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Kimco Realty Corp: Buy This Top-Shelf 6.2%Yielding REIT If Stocks Tumble Again

Published Mon, 20 May 2019 08:15:51 -0400 on Seeking Alpha

Kimco Realty Corp. (KIM) is an attractive commercial property real estate investment trust to consider in case the stock market drops again on the back of new tariff announcements and escalating trade rhetoric between the United States and China. Despite rising market uncertainty about the trade conflict, Kimco Realty Corp. makes a compelling value proposition based on portfolio strength, diversification, excess dividend coverage and dividend growth potential. An investment in Kimco Realty Corp. yields 6.2 percent.
Kimco Realty Corp. - Portfolio Overview
Kimco Realty is a diversified shopping center real estate investment trust with a large commercial property portfolio in the United States. At the end of the March quarter, the REIT’s real estate portfolio included 430 shopping centers reflecting 75.5 million square feet of leasable space.
Here’s a portfolio snapshot as of the end of the March quarter.

Source: Kimco Realty Corp. Q1-2019 Earnings Supplement
The majority of Kimco Realty Corp.’s property portfolio is anchored in top metropolitan markets which make up more than 80 percent of the REIT’s annual base rent. Major metro markets are mostly coastal markets with above-average growth potential.

Source: Kimco Realty Corp. Investor Presentation
Kimco Realty Corp.'s shopping center portfolio is almost fully leased. The REIT's occupancy rate has consistently remained in the mid-90s percentage range in the last five quarters, showing... Read more