Kimco Realty Corp Stock Research

KIM Alerts

1 major insider sales recently.
Big fall in earnings (Y/Y)
Losses in recent quarter

KIM Stock Price

KIM RSI Chart

KIM Valuation

Market Cap

13.2B

Price/Earnings (Trailing)

104.43

Price/Sales (Trailing)

7.61

EV/EBITDA

16.76

Price/Free Cashflow

15.28

KIM Price/Sales (Trailing)

KIM Profitability

EBT Margin

2.56%

Return on Equity

1.32%

Return on Assets

0.71%

Free Cashflow Yield

6.55%

KIM Fundamentals

KIM Revenue

Revenue (TTM)

1.7B

Revenue Y/Y

3.57%

Revenue Q/Q

1.48%

KIM Earnings

Earnings (TTM)

126.0M

Earnings Y/Y

-160.94%

Earnings Q/Q

-185.89%

Price Action

Last 7 days

-0.9%

Last 30 days

-4.1%

Last 90 days

-17.0%

Trailing 12 Months

-25.8%

KIM Financial Health

Debt/Equity

0.72

Debt/Cashflow

0.11

KIM Investor Care

Dividend Yield

3.69%

Dividend/Share (TTM)

0.78

Shares Dilution (1Y)

0.30%

Peers (Alternatives to Kimco Realty)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
PSA	50.2B	4.2B	-1.95%	-19.53%	11.55	12.01	22.43%	122.66%
DLR	27.5B	4.7B	-11.51%	-30.78%	72.75	5.86	5.96%	-77.90%
EQR	21.2B	2.7B	-12.90%	-34.85%	27.27	7.81	11.91%	-41.71%
ARE	20.5B	2.6B	-23.09%	-36.12%	39.23	7.91	22.46%	-8.68%
KIM	13.2B	1.7B	-4.07%	-25.83%	104.43	7.61	26.61%	-85.07%
MID-CAP
FRT	7.5B	1.1B	-12.78%	-19.56%	19.52	7	12.95%	47.42%
KRG	4.3B	802.0M	-9.18%	-8.49%	-338.08	5.33	114.83%	84.36%
VNO	2.6B	1.8B	-34.87%	-68.35%	-7.52	1.45	13.26%	-296.88%
MAC	2.0B	859.2M	-22.66%	-32.73%	-30.92	2.38	1.38%	-563.21%
SMALL-CAP
SKT	2.0B	421.4M	1.35%	15.46%	23.02	4.64	3.35%	1705.32%
SLG	1.3B	826.7M	-42.91%	-73.34%	-17.18	1.62	-2.04%	-117.36%
AIV	1.0B	190.3M	-3.26%	-2.73%	11.34	5.49	12.08%	1950.56%
PGRE	909.5M	740.4M	-23.50%	-61.25%	-24.99	1.23	1.87%	-78.85%

Financials for Kimco Realty

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	0.9%	1,728	1,713	1,648	1,510	1,365
Operating Expenses	0.0%	1,177	1,177	1,178	1,071	971
S&GA Expenses	2.5%	120	117	113	110	104
EBITDA	-6.2%	776	827	1,281	1,495	-
EBITDA Margin	-7.0%	0.45*	0.48*	0.78*	0.99*	-
Earnings Before Taxes	-50.7%	44.00	90.00	556	831	745
EBT Margin	-51.1%	0.03*	0.05*	0.34*	0.55*	-
Interest Expenses	1.6%	227	223	223	213	204
Net Income	-51.1%	126	257	707	943	844
Net Income Margin	-51.5%	0.07*	0.15*	0.43*	0.62*	-
Free Cahsflow	-5.1%	861	907	768	665	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-0.5%	17,826	17,916	18,198	18,544	18,459
Cash Equivalents	21.3%	150	124	297	370	335
Liabilities	0.3%	8,086	8,062	8,213	8,315	8,336
Long Term Debt	-	7,027	-	-	-	-
Shareholder's Equity	-1.9%	9,516	9,703	9,972	10,215	9,899
Retained Earnings	-251.7%	-119	79.00	163	413	299
Additional Paid-In Capital	0.1%	9,618	9,611	9,605	9,590	9,592
Shares Outstanding	0.0%	618	618	618	618	617
Minority Interest	-3.9%	131	137	191	204	211

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-5.1%	861	907	768	665	619
Share Based Compensation	5.0%	27.00	25.00	25.00	24.00	23.00
Cashflow From Investing	81.3%	-63.22	-338	-585	-427	-476
Cashflow From Financing	-5.8%	-982	-929	-115	-120	-101
Dividend Payments	7.4%	545	507	476	426	382
Buy Backs	-	14.00	-	-	-	-

Risks for KIM

What is the probability of a big loss on KIM?

55%

Probability that Kimco Realty stock will be more than 20% underwater in next one year

37.3%

Probability that Kimco Realty stock will be more than 30% underwater in next one year.

19.2%

Probability that Kimco Realty stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does KIM drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Kimco Realty was unfortunately bought at previous high price.

Drawdowns

Returns for KIM

Cumulative Returns on KIM

2.1%

10-Year Cumulative Returns

-1.9%

7-Year Cumulative Returns

9.6%

5-Year Cumulative Returns

27.4%

3-Year Cumulative Returns

What are the long-term rolling returns for KIM?

FIve years rolling returns for Kimco Realty.

Annualized Returns

Which funds bought or sold KIM recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	new	-	207,282	207,282	0.01%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	38.57	2,528,840	6,785,840	0.01%
2023-03-10	MATHER GROUP, LLC.	sold off	-100	-239,000	-	-%
2023-03-07	Great Lakes Retirement, Inc.	new	-	504,493	504,493	0.13%
2023-03-06	Rockefeller Capital Management L.P.	added	0.5	10,000	76,000	-%
2023-03-02	LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA	new	-	48,736	48,736	-%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	unchanged	-	572	1,572	-%
2023-02-28	Voya Investment Management LLC	added	2.79	712,257	4,618,260	0.01%
2023-02-27	Parallax Volatility Advisers, L.P.	reduced	-79.45	-63,345	19,655	-%
2023-02-24	NATIXIS	added	90.04	832,072	1,533,070	0.01%

Latest Funds Activity

Are funds buying KIM calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own KIM

No. of Funds

Kimco Realty News

Schedule 13G FIlings of Kimco Realty

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	cohen & steers, inc.	5.50%	34,003,126	SC 13G/A
Feb 09, 2023	vanguard group inc	16.50%	102,073,750	SC 13G/A
Feb 06, 2023	state street corp	7.32%	45,291,716	SC 13G/A
Jan 24, 2023	blackrock inc.	9.8%	60,684,989	SC 13G/A
Feb 14, 2022	cohen & steers, inc.	7.37%	45,452,882	SC 13G
Feb 11, 2022	state street corp	6.02%	37,097,499	SC 13G/A
Feb 10, 2022	vanguard group inc	15.81%	97,456,430	SC 13G/A
Feb 01, 2022	blackrock inc.	8.9%	55,140,654	SC 13G/A
Jan 19, 2022	apg asset management us inc.	2.6%	16,174,700	SC 13G/A
Jan 12, 2022	jpmorgan chase & co	6.0%	37,266,738	SC 13G/A

KIM Fair Value

Kimco Realty fair value in different scenarios

The table shows the Fair Value estimates for Kimco Realty for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	13.15 -	14.95 -	17.46 -	27.56 -	36.10 -
Current Inflation	12.61 -	14.25 -	16.52 -	24.83 -	32.07 -
Very High Inflation	11.91 -	13.36 -	15.33 -	21.61 -	27.39 -

Historical Kimco Realty Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Kimco Realty

View All Filings

Date Filed	Form Type	Document
Mar 15, 2023	ARS	ARS
Mar 15, 2023	DEF 14A	DEF 14A
Mar 15, 2023	DEFA14A	DEFA14A
Mar 01, 2023	4	Insider Trading
Feb 24, 2023	10-K	Annual Report
Feb 17, 2023	4	Insider Trading
Feb 17, 2023	4	Insider Trading
Feb 17, 2023	4	Insider Trading
Feb 17, 2023	4	Insider Trading
Feb 17, 2023	4	Insider Trading

Latest Insider Trading transactions for KIM

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-02-28	LOURENSO FRANK	sold	-199,351	20.701	-9,630	-
2023-02-16	COVIELLO PHILIP E JR	acquired	-	-	8,220	-
2023-02-16	SALTZMAN RICHARD B	acquired	-	-	8,220	-
2023-02-16	Cooper Ross	acquired	-	-	194,057	president
2023-02-16	Jamieson David	acquired	-	-	194,057	chief operating officer
2023-02-16	COHEN GLENN GARY	sold (taxes)	-1,293,310	21.3	-60,719	exec vp, cfo & treasurer
2023-02-16	COHEN GLENN GARY	acquired	-	-	147,107	exec vp, cfo & treasurer
2023-02-16	Flynn Conor C	acquired	-	-	477,587	chief executive officer
2023-02-16	Moniz Henry	acquired	-	-	8,220	-
2023-02-16	COOPER MILTON	acquired	-	-	223,070	executive chairman

About Kimco Realty

Conor C. Flynn

www.kimcorealty.com

610

Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is one of North America's largest publicly traded owners and operators of open-air, grocery-anchored shopping centers and mixed-use assets. As of September 30, 2020, the company owned interests in 400 U.S. shopping centers and mixed-use assets comprising 70 million square feet of gross leasable space primarily concentrated in the top major metropolitan markets. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 60 years.

KIM Income Statement

2022-12-31

Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Revenues

Revenues from rental properties, net

$ 1,710,848

$ 1,349,702

$ 1,044,888

Management and other fee income

16,836

14,883

13,005

Total revenues

1,727,684

1,364,585

1,057,893

Operating expenses

Rent

(15,811)

(13,773)

(11,270)

Real estate taxes

(224,729)

(181,256)

(157,661)

Operating and maintenance

(290,367)

(222,882)

(174,038)

General and administrative

(119,534)

(104,121)

(93,217)

Impairment charges

(21,958)

(3,597)

(6,624)

Merger charges

(50,191)

Depreciation and amortization

(505,000)

(395,320)

(288,955)

Total operating expenses

(1,177,399)

(971,140)

(731,765)

Gain on sale of properties

15,179

30,841

6,484

Operating income

565,464

424,286

332,612

Other income/(expense)

Other income, net

28,829

19,810

4,119

(Loss)/gain on marketable securities, net

(315,508)

505,163

594,753

Gain on sale of cost method investment

190,832

Interest expense

(226,823)

(204,133)

(186,904)

Early extinguishment of debt charges

(7,658)

(7,538)

Income before income taxes, net, equity in income of joint ventures, net, and equity in income from other investments, net

44,304

745,126

927,874

Provision for income taxes, net

(56,654)

(3,380)

(978)

Net income

114,534

849,696

1,002,877

Net loss/(income) attributable to noncontrolling interests

11,442

(5,637)

(2,044)

Net income attributable to the Company

125,976

844,059

1,000,833

Preferred dividends

(25,218)

(25,416)

Net income available to the Company's common shareholders

$ 100,758

$ 818,643

$ 975,417

Per common share:

-Basic (in dollars per share)

$ 0.16

$ 1.61

$ 2.26

-Diluted (in dollars per share)

$ 0.16

$ 1.60

$ 2.25

Weighted average shares:

-Basic (in shares)

615,528

506,248

429,950

-Diluted (in shares)

^[1]

617,858

511,385

431,633

Joint Ventures [Member]

Other income/(expense)

Equity in income, net

$ 109,481

$ 84,778

$ 47,353

Other Real Estate Investments [Member]

Other income/(expense)

Equity in income, net

$ 17,403

$ 23,172

$ 28,628

[1]

The effect of the assumed conversion of certain convertible units had an anti-dilutive effect upon the calculation of Net income available to the Company's common shareholders per share. Accordingly, the impact of such conversions has not been included in the determination of diluted earnings per share calculations. Additionally, there were 0.3 million, 0 million and 1.2 million stock options that were not dilutive as of December 31, 2022, 2021 and 2020, respectively.

KIM Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Assets:

Land

$ 4,124,542

$ 3,984,447

Building and improvements

14,332,700

14,067,824

Real estate

18,457,242

18,052,271

Less: accumulated depreciation and amortization

^[1]

(3,417,414)

(3,010,699)

Total real estate, net

15,039,828

15,041,572

Investments in and advances to real estate joint ventures

1,100,000

1,000,000

Cash and cash equivalents

149,829

334,663

Marketable securities

597,732

1,211,739

Accounts and notes receivable, net

304,226

254,677

Deferred charges and prepaid expenses

147,863

144,461

Operating lease right-of-use assets, net

133,733

147,458

Other assets

253,779

195,715

Total assets

^[2]

17,826,122

18,459,199

Liabilities:

Notes payable, net

6,780,969

7,027,050

Mortgages payable, net

376,917

448,652

Accounts payable and accrued expenses

207,815

220,308

Dividends payable

5,326

5,366

Operating lease liabilities

113,679

^[3]

123,779

Other liabilities

601,574

510,382

Total liabilities

^[4]

8,086,280

8,335,537

Redeemable noncontrolling interests

92,933

13,480

Commitments and contingencies (Footnote 22)

Stockholders' equity:

Preferred stock, $1.00 par value, authorized 7,054,000 shares; issued and outstanding (in series) 19,435 and 19,580 shares, respectively; aggregate liquidation preference $485,868 and $489,500, respectively

Common stock, $.01 par value, authorized 750,000,000 shares; issued and outstanding 618,483,565 and 616,658,593 shares, respectively

6,185

6,167

Paid-in capital

9,618,271

9,591,871

Retained earnings

(119,548)

299,115

Accumulated other comprehensive income

10,581

2,216

Total stockholders' equity

9,515,508

9,899,389

Noncontrolling interests

131,401

210,793

Total equity

9,646,909

10,110,182

Total liabilities and equity

17,826,122

18,459,199

Investments in and Advances to Real Estate Joint Ventures [Member]

Assets:

Investments in and advances to real estate joint ventures

1,091,551

1,006,899

Other Real Estate Investments [Member]

Assets:

Other investments

$ 107,581

$ 122,015

[1]	At December 31, 2022 and 2021, the Company had accumulated amortization relating to in-place leases and above-market leases aggregating $671,794 and $569,648, respectively.
[2]	Includes restricted assets of consolidated variable interest entities (“VIEs”) at September 30, 2022 and December 31, 2021 of $88,949 and $227,858, respectively. See Footnote 13 of the Notes to Condensed Consolidated Financial Statements.
[3]	Operating lease liabilities are included in Operating lease liabilities and financing lease liabilities are included in Other liabilities on the Company's Consolidated Balance Sheets.
[4]	Includes non-recourse liabilities of consolidated VIEs at September 30, 2022 and December 31, 2021 of $100,291 and $153,924, respectively. See Footnote 13 of the Notes to Condensed Consolidated Financial Statements.