Kimco Realty Corporation (KIM) Q3 2024 Earnings Call Transcript
Kimco Realty Corporation (NYSE:KIM ) Q3 2024 Earnings Conference Call October 31, 2024 8:30 AM ET Company Participants David Bujnicki - SVP, IR Conor Flynn - CEO Ross Cooper - President & CIO Glenn Cohen - CFO Conference Call Participants Alexander Goldfarb - Piper Sandler Michael Goldsmith - UBS Juan Sanabria - BMO Capital Markets Dori Kesten - Wells Fargo Jeff Spector - Bank of America Samir Khanal - Evercore ISI Floris van Dijkum - Compass Point Craig Mailman - Citi Ravi Vaidya - Mizuho Greg McGinniss - Deutsche Bank Caitlin Burrows - Goldman Sachs Linda Tsai - Jefferies Wes Golladay - Baird Paulina Rojas - Green Street Capital Michael Mueller - JP Morgan Ronald Kamdem - Morgan Stanley Operator Hello and welcome to the Kimco Realty Third Quarter 2024 Earnings Conference Call. All participants will be in listen only mode.
Compared to Estimates, Kimco Realty (KIM) Q3 Earnings: A Look at Key Metrics
While the top- and bottom-line numbers for Kimco Realty (KIM) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Kimco Realty (KIM) Q3 FFO and Revenues Surpass Estimates
Kimco Realty (KIM) came out with quarterly funds from operations (FFO) of $0.43 per share, beating the Zacks Consensus Estimate of $0.41 per share. This compares to FFO of $0.40 per share a year ago.
Seeking Clues to Kimco Realty (KIM) Q3 Earnings? A Peek Into Wall Street Projections for Key Metrics
Evaluate the expected performance of Kimco Realty (KIM) for the quarter ended September 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
What's in the Cards for Kimco Realty Stock in Q3 Earnings?
While a healthy retail real estate market and focus on developing mixed-use assets are likely to aid KIM's Q3 earnings, high interest expenses may have hurt it.
Real Estate Could Soar in 2025. Here Are 2 Great Stocks You Can Buy Right Now
Falling interest rates could create a tailwind for REITs, and these could be great ways to invest.
What Makes Kimco Realty (KIM) a New Buy Stock
Kimco Realty (KIM) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Kimco Announces Buyout of Waterford Lakes Town Center for $322M
Strengthening its position in the Orlando market, KIM acquires Waterford Lakes Town Center for $322 million in Orlando, FL.
Kimco Realty Stock Rises 25.9% in Three Months: Here's How
KIM's focus on grocery-anchored centers, mixed-use assets and a solid balance sheet position is likely to bode well for long-term growth.
Yield Spreads Are Out Of Whack - How To Take Advantage
The Fed's anticipated rate cuts will likely shift $3 trillion from money market funds to longer-duration fixed-income assets, including RMBS, corporate bonds, and REIT preferreds. Mispricing in the high yield space, particularly REIT preferreds, presents substantial capital appreciation potential due to wide spreads and significant discounts to par value. Preferreds with sound fundamentals, large discounts to par, and high current spreads are poised for 15%+ capital appreciation and double-digit total returns.
Kimco Secures A- Credit Rating With Stable Outlook from Fitch
In a positive development, KIM achieves an 'A-' credit rating from Fitch based on its operational excellence, access to capital markets and balance sheet strength.
Kimco: 4.2% Yield, Strong Coverage, Dividend Growth Potential
Kimco Realty offers a high-quality 4.2% dividend yield with a low 60% pay-out ratio, indicating strong potential for future dividend growth. The trust's portfolio has strong lease metrics, with 96.2% occupancy and rising rents, supported by a 13% YoY increase in funds from operations. Kimco Realty's recent acquisition of RPT Realty and upward revision of FFO forecast highlight its growth potential and robust financial health.
