kimco realty corp (KIM) Key Developments
Kimco Realty Corporation Presents at Jefferies 2015 Global Consumer Conference, Jun-23-2015 11:00 AM
Jun 18 15
Kimco Realty Corporation Presents at Jefferies 2015 Global Consumer Conference, Jun-23-2015 11:00 AM. Venue: White Elephant, Nantucket, Massachusetts, United States.
Pet Valu Announces Lease Agreement with Kimco Realty
Jun 15 15
Pet Valu, a retailer of pet care items, leased 2,250 square feet at Manetto Hill Plaza at 6 Manetto Hill Road in Plainview. Owned by Atlanta-based private equity firm Roark Capital Group, Pet Valu operates more than 500 stores throughout North America and now seven on Long Island. Jayson Siano and Melissa Naeder of Sabre Real Estate Group represented the tenant and Rob Wachtler was the in-house representative for landlord Kimco Realty in the lease transaction.
Kimco Realty Corporation Announces Executive Promotions
May 25 15
Kimco Realty Corporation has announced the promotion of Ross Cooper as executive vice president and chief investment officer, and David Jamieson as executive vice president of asset management and operations. Mr. Cooper, who has been with the company since 2006, previously held the title of senior vice president, investments after serving as vice president, Acquisitions, Dispositions and Asset Management for Kimco's Southeast Region. In his new capacity, Mr. Cooper will oversee the company's acquisition and disposition strategy. Mr. Jamieson has been with Kimco since 2007, most recently as senior vice president, Asset Management and, previously, as vice president, Asset Management and Leasing for Kimco's Western Region. In his new role, Mr. Jamieson is responsible for the company's long-term asset management strategy with a focus on identifying, developing and implementing opportunistic value creation initiatives that optimize the overall performance of the Kimco portfolio.
Kimco Realty Corporation Appoints Conor C. Flynn as Chief Executive Officer, Effective January 1, 2016
May 11 15
Kimco Realty Corporation announced appointment of Conor C. Flynn as Chief Executive Officer, effective January 1, 2016.
Kimco Realty Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter of 2015; Revises Earnings Guidance for the Full Year of 2015; Reports Impairment Charge for the First Quarter of 2015
May 6 15
Kimco Realty Corporation reported unaudited consolidated earnings results for the first quarter of 2015. For the quarter, the company reported adjusted FFO of $147.2 million or $0.36 per diluted share, up from $140.8 million or $0.34 per diluted share. GAAP net income available to shareholders rose to $295.8 million or $0.71 per diluted share from $72.4 million or $0.18 per diluted share in the year-ago period. Revenues totaled $283.5 million, up from $228.2 million. FFO was $153.5 million, or $0.37 per diluted share, for the first quarter of 2015 compared to $138.4 million, or $0.34 per diluted share, for the first quarter of 2014. Total revenues were $283,456,000 compared to $228,193,000 a year ago. Operating income was $93,966,000 compared to $74,668,000 a year ago. Income from continuing operations was $280,759,000 compared to $75,596,000 a year ago.
For the full-year, the company boosted its adjusted FFO guidance to between $1.42 and $1.45 per share from a previous outlook of $1.40 to $1.44 per share. FFo per diluted share expected to be of $1.50 to $1.55 per share compared to previous guidance of $1.45 to $1.53 per share. Net transactional income expected to be of$33 million to $41 million compared to previous guidance of $20 million to $38 million. The company announced that it is reaffirming operating guidance assumptions for occupancy of 25 to 50 basis points and U.S. same-site NOI growth of 3% to 3.5%
The company reported impairment charge for the first quarter of 2015. For the period, the company reported impairment charge of $6,391,000 compared to $161,000 a year ago.