a company's financial health.
A company's total liabilities, which include debts and obligations, can fluctuate from year to year. For example, in 2023, the total liabilities of the company were $8,548.29 million USD, while in 2022, they were $8,086.28 million USD.
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The balance sheet total, which includes both liabilities and equity, can also change significantly from year to year. In 2023, the balance sheet total was $18,274.02 million USD, a 2.51% increase from 2022.
Equity, which represents the company's net worth, can also be a useful metric to track. In 2023, the company's equity was $9,725.74 million USD, a 0.10% increase from 2022.
Here's a summary of the company's balance sheet totals for the past 7 years:
Year | Balance Sheet Total (USD) | Change in % |
---|---|---|
2023 | $18,274.02 million | 2.51% |
2022 | $17,826.12 million | -3.43% |
2021 | $18,459.20 million | 58.93% |
2020 | $11,614.50 million | 5.61% |
2019 | $10,997.87 million | -0.01% |
2018 | $10,999.10 million | -6.50% |
2017 | $11,763.73 million | 4.75% |
The company's balance sheet has experienced significant changes over the past 7 years, with some years showing significant increases or decreases in total liabilities and equity.
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Delayed NYSE Data
Delayed NYSE Data provides investors with a snapshot of the current market. The data for the stock in question is updated to January 17, 2025, at 04:00 PM ET.
The after-market price for this stock is $22.29, with no change in value (0.00%) as of 7:58 PM ET.
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The Zacks Rank system helps investors determine the short-term performance of stocks over the next 1 to 3 months. The system assigns a score based on the trading styles of Value, Growth, and Momentum.
Here's a breakdown of the Zacks Rank scores:
Rank | Definition | Annualized Return |
---|---|---|
1 | Strong Buy | 24.30% |
2 | Buy | 18.13% |
3 | Hold | 9.74% |
4 | Sell | 5.28% |
5 | Strong Sell | 2.72% |
S&P 500 | 11.39% |
The scores are based on the weighted average of the individual style scores, with a VGM Score combining Value, Growth, and Momentum into one score.
Company Information
Kimco Realty is a real estate investment trust (REIT) with a focus on owning and operating high-quality shopping centers and mixed-use properties.
The company's portfolio is strategically concentrated in the first-ring suburbs of top major metropolitan markets, including high-barrier-to-entry coastal markets and rapidly expanding Sun Belt cities.
Kimco Realty is publicly traded on the New York Stock Exchange under the ticker symbol KIM.
Related reading: Federal Realty Investment Trust
About Kim
Kimco Realty is a real estate investment trust (REIT) with a leading position in the industry. Its publicly traded stock is listed on the New York Stock Exchange under the ticker symbol KIM.
The company owns and operates high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States. Kimco's portfolio is strategically concentrated in the first-ring suburbs of major metropolitan markets.
These markets include high-barrier-to-entry coastal areas and rapidly expanding Sun Belt cities. This strategic focus allows Kimco to capitalize on the growing demand for essential goods and services in these areas.
Kimco's tenant mix is focused on necessity-based goods and services that drive multiple shopping trips per week. This approach helps to ensure a steady stream of customers for its tenants.
Management
The management team at Kimco Realty Management is a diverse and experienced group of professionals. Jason Lee serves as the company's Attorney.
The company has a strong leadership team, with Conor C. Flynn as the Chief Executive Officer & Director. Glenn Gary Cohen is the Chief Financial Officer, Treasurer & Executive VP, and Leah R. Landro is the Chief Human Resources Officer & Executive VP.
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The management team also includes several Co-Managing Directors, including Georgia M. Misoulis, Stuart Cox, and Matthew Golden, who all oversee Acquisitions & Dispositions. Other key executives include Patrick McCune, Peter Emsky, Tony Santo, and Brandon Reynolds, who serve as Construction Directors.
Here is a list of some of the key executives in the management team:
Job Title | Name |
---|---|
Chief Executive Officer & Director | Conor C. Flynn |
Chief Financial Officer, Treasurer & Executive VP | Glenn Gary Cohen |
Chief Human Resources Officer & Executive VP | Leah R. Landro |
Co-Managing Director-Acquisitions & Dispositions | Georgia M. Misoulis |
Co-Managing Director-Acquisitions & Dispositions | Stuart Cox |
Co-Managing Director-Acquisitions & Dispositions | Matthew Golden |
The company also has several other executives who oversee various departments, including Real Estate, Marketing & Specialty Leasing, and Property Management.
Stock Performance
Kimco Realty's stock performance has been impressive in recent years. In 2023, the company's revenue was $1.78 billion, an increase of 3.22% compared to the previous year's $1.73 billion.
The significant jump in earnings is a major contributor to the company's strong stock performance. Earnings were $628.76 million, an increase of 537.84% compared to the previous year.
This substantial growth in earnings is a clear indication of Kimco Realty's financial health and stability.
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Analyst Opinions
Analyst opinions can be a great indicator of a stock's potential, but it's essential to understand what they're saying. Analysts have been following Kimco Realty's performance, and their opinions have fluctuated over time.
Mizuho, a reputable analyst, has consistently maintained a "Buy" rating for Kimco Realty, with a price target of $20 or higher in several instances. This suggests a high level of confidence in the company's future prospects.
Bank of America Merrill Lynch, on the other hand, downgraded Kimco Realty to a "Hold" rating in April 2024, citing neutral sentiment. This change in opinion may indicate a shift in the analyst's perception of the company's growth potential.
Other analysts, like Baird Patrick & Co and Jefferies & Company Inc., have also maintained a "Buy" rating for Kimco Realty, with price targets ranging from $20 to $22. This suggests a broad consensus among analysts that the company has strong potential for growth.
Here is a summary of analyst opinions:
Analyst | Rating | Price Target |
---|---|---|
Mizuho | Buy | $20 |
Baird Patrick & Co | Buy | $21 |
Jefferies & Company Inc. | Buy | $22 |
Bank of America Merrill Lynch | Hold | $20 |
It's essential to keep in mind that analyst opinions can change over time, and it's crucial to stay up-to-date with the latest information.
Financial Performance
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Kimco Realty's revenue in 2023 was $1.78 billion, a 3.22% increase from the previous year.
This is a notable increase, but let's take a closer look at the company's earnings.
Kimco Realty's earnings in 2023 were $628.76 million, a staggering 537.84% increase from the previous year.
This suggests that the company is performing well financially, at least in terms of earnings.
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Frequently Asked Questions
Is Kimco a good stock to buy?
Kimco Realty has a Moderate Buy consensus rating based on 7 buy and 11 hold ratings, indicating a neutral to positive outlook. Investors may want to consider Kimco as a potential buy, but it's essential to do further research before making a decision.
Is Kimco a publicly traded company?
Yes, Kimco Realty is a publicly traded company, listed on the NYSE since 1991. It's also a member of the prestigious S&P 500 Index.
What is the net worth of Kimco Realty?
As of December 30, 2024, Kimco Realty's net worth is $15.65 billion. This figure represents a significant increase from the previous year.
What is Kimco debt to equity ratio?
Kimco Realty's debt to equity ratio is 0.74, indicating a moderate level of leverage. This ratio has increased by 10.84% from 2021, suggesting a higher reliance on debt financing.
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