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Kimco Realty Q1 FFO Down; Lifts FY Outlook

WASHINGTON (dpa-AFX) - Kimco Realty Corp. (KIM, KIM-PG) reported that its first-quarter funds from operations declined to $144.3 million or $0.33 per share, from $160.5 million or $0.37 per share

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Shopping center owner Kimco Realty bulks up with $3 87 billion Weingarten deal

By Reuters Staff 2 Min Read (Reuters) -Shopping center owner Kimco Realty Corp said on Thursday it would buy rival Weingarten Realty Investors for about $3.87 billion, adding heft to its business just as more parts of the U.S. economy reopen with the rollout of COVID-19 vaccines. The deal will create a company with 559 open-air grocery-focused shopping centers one of the better performing parts of the commercial real estate sector during the pandemic as people rushed to stores to stock up on essential items. The company’s tenants will include Kroger, Whole Foods and Walmart Inc, as well as discount retailers such as TJX Cos Inc, Ross Stores Inc and Burlington Stores Inc.

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Shopping center owner Kimco Realty buys rival Weingarten in $3 87 billion deal

By Reuters Staff 2 Min Read (Reuters) -Shopping center owner Kimco Realty Corp said on Thursday it would buy rival Weingarten Realty Investors for about $3.87 billion, adding heft to its business just as more parts of the U.S. economy reopen with the rollout of COVID-19 vaccines. The deal will create a company with 559 open-air grocery-focused shopping centers one of the better performing parts of the commercial real estate sector during the pandemic as people rushed to stores to stock up on essential items. The company’s tenants will include Kroger, Whole Foods and Walmart Inc, as well as discount retailers such as TJX Cos Inc, Ross Stores Inc and Burlington Stores Inc.

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