Profile: Kimco Realty Corp (KIM)
30 Mar 2015
Kimco Realty Corporation, incorporated on March 25, 1994, is a self-administered real estate investment trust (REIT), which owns and operates neighborhood and community shopping centers. As of December 31, 2013, the Company had interests in 852 shopping center properties, aggregating 124.5 million square feet of gross leasable area (GLA), and 575 other property interests, through the Company’s equity investments and other real estate investments, totaling approximately 13.2 million square feet of GLA, for a grand total of 1,427 properties aggregating 137.7 million square feet of GLA, located in 42 states in the United States and also in Puerto Rico, Canada, Mexico, Chile and Peru. The Company’s ownership interests in real estate consist of its portfolios where the Company owns an economic interest, such as properties in the Company’s investment real estate management programs, where the Company partners with institutional investors and also retains management.
The Company’s investment strategy is to be the owner and operator of neighborhood and community shopping centers through investments primarily in the United States and Canada. These investments include non-retail preferred equity investments, marketable securities, mortgages on non-retail properties and several urban mixed-use properties. The Company also has an active capital recycling program of selling retail assets deemed non-strategic and properties within the Company’s Latin American portfolio. It also has an institutional management business with domestic and foreign institutional partners for the purpose of investing in neighborhood and community shopping centers. The Company's investment objective is to increase cash flow, current income and consequently the value of its existing portfolio of properties and to seek continued growth in desirable demographic areas.
The Company's neighborhood and community shopping center properties are designed to attract local area customers and are anchored by a department store, a supermarket or a drugstore tenant offering day-to-day necessities. The Company makes loans to joint ventures in which it may or may not participate. As of December 31, 2013, the Company’s tenants included TJX Companies, The Home Depot, Wal-Mart, Bed Bath & Beyond and Kohl’s.
Kimco Realty Corp
3333 New Hyde Park Rd
PO Box 5020
NEW HYDE PARK NY 11042