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Kimco Realty Corporation (KIM-PM)
NYSE - Nasdaq Real-time price. Currency in USD
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the way KIM is acting and reaching new highs with the exception of increased volume is very interesting and could portend a potential buyout - say Brookfield??
PLD buying DRE!
Kimco boosts term loan by $215M
Apr. 24, 2020 4:09 PM ET|About: Kimco Realty Corporation (KIM)|By: Liz Kiesche, SA News Editor
Kimco Realty (NYSE:KIM) exercises the accordion feature on its previously announced $375M unsecured term loan facility, bringing total borrowings under the facility to $590M.
The company can boost the amount again, by as much as $535M to more than $1.1B.
The term loan is scheduled to mature April 2021, extendable at Kimco’s option for one year until April 2022.
With more than $900M of cash on the balance sheet and $1.3B available under its unsecured revolving credit facility, Kimco has more than $2.2B of immediate liquidity.
Interest on the term loan borrowings accrues at a spread (currently 1.400%) to LIBOR or, at the company’s option, a spread (currently 0.400%) to the base rate defined in the Credit Agreement, that in each case fluctuates in accordance with changes in Kimco’s senior debt ratings.
Yahoo Finance Insights
Kimco Realty reached a 52 Week high at 26.17
Yahoo Finance Insights
Kimco Realty is down 4.94% to 24.06
I have a quick question for long time Kim holders. When you ;look at the max chart here on yahoo something happend around August 2008 that cause the stock price to dive to around 7.90. The dive was dramatic even when compare to Market performance that year. I cannot find any explanation as to what drove this event. Does anyone have any information . Thanks in advance
Yahoo Finance Insights
Kimco Realty is up 4.91% to 26.48
Crossing below $9 is another add. People today Kimco is trading around 75% of Book.
That is a REIT, we are talking Depreciated Book. Do you guys understand that the current
price represents not only zero appreciation for the past decades, but also a steep discount
to the actual cost. All the depreciation taken on these properties has been deducted from
Book. You are pricing Kimco at Land Value or less, when you factor in their Alberstons Stake.
This is an easy buy and wait until senses come back.
Why does this stock and other REITs trade with such volatility. Who are these short term traders? The underlying business of REITs moves at the speed of a turtle, yet the stock trades around like the business is very dynamic and changes from day to day. First the traders sold it because brick and mortar was going to die. Then they sold it because interest rates were going to rise. It is becoming clear that real estate that is in great locations will survive and thrive and you need to look no further than the demand that will be created from Amazon's new HQs. In addition, interest rates have moderated and it is pretty clear that the Fed will slow down if not pause on the its interest rate increases. In addition, Kimco has done a great job selling locations that aren't going to be premium properties and reinvesting in premium properties that have a lot of upside with new entitlements, mixed use development and opportunities to bring below market leases up to market rates. This doesn't have to be so hard. For those who look deeper than an inch and have a forward looking investment approach this is a great asset to accumulate.
Albertson's filing for IPO @ $19 billion valuation. Anybody know how much Kimco owns and what value would go to Kimco?
Earnings were suppose to indicate a downward trend just like the share price over the last 6 months.
But instead of lowering guidance for 2018 they actually raised it.
Management is sticking to their game plan of re-positioning their
assets and it appears to be right on track.
Other than the share price...what's not to like?
Yahoo Finance Insights
Kimco Realty is down 4.93% to 24.08
Best day to buy. Day it goes X always down 3 percent or so on X day. This is a 20 stock all day
??? Down ???
Kimco has a portfolio of high quality real estate. The dividend is safe and the rents will rise especially in an economic boom. New supply is constrained. The new tax law should increase demand for REITs. The fundamentals are just better than the stock price is reflecting. So, it will be really interesting to see what this stock price will be in a year, in 2 years and in 5 years? Buying now is going against the crowd, but buying low provides high future returns.
This is such a great play. KIM went down 60% which is in-line with EAT and other restaurant REITs. The difference is KIM is grocery store anchored in prime locations. Way undervalued.....taking a conservative 25% haircut for lost small business rent, getting to $15 per share is an easy call. Buy Buy Buy!!!
Moody's report and technicals help explain today's action - closing in 10.30-s important as it would push KIM up into next trading range.
Kimco Realty Corporations (NYSE- KIM, Kimco) Baa1 senior unsecured debt rating reflects the solid and steady performance of its shopping center portfolio and strong liquidity position. The challenging retail environment and the REIT's elevated net debt + preferred to EBITDA ratio are some other important considerations. Its modest fixed charge coverage reflects the meaningful proportion of long-dated debt and perpetual preferred securities in the capital structure and pending income realization related to ongoing development/redevelopment projects. Some Kimco tenants will be meaningfully affected by the social distancing and store closure guidelines such that their ability to pay rent will be compromised. The REIT is well-equipped to work with its tenants due to its liquidity position and the meaningful proportion of rent-paying tenants who provide essential goods and services such as grocers and drug stores.
KIMPRM are at $20.50 the call price is $25 with at .33 cent payout on 6/29 a yield of 6.47% it is a good deal if Kimco get gets a credit upgrade which is what they are looking for a few months ago KIMPRM was trading $25 whats changed ? interests rates may stay low for awhile Kimco cash flow keeps improving they will buy back debt. Kimco common is also a buy with over 7% yield
KIM was smart to take some $ off the table prior to ipo
BY Knight Ridder/Tribune
— 9:03 AM ET 06/26/2020
Jun. 26--Thirty million Americans are unemployed, coronavirus cases are climbing, and plywood still covers storefronts in some Philly retail districts. But trillions in U.S. Treasury and Federal Reserve borrowing are pumping up the economy, so investors are buying, selling and even planning new operations. New deals include:
Shares of Albertsons Cos. Inc., the chain that owns Malvern-based Acme Markets plus many others -- nearly 2,300 U.S. supermarkets in all -- will be listed on the New York Stock Exchange Friday after the Idaho-based company's owners sold 50 million shares late Thursday to Wall Street bankers at $16 each, failing to reach the company's target of $18 to $20.
Even at the reduced price, the sale enriches a group of Albertsons' private owners, including Cerebrus Capital Management of New York and Philadelphia-based Lubert-Adler real estate funds. Shares will trade Friday on the New York Stock Exchange using the symbol ACI.
The sellers invested $100 million in Albertsons in 2006 and millions more in 2012 and 2014. A 30 percent jump in spring grocery sales thanks to the coronavirus pandemic has helped the company boost its cash and pay down debt, making it more attractive to investors, at least for now.
The $16 price will delay a hoped-for quick profit by Apollo Global Management ( APO
), the investment firm whose partners include billionaire Sixers managing partner Joshua Harris. Apollo paid the equivalent of $17.50 a share for a 10 percent stake in Albertsons just last month, betting the stock would soon be worth more.
Both Apollo Global and Lubert-Adler manage money for the Pennsylvania state workers' and teachers' pension systems (SERS and PSERS) and would share their Albertsons profits with the pensions, after taking multi-million-dollar fees and a slice of the profits.
Albertsons, whose stores include Jewel groceries in Chicago, Shaw's in Boston, Vonn's in California, and Safeways in several states, boosted wages by up to $4 an hour and added 40,000 jobs after the coronavirus shutdowns started in March. But Albertsons ended that temporary hazard pay June 20.
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