Core Insights - Kimco Realty has acquired The Markets at Town Center, a 254,000-square-foot shopping center in Jacksonville, Florida, for $108 million, marking the first acquisition through its Structured Investment Program [1][2] - The acquisition is expected to enhance Kimco's portfolio and leverage its operating platform to unlock the full potential of the property [2] Acquisition Details - The Markets at Town Center is located in a prime shopping district with an affluent customer base, featuring a population of 192,000 and an average household income of $95,000 within a five-mile radius [3] - The property is 97% occupied and includes a diverse mix of tenants such as Sprouts Farmers Market, Costco Wholesale, Ulta Beauty, and Chipotle Mexican Grill, among others [4] - The center has significant mark-to-market opportunities due to below-market in-place leases, with several tenant leases set to expire in the coming years [4] Market Presence - With this acquisition, Kimco expands its presence in the Jacksonville market, which as of December 31, 2024, includes 6 properties totaling approximately 1.5 million square feet with an occupancy rate of 98.6% [5]

Core Viewpoint - Kimco Realty has acquired The Markets at Town Center in Jacksonville, Florida for $108 million, marking the first acquisition through its Structured Investment Program, which aims to strategically deploy mezzanine financing while securing rights on portfolio-enhancing assets [1][2] Acquisition Details - The Markets at Town Center is a 254,000-square-foot property located in a prime shopping district, adjacent to St. Johns Town Center, with an affluent customer base of approximately 192,000 people and an average household income of $95,000 within a five-mile radius [3] - The property is 97% occupied and features a diverse tenant mix, including Sprouts Farmers Market and Costco Wholesale, along with other national brands such as Ulta Beauty, Chipotle, and Nordstrom Rack [4] - The acquisition expands Kimco's presence in Jacksonville, which already includes six properties totaling about 1.5 million square feet with an occupancy rate of 98.6% as of December 31, 2024 [5] Strategic Program Insights - The Structured Investment Program is highlighted as a differentiator for Kimco, enabling above-average returns and the potential transition into equity ownership of high-quality properties [2] - The company previously provided $15 million in mezzanine financing for The Markets at Town Center, which was repaid at closing, showcasing the program's strategic deployment of capital [1]

Company Overview - Kimco Realty is a real estate investment trust (REIT) specializing in high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the US [2] - The company's portfolio is concentrated in first-ring suburbs of major metropolitan markets, including high-barrier coastal markets and Sun Belt cities [2] - Kimco Realty focuses on essential, necessity-based goods and services that drive frequent shopping trips [2] - As of September 30, 2024, the company owned interests in 567 US shopping centers and mixed-use assets comprising 101 million square feet of gross leasable space [2] Dividend Information - Kimco Realty announced the 2024 tax treatment of RPT Realty Series D Cumulative Convertible Preferred investor's dividend distributions [1] - The total distribution per share for the dividend record date of December 19, 2023, was $0.765280, with 100% classified as ordinary income [1] Investor Communication - The company communicates material information through its investor relations website, SEC filings, press releases, public conference calls, and webcasts [3] - Kimco Realty also uses social media platforms like Facebook, Twitter, and LinkedIn to engage with investors and the public [3] Contact Information - David F Bujnicki serves as the Senior Vice President of Investor Relations and Strategy at Kimco Realty Corporation [5][6] - Contact information includes phone number (833) 800-4343 and email dbujnicki@kimcorealtycom [6]

Dividend Distribution Details - Kimco Realty announced the 2024 tax treatment of RPT Realty Series D Cumulative Convertible Preferred investor's dividend distributions, with allocations reported on Form 1099-DIV [1] - The total distribution per share for the period ending December 19, 2023, was $0.76528, with 100% classified as ordinary income and 0% as capital gains [1] Company Overview - Kimco Realty is a leading REIT specializing in high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the US [2] - The company's portfolio is concentrated in first-ring suburbs of top metropolitan markets, including high-barrier coastal markets and Sun Belt cities [2] - As of September 30, 2024, Kimco Realty owned interests in 567 US shopping centers and mixed-use assets, totaling 101 million square feet of gross leasable space [2] Investor Communication Channels - Kimco Realty communicates material information to investors through its investor relations website, SEC filings, press releases, conference calls, and webcasts [3] - The company also uses social media platforms, including Facebook, Twitter, and LinkedIn, to share updates with investors and the public [3]

Group 1 - The focus has shifted towards higher-yielding investment options this year, indicating a trend in the market towards seeking better returns [3] - The article emphasizes the importance of dividend growth stocks while also highlighting the increasing interest in alternative income sources such as REITs, mREITs, and BDCs [3] Group 2 - The research platform offers in-depth analysis on various income alternatives, which includes a wide range of investment vehicles [1] - The platform has received 438 testimonials, with a majority rated 5 stars, suggesting a strong reputation among users [1]

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. While this article may sound like financial advice, please observe that the author is not a CFA or in ...

JERICHO, New York, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Kimco Realty® (NYSE:KIM) will announce its fourth quarter 2024 earnings on Friday, February 7, 2025, before market open. You are invited to listen to our quarterly earnings conference call. The webcast information is as follows: When: 8:30 AM ET, February 7, 2025 Live Webcast: 4Q24 Kimco Realty Earnings Conference Call or on Kimco Realty's website investors.kimcorealty.com Dial #: 1-888-317-6003 (International: 1-412-317-6061). Passcode: 0133276 Audio fro ...

JERICHO, N.Y., Dec. 13, 2024 (GLOBE NEWSWIRE) -- Kimco Realty Corporation (NYSE:KIM) (the "Company") today announced the final results of its tender offer to purchase for cash any and all of its outstanding depositary shares (each, a "Security," and collectively, the "Securities") representing 1/1,000 of a share of the Company's 7.25% Class N Cumulative Convertible Perpetual Preferred Stock, par value $1.00 per share (the "Class N Preferred Stock"), at a price per Security of $62.00, plus any accrued and un ...

Kimco Realty Corporation (NYSE: KIM ) is up 23% year-to-date on a total return basis with investors also recently treated to a dividend hike. The retail REIT last declared a quarterly cash dividend of $0.25 per shareThe equity market is a powerful mechanism as daily fluctuations in price get aggregated to incredible wealth creation or destruction over the long term. Pacifica Yield aims to pursue long-term wealth creation with a focus on undervalued yet high-growth companies, high-dividend tickers, REITs, an ...

JERICHO, N.Y., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Kimco Realty® (NYSE: KIM), a real estate investment trust (REIT) and a leading owner and operator of high-quality, open-air, grocery-anchored shopping centers, and mixed-use assets in the United States, today announced it has received Nareit’s 2024 Leader in the Light Award for Retail for the third consecutive year, marking the fifth time overall that the company has received this prestigious recognition for its sustainability initiatives. The Leader in the ...