Kimco Realty

And if we could produce some income producing product with low leverage, like real estate, which we could buy very inexpensively, why now would be the time to do it.

And so between the period that started with Kimco, a shopping center REIT that's still around today.

Milton Cooper, the

grandfather.

[lips smack] Welcome back to The Reet Report.

Today we're looking at Kimco Realty Corporation, ticker symbol KIM.

Kimco is one of the biggest shopping center REITs in the United States, and its business is centered around open air, grocery anchored shopping centers.

Uh, overall, in plain English, if you wanna know what that is, this is, this is not a mall REIT.

Kimco looks more like a steady income and moderate growth REIT than a high upside compounder.

That is not a bad thing, but investors need to understand what they are buying.

So where do I land on Kimco Realty? I think Kimco is a solid shopping center REIT for sure, with a good portfolio, strong occupancy, healthy leasing demand, and a dividend that appears reasonably covered.

I like the grocery-anchored strategy because it gives the company a more defensive position within retail re-, uh, real estate.

We still see a few gems in the real estate sector.

Kimco Realty Corporation is on our buy list.

This is a REIT that specializes in the acquisition, development, and management of shopping centers.

The ticker is KIM.

There may be actual material differences that make it inferior.

I could see, like, a Kimco People having... cheaped out suspension

well what's what people designed to do i think they come with suspension that's completely up to snuff for what they're designed to do sometimes we have pretty big expectations of what these things should be doing especially decades on

yeah

So far, it's not.

I mean, whether you look at like a Simon or a Kimco, back to school is strong.

The consumer remains strong.

I mean, I think, you know, everyone loves to bet against the American consumer.

You know...

No, but all of these grocery anchor shopping center REITs, the Kimco's, the Regency's, the Bricksmore's, the Pico's of the world, Phillips Edison's, you know, they're always dealing with that.

Who do we backfill into this 20, 30, 40,000 foot space? So, you know, it's always going to be a concern, but we're not hearing those echoes right now versus what you might have heard in the mall space or some of these other sectors in the past couple of years.

Yeah.

Yes, it was early and it was, you know, risky to go ask.

Kimco was our partner.

Kimco the REIT had a subsidiary that was an equity investor.

And we had to ask them for, think about a million four, 24 years ago dollars, a million four for a public space, a place you could have built buildings, right? But it was interesting.

We showed them our plan.