Intrinsic value of Kimco Realty - KIM

Previous Close

$16.40

  Intrinsic Value

$2.43

stock screener

  Rating & Target

str. sell

-85%

Previous close

$16.40

 
Intrinsic value

$2.43

 
Up/down potential

-85%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as KIM.

We calculate the intrinsic value of KIM stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 7.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.60
  2.84
  3.06
  3.25
  3.43
  3.58
  3.72
  3.85
  3.97
  4.07
  4.16
  4.25
  4.32
  4.39
  4.45
  4.51
  4.56
  4.60
  4.64
  4.68
  4.71
  4.74
  4.76
  4.79
  4.81
  4.83
  4.84
  4.86
  4.87
  4.89
Revenue, $m
  1,232
  1,267
  1,306
  1,348
  1,395
  1,445
  1,498
  1,556
  1,618
  1,684
  1,754
  1,828
  1,907
  1,991
  2,080
  2,173
  2,272
  2,377
  2,487
  2,603
  2,726
  2,855
  2,991
  3,134
  3,285
  3,444
  3,610
  3,786
  3,970
  4,164
Variable operating expenses, $m
  915
  941
  969
  1,000
  1,033
  1,070
  1,109
  1,151
  1,196
  1,243
  1,276
  1,330
  1,388
  1,448
  1,513
  1,581
  1,653
  1,729
  1,809
  1,894
  1,983
  2,077
  2,176
  2,280
  2,390
  2,505
  2,627
  2,754
  2,889
  3,030
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  915
  941
  969
  1,000
  1,033
  1,070
  1,109
  1,151
  1,196
  1,243
  1,276
  1,330
  1,388
  1,448
  1,513
  1,581
  1,653
  1,729
  1,809
  1,894
  1,983
  2,077
  2,176
  2,280
  2,390
  2,505
  2,627
  2,754
  2,889
  3,030
Operating income, $m
  317
  327
  337
  349
  361
  375
  390
  405
  422
  440
  478
  498
  520
  543
  567
  592
  619
  648
  678
  709
  743
  778
  815
  854
  895
  938
  984
  1,032
  1,082
  1,135
EBITDA, $m
  1,533
  1,576
  1,624
  1,677
  1,734
  1,797
  1,863
  1,935
  2,012
  2,094
  2,181
  2,274
  2,372
  2,476
  2,586
  2,703
  2,826
  2,956
  3,093
  3,238
  3,390
  3,551
  3,720
  3,898
  4,085
  4,283
  4,490
  4,708
  4,938
  5,179
Interest expense (income), $m
  252
  191
  191
  191
  191
  191
  191
  191
  191
  191
  191
  191
  191
  191
  191
  192
  192
  192
  192
  192
  192
  192
  192
  192
  192
  192
  192
  192
  192
  192
  192
Earnings before tax, $m
  126
  135
  146
  158
  170
  184
  198
  214
  231
  249
  286
  307
  328
  351
  375
  401
  428
  456
  486
  518
  551
  586
  623
  662
  703
  746
  792
  840
  890
  943
Tax expense, $m
  34
  37
  39
  43
  46
  50
  54
  58
  62
  67
  77
  83
  89
  95
  101
  108
  115
  123
  131
  140
  149
  158
  168
  179
  190
  202
  214
  227
  240
  255
Net income, $m
  92
  99
  107
  115
  124
  134
  145
  156
  169
  182
  209
  224
  240
  256
  274
  292
  312
  333
  355
  378
  402
  428
  455
  483
  513
  545
  578
  613
  650
  688

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  -781
  -804
  -828
  -855
  -884
  -916
  -950
  -987
  -1,026
  -1,068
  -1,112
  -1,159
  -1,209
  -1,262
  -1,319
  -1,378
  -1,441
  -1,507
  -1,577
  -1,651
  -1,729
  -1,810
  -1,897
  -1,987
  -2,083
  -2,184
  -2,289
  -2,401
  -2,518
  -2,641
Adjusted assets (=assets-cash), $m
  -781
  -804
  -828
  -855
  -884
  -916
  -950
  -987
  -1,026
  -1,068
  -1,112
  -1,159
  -1,209
  -1,262
  -1,319
  -1,378
  -1,441
  -1,507
  -1,577
  -1,651
  -1,729
  -1,810
  -1,897
  -1,987
  -2,083
  -2,184
  -2,289
  -2,401
  -2,518
  -2,641
Revenue / Adjusted assets
  -1.577
  -1.576
  -1.577
  -1.577
  -1.578
  -1.578
  -1.577
  -1.576
  -1.577
  -1.577
  -1.577
  -1.577
  -1.577
  -1.578
  -1.577
  -1.577
  -1.577
  -1.577
  -1.577
  -1.577
  -1.577
  -1.577
  -1.577
  -1.577
  -1.577
  -1.577
  -1.577
  -1.577
  -1.577
  -1.577
Average production assets, $m
  11,967
  12,307
  12,683
  13,096
  13,544
  14,029
  14,552
  15,113
  15,712
  16,352
  17,032
  17,756
  18,523
  19,336
  20,197
  21,107
  22,068
  23,083
  24,154
  25,284
  26,474
  27,729
  29,049
  30,440
  31,904
  33,444
  35,064
  36,769
  38,561
  40,445
Working capital, $m
  -6,388
  -6,569
  -6,770
  -6,990
  -7,230
  -7,489
  -7,767
  -8,067
  -8,387
  -8,728
  -9,091
  -9,477
  -9,887
  -10,321
  -10,781
  -11,266
  -11,779
  -12,321
  -12,893
  -13,496
  -14,131
  -14,801
  -15,506
  -16,248
  -17,029
  -17,852
  -18,716
  -19,626
  -20,583
  -21,589
Total debt, $m
  716
  716
  716
  716
  716
  717
  717
  717
  717
  717
  717
  717
  717
  717
  717
  717
  718
  718
  718
  718
  718
  718
  719
  719
  719
  719
  719
  720
  720
  720
Total liabilities, $m
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  5
  5
  5
  5
Total equity, $m
  -783
  -805
  -830
  -857
  -886
  -918
  -952
  -989
  -1,028
  -1,070
  -1,114
  -1,162
  -1,212
  -1,265
  -1,321
  -1,381
  -1,444
  -1,510
  -1,580
  -1,654
  -1,732
  -1,814
  -1,900
  -1,991
  -2,087
  -2,188
  -2,294
  -2,405
  -2,523
  -2,646
Total liabilities and equity, $m
  -781
  -803
  -828
  -855
  -884
  -916
  -950
  -987
  -1,026
  -1,068
  -1,112
  -1,160
  -1,210
  -1,262
  -1,318
  -1,378
  -1,441
  -1,507
  -1,577
  -1,651
  -1,729
  -1,810
  -1,896
  -1,987
  -2,083
  -2,184
  -2,289
  -2,400
  -2,518
  -2,641
Debt-to-equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Adjusted equity ratio
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002
  1.002

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  92
  99
  107
  115
  124
  134
  145
  156
  169
  182
  209
  224
  240
  256
  274
  292
  312
  333
  355
  378
  402
  428
  455
  483
  513
  545
  578
  613
  650
  688
Depreciation, amort., depletion, $m
  1,215
  1,249
  1,287
  1,328
  1,373
  1,422
  1,474
  1,530
  1,590
  1,654
  1,703
  1,776
  1,852
  1,934
  2,020
  2,111
  2,207
  2,308
  2,415
  2,528
  2,647
  2,773
  2,905
  3,044
  3,190
  3,344
  3,506
  3,677
  3,856
  4,045
Funds from operations, $m
  1,307
  1,348
  1,394
  1,443
  1,497
  1,556
  1,619
  1,686
  1,758
  1,835
  1,912
  1,999
  2,092
  2,190
  2,294
  2,403
  2,519
  2,641
  2,770
  2,906
  3,050
  3,201
  3,360
  3,527
  3,704
  3,889
  4,084
  4,290
  4,506
  4,733
Change in working capital, $m
  -162
  -181
  -201
  -220
  -239
  -259
  -279
  -299
  -320
  -341
  -363
  -386
  -410
  -434
  -459
  -486
  -513
  -542
  -572
  -603
  -635
  -669
  -705
  -742
  -781
  -822
  -865
  -910
  -957
  -1,006
Cash from operations, $m
  1,469
  1,530
  1,594
  1,663
  1,737
  1,815
  1,898
  1,985
  2,078
  2,177
  2,276
  2,386
  2,502
  2,624
  2,753
  2,889
  3,032
  3,183
  3,342
  3,509
  3,685
  3,870
  4,065
  4,270
  4,485
  4,711
  4,949
  5,199
  5,462
  5,739
Maintenance CAPEX, $m
  -1,166
  -1,197
  -1,231
  -1,268
  -1,310
  -1,354
  -1,403
  -1,455
  -1,511
  -1,571
  -1,635
  -1,703
  -1,776
  -1,852
  -1,934
  -2,020
  -2,111
  -2,207
  -2,308
  -2,415
  -2,528
  -2,647
  -2,773
  -2,905
  -3,044
  -3,190
  -3,344
  -3,506
  -3,677
  -3,856
New CAPEX, $m
  -304
  -340
  -376
  -412
  -449
  -485
  -523
  -561
  -599
  -640
  -681
  -723
  -767
  -813
  -861
  -910
  -961
  -1,015
  -1,071
  -1,129
  -1,190
  -1,254
  -1,321
  -1,391
  -1,464
  -1,540
  -1,620
  -1,704
  -1,792
  -1,884
Cash from investing activities, $m
  -1,470
  -1,537
  -1,607
  -1,680
  -1,759
  -1,839
  -1,926
  -2,016
  -2,110
  -2,211
  -2,316
  -2,426
  -2,543
  -2,665
  -2,795
  -2,930
  -3,072
  -3,222
  -3,379
  -3,544
  -3,718
  -3,901
  -4,094
  -4,296
  -4,508
  -4,730
  -4,964
  -5,210
  -5,469
  -5,740
Free cash flow, $m
  -2
  -7
  -13
  -17
  -21
  -25
  -28
  -30
  -32
  -34
  -40
  -41
  -41
  -42
  -41
  -41
  -40
  -39
  -37
  -36
  -34
  -31
  -29
  -26
  -23
  -19
  -15
  -11
  -7
  -2
Issuance/(repayment) of debt, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Issuance/(repurchase) of shares, $m
  -20
  -22
  -25
  -27
  -29
  -32
  -34
  -37
  -39
  -42
  -45
  -47
  -50
  -53
  -56
  -60
  -63
  -66
  -70
  -74
  -78
  -82
  -86
  -91
  -96
  -101
  -106
  -111
  -117
  -123
Cash from financing (excl. dividends), $m  
  -20
  -22
  -25
  -27
  -29
  -32
  -34
  -37
  -39
  -42
  -45
  -47
  -50
  -53
  -56
  -60
  -63
  -66
  -70
  -74
  -78
  -82
  -86
  -91
  -96
  -101
  -106
  -111
  -117
  -123
Total cash flow (excl. dividends), $m
  -22
  -29
  -37
  -44
  -51
  -57
  -62
  -67
  -72
  -76
  -85
  -88
  -92
  -95
  -98
  -100
  -103
  -105
  -107
  -109
  -111
  -113
  -115
  -117
  -118
  -120
  -121
  -123
  -124
  -125
Retained Cash Flow (-), $m
  20
  22
  25
  27
  29
  32
  34
  37
  39
  42
  45
  47
  50
  53
  56
  60
  63
  66
  70
  74
  78
  82
  86
  91
  96
  101
  106
  111
  117
  123
Prev. year cash balance distribution, $m
  763
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  22
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  761
  22
  25
  27
  29
  32
  34
  37
  39
  42
  45
  47
  50
  53
  56
  60
  63
  66
  70
  74
  78
  82
  86
  91
  96
  101
  106
  111
  117
  123
Discount rate, %
  5.60
  5.88
  6.17
  6.48
  6.81
  7.15
  7.50
  7.88
  8.27
  8.69
  9.12
  9.58
  10.06
  10.56
  11.09
  11.64
  12.22
  12.84
  13.48
  14.15
  14.86
  15.60
  16.38
  17.20
  18.06
  18.96
  19.91
  20.91
  21.95
  23.05
PV of cash for distribution, $m
  721
  20
  21
  21
  21
  21
  21
  20
  19
  18
  17
  16
  14
  13
  12
  10
  9
  8
  6
  5
  4
  3
  3
  2
  2
  1
  1
  1
  0
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada. As of March 31, 2017, the Company had 380 other property interests, primarily through the Company's preferred equity investments and other real estate investments, totaling 5.8 million square feet of GLA.

FINANCIAL RATIOS  of  Kimco Realty (KIM)

Valuation Ratios
P/E Ratio 18.4
Price to Sales 6
Price to Book 1.3
Price to Tangible Book
Price to Cash Flow 11.8
Price to Free Cash Flow 57.6
Growth Rates
Sales Growth Rate 0.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -45.3%
Cap. Spend. - 3 Yr. Gr. Rate 0.4%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 96.4%
Total Debt to Equity 96.4%
Interest Coverage 1
Management Effectiveness
Return On Assets 3.2%
Ret/ On Assets - 3 Yr. Avg. 6.3%
Return On Total Capital 3.7%
Ret/ On T. Cap. - 3 Yr. Avg. 5.8%
Return On Equity 7.4%
Return On Equity - 3 Yr. Avg. 11.5%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 74.5%
Gross Margin - 3 Yr. Avg. 74.1%
EBITDA Margin 57.6%
EBITDA Margin - 3 Yr. Avg. 60.1%
Operating Margin 21.8%
Oper. Margin - 3 Yr. Avg. 27.5%
Pre-Tax Margin 5.8%
Pre-Tax Margin - 3 Yr. Avg. 10.2%
Net Profit Margin 32.4%
Net Profit Margin - 3 Yr. Avg. 50.5%
Effective Tax Rate 107.4%
Eff/ Tax Rate - 3 Yr. Avg. 54.8%
Payout Ratio 125.1%

KIM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the KIM stock intrinsic value calculation we used $1201 million for the last fiscal year's total revenue generated by Kimco Realty. The default revenue input number comes from 2017 income statement of Kimco Realty. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our KIM stock valuation model: a) initial revenue growth rate of 2.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.6%, whose default value for KIM is calculated based on our internal credit rating of Kimco Realty, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Kimco Realty.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of KIM stock the variable cost ratio is equal to 74.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for KIM stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 26.7% for Kimco Realty.

Corporate tax rate of 27% is the nominal tax rate for Kimco Realty. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the KIM stock is equal to 1.8%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for KIM are equal to 971.2%.

Life of production assets of 10 years is the average useful life of capital assets used in Kimco Realty operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for KIM is equal to -518.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for Kimco Realty - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 424 million for Kimco Realty is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Kimco Realty at the current share price and the inputted number of shares is $7.0 billion.

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WMT Walmart 90.85 68.29  sell

COMPANY NEWS

▶ [$$] Big REIT Kimco Poised for 32% Pop   [Jul-31-18 01:34PM  Barrons.com]
▶ Kimco Realty: 2Q Earnings Snapshot   [08:02AM  Associated Press]
▶ Kimco Realty Promotes Two Senior Leaders   [08:00AM  Business Wire]
▶ Dania Pointe to break ground on second phase   [Jul-11-18 01:08PM  American City Business Journals]
▶ Kimco Realty Is Showing Enough Positive Signals to Go Long   [Jul-09-18 10:59AM  TheStreet.com]
▶ [$$] Hobby Lobby, Burlington Expected to Move Into Empty Toys R Us Stores   [Jul-05-18 08:41PM  The Wall Street Journal]
▶ [$$] Hobby Lobby Among Retailers Set to Fill Void Left by Toys "R" Us   [Jul-03-18 01:54PM  The Wall Street Journal]
▶ 2 Embarrassingly Cheap Dividend Stocks   [Jun-21-18 06:31AM  Motley Fool]
▶ Kimco Realty Releases 2017 Corporate Responsibility Report   [Jun-19-18 08:01AM  Business Wire]
▶ Marshalls, Five Below among new leases at former Owings Mills Mall site   [May-30-18 08:38AM  American City Business Journals]
▶ Put REITs In Retirement   [May-14-18 07:00AM  Forbes]
▶ Developer behind massive Pr. George's project nears deal for supermarket anchor   [May-11-18 08:09AM  American City Business Journals]
▶ Crystal City BID weighing expansion into neighboring Arlington markets as HQ2 looms   [May-09-18 02:40PM  American City Business Journals]
▶ JCPenney closing Home store in Peoria this summer   [01:43PM  American City Business Journals]
▶ Cohen & Steers Announces Changes to Realty Indexes   [May-04-18 05:00PM  PR Newswire]
▶ 7 REITs Yielding Over 7%   [09:00AM  Forbes]
▶ Kimco takes on phase three at Suburban Square on the Main Line   [May-02-18 02:58PM  American City Business Journals]
▶ Is It Time To Buy Kimco Realty Corporation (NYSE:KIM)?   [Apr-27-18 01:14PM  Simply Wall St.]
▶ Benchmark's Kelly Has an Options Play for Kimco Realty   [Apr-26-18 04:03PM  Bloomberg Video]
▶ Kimco Realty: 1Q Earnings Snapshot   [09:56AM  Associated Press]
▶ 3 Retail REITs Buffett Should Buy   [Apr-23-18 07:00AM  Forbes]
▶ Major changes are in store for another mall in the Puget Sound region   [Apr-17-18 05:21PM  American City Business Journals]
▶ 10 Highest Dividend Yielding Stocks   [Apr-12-18 06:32AM  Motley Fool]
▶ Longtime Raku chef and his sister opening their own sushi bar   [02:16PM  American City Business Journals]
▶ Two Underappreciated REITs   [11:44AM  Forbes]
▶ Kimco Realty reports 4Q results   [07:52AM  Associated Press]
▶ Kimco Realty Is Still In a Bear Trend   [Feb-13-18 08:53AM  TheStreet.com]
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