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{{Short description|Real estate investment trust}}
{{Infobox company
{{Infobox company
| name = Kimco Realty Corporation
| name = Kimco Realty Corporation
| logo = Kimco_color_widen header-01.jpg
| logo = Kimco_color_widen header-01.jpg
| logo_size = 220px
| logo_size =
| type = [[Public company]]
| type = [[Public company]]
| traded_as = {{New York Stock Exchange|KIM}}<br>[[S&P 500 Index]] component
| traded_as = {{New York Stock Exchange|KIM}}<br>[[S&P 500]] component
| industry = [[Real estate investment trust]]
| industry = [[Real estate investment trust]]
| foundation = {{Start date and age|1958}}
| foundation = {{Start date and age|1958}}
| founders = Milton Cooper<BR>Martin Kimmel
| founders = Milton Cooper<br>[[Martin Kimmel]]
| location = [[Jericho, New York]]
| location = [[Jericho, New York]]
| area_served = [[Contiguous United States]] and [[Puerto Rico]]
| key_people = Milton Cooper, [[Chairman]]<BR>Conor C. Flynn, [[CEO]] Glenn G. Cohen, [[CFO]]
| key_people = Milton Cooper, [[Chairman]]<br>Conor C. Flynn, [[CEO]]<br>Glenn G. Cohen, [[CFO]]
⚫
| revenue = {{decrease}} $1.158 billion (2019)
| net_income = {{decrease}} $410 million (2019)
| revenue = {{decrease}} $1.044 billion (2020)
| assets = {{decrease}} $10.997 billion (2019)
| net_income = {{increase}} $975 million (2020)
| equity = {{decrease}} $4.928 billion (2019)
| assets = {{increase}} $11.614 billion (2020)
⚫
| equity = {{increase}} $5.608 billion (2020)
⚫
| homepage = {{URL|https://www.kimcorealty.com/}}
| num_employees = 484 (2020)
⚫
| footnotes = <ref name=10K>{{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/879101/000143774920003500/kim20191231_10k.htm | title=Kimco Realty Corporation 2019 Form 10-K Annual Report | publisher=[[U.S. Securities and Exchange Commission]]}}</ref>
⚫
| homepage = {{URL|https://www.kimcorealty.com/}}
⚫
| footnotes = <ref name=10K>{{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/879101/000143774921003766/kim20201231_10k.htm | title=Kimco Realty Corporation 2020 Form 10-K Annual Report | publisher=[[U.S. Securities and Exchange Commission]]}}</ref>
}}
}}


'''Kimco Realty Corporation''' is a [[real estate investment trust]] (REIT) that invests in [[shopping centers]]. As of December 31, 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.<ref name=10K/>
'''Kimco Realty Corporation''' is a [[Jericho, New York]]-based [[real estate investment trust]] that invests in [[shopping centers]].


== Description ==
Kimco Realty was the first public [[vertically integrated]] REIT designed to be internally managed and advised, providing its own property and asset management.<ref name="Brueggeman">{{cite book | last=Brueggeman | first=William | title=Real estate finance and investments | publisher=McGraw-Hill Education | publication-place=New York, NY | year=2016 | isbn=978-0-07-337735-3 | oclc=908192655 | page=}}</ref>
Kimco Realty was the first public, [[vertically integrated]] REIT designed to be internally managed and advised, providing its own property and asset management.<ref name="Brueggeman">{{cite book |last=Brueggeman |first=William |title=Real estate finance and investments |publisher=McGraw-Hill Education |year=2016 |isbn=978-0-07-337735-3 |publication-place=New York, NY |page= |oclc=908192655}}</ref>

As of March 31, 2022, the company owned interests in 537 U.S. shopping centers and mixed-use assets comprising 93 million square feet of gross leasable space.<ref name="10K" />

The company also specializes in shopping center ownership, management, acquisitions, and value enhancing redevelopment activities for more than 60 years. As of September 30, 2022, the company owned interests in 526 U.S. shopping centers and mixed-use assets comprising 91 million square feet of gross leasable space. By May 2024, the number of shopping centers which the company owned interest in rose to 502.<ref>{{Cite web |title=Kimco Properties |url=https://www.kimcorealty.com/properties |access-date=2024-05-13 |website=Kimco Realty |language=en}}</ref>


==History==
==History==
Kimco Realty Corporation was founded in 1966 by a group of real estate investors, including [[Martin Kimmel]] and Milton Cooper, who merged their retail assets, thus the company's name of '''Kim'''-'''co'''.
Kimco Realty Corporation was founded in 1966 by a group of real estate investors, including [[Martin Kimmel]] and Milton Cooper, who merged their retail assets. This asset merger led to the new company being named '''Kim'''-'''co'''.


In 1991, the company became a [[public company]] via an [[initial public offering]], raising $120 million.<ref>{{cite news | url=https://www.forbes.com/forbes/2008/0310/062.html | title=Beyond The Big Box | first=Dorothy | last=Pomerantz | work=[[Forbes]] | date=March 10, 2008}}</ref>
In 1991, the company became a [[public company]] via an [[initial public offering]], raising $120 million.<ref>{{cite news | url=https://www.forbes.com/forbes/2008/0310/062.html | title=Beyond The Big Box | first=Dorothy | last=Pomerantz | work=[[Forbes]] | date=March 10, 2008}}</ref>
Line 31: Line 39:
In October 2003, the company acquired Mid-Atlantic Realty Trust for $441 million.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20031001005854/en/Kimco-Realty-Corporation-Completes-Acquisition-Mid-Atlantic-Realty | title=Kimco Realty Corporation Completes Acquisition of Mid-Atlantic Realty Trust | publisher=[[Business Wire]] | date=October 1, 2003}}</ref><ref>{{cite news | url=https://www.nytimes.com/2003/06/19/business/company-news-kimco-to-buy-mid-atlantic-realty-trust-for-444-million.html | title=Kimco to Buy Mid-Atlantic Realty Trust for $444 Million | agency=[[Bloomberg news]] | work=[[The New York Times]] | date=June 19, 2003 | url-access=subscription}}</ref>
In October 2003, the company acquired Mid-Atlantic Realty Trust for $441 million.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20031001005854/en/Kimco-Realty-Corporation-Completes-Acquisition-Mid-Atlantic-Realty | title=Kimco Realty Corporation Completes Acquisition of Mid-Atlantic Realty Trust | publisher=[[Business Wire]] | date=October 1, 2003}}</ref><ref>{{cite news | url=https://www.nytimes.com/2003/06/19/business/company-news-kimco-to-buy-mid-atlantic-realty-trust-for-444-million.html | title=Kimco to Buy Mid-Atlantic Realty Trust for $444 Million | agency=[[Bloomberg news]] | work=[[The New York Times]] | date=June 19, 2003 | url-access=subscription}}</ref>


In 2007, the company acquired Birchwood Development Company (NY) for $92 million.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20071008006086/en/Kimco-Realty-Corporation-announces-quarter-transaction-activity | title=Kimco Realty Corporation announces third quarter transaction activity | publisher=[[Business Wire]] | date=October 8, 2007}}</ref>
In 2007, the company acquired Birchwood Development Company – another [[Long Island]]-based real estate corporation – for $92 million.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20071008006086/en/Kimco-Realty-Corporation-announces-quarter-transaction-activity | title=Kimco Realty Corporation announces third quarter transaction activity | publisher=[[Business Wire]] | date=October 8, 2007}}</ref>


In August 2021, the company acquired [[Weingarten Realty]].<ref>{{Cite press release | url=https://www.businesswire.com/news/home/20210804005127/en/Kimco-Realty-and-Weingarten-Realty-Investors-Announce-Closing-of-Merger | title=Kimco Realty and Weingarten Realty Investors Announce Closing of Merger | publisher=[[Business Wire]] | date=August 4, 2021}}</ref>
In 2021, the company announced its intention to acquire [[Weingarten Realty]].<ref>[https://rebusinessonline.com/retail-reit-kimco-realty-to-acquire-weingarten-realty-investors-for-3-9b/]</ref>


==References==
==References==
{{Reflist|1}}
{{Reflist}}


==External links==
==External links==
{{Finance links
{{Finance links
| name = Kimco Realty Corporation
| name = Kimco Realty Corporation
| google = KIM
| symbol = KIM
⚫
| google = KIM:NYSE
| yahoo = KIM
| yahoo = KIM
| bloomberg = KIM:US
| bloomberg = KIM:US
| symbol = KIM
| sec_cik = 879101
⚫
| sec_cik = KIM
}}
}}


Latest revision as of 23:45, 13 May 2024

Kimco Realty Corporation
Company typePublic company
NYSE: KIM
S&P 500 component
IndustryReal estate investment trust
Founded1958; 66 years ago (1958)
FoundersMilton Cooper
Martin Kimmel
HeadquartersJericho, New York
Area served
Contiguous United States and Puerto Rico
Key people
Milton Cooper, Chairman
Conor C. Flynn, CEO
Glenn G. Cohen, CFO
RevenueDecrease $1.044 billion (2020)
Increase $975 million (2020)
Total assetsIncrease $11.614 billion (2020)
Total equityIncrease $5.608 billion (2020)
Number of employees
484 (2020)
Websitewww.kimcorealty.com
Footnotes / references
[1]

Kimco Realty Corporation is a Jericho, New York-based real estate investment trust that invests in shopping centers.

Description

[edit]

Kimco Realty was the first public, vertically integrated REIT designed to be internally managed and advised, providing its own property and asset management.[2]

As of March 31, 2022, the company owned interests in 537 U.S. shopping centers and mixed-use assets comprising 93 million square feet of gross leasable space.[1]

The company also specializes in shopping center ownership, management, acquisitions, and value enhancing redevelopment activities for more than 60 years. As of September 30, 2022, the company owned interests in 526 U.S. shopping centers and mixed-use assets comprising 91 million square feet of gross leasable space. By May 2024, the number of shopping centers which the company owned interest in rose to 502.[3]

History

[edit]

Kimco Realty Corporation was founded in 1966 by a group of real estate investors, including Martin Kimmel and Milton Cooper, who merged their retail assets. This asset merger led to the new company being named Kim-co.

In 1991, the company became a public company via an initial public offering, raising $120 million.[4]

In 1998, the company acquired Price REIT for $535 million in stock.[5]

In October 2003, the company acquired Mid-Atlantic Realty Trust for $441 million.[6][7]

In 2007, the company acquired Birchwood Development Company – another Long Island-based real estate corporation – for $92 million.[8]

In August 2021, the company acquired Weingarten Realty.[9]

References

[edit]
  1. ^ a b "Kimco Realty Corporation 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ Brueggeman, William (2016). Real estate finance and investments. New York, NY: McGraw-Hill Education. ISBN 978-0-07-337735-3. OCLC 908192655.
  3. ^ "Kimco Properties". Kimco Realty. Retrieved 2024-05-13.
  4. ^ Pomerantz, Dorothy (March 10, 2008). "Beyond The Big Box". Forbes.
  5. ^ Kirkpatrick, David D. (January 14, 1998). "Kimco to Announce Pact to Acquire Price REIT for $535 Million in Stock". The Wall Street Journal.
  6. ^ "Kimco Realty Corporation Completes Acquisition of Mid-Atlantic Realty Trust" (Press release). Business Wire. October 1, 2003.
  7. ^ "Kimco to Buy Mid-Atlantic Realty Trust for $444 Million". The New York Times. Bloomberg news. June 19, 2003.
  8. ^ "Kimco Realty Corporation announces third quarter transaction activity" (Press release). Business Wire. October 8, 2007.
  9. ^ "Kimco Realty and Weingarten Realty Investors Announce Closing of Merger" (Press release). Business Wire. August 4, 2021.
[edit]
  • Business data for Kimco Realty Corporation:
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