Investor Alert



2:50 a.m. April 15, 2021 - By Tomi Kilgore
Kimco Realty, Weingarten Realty to merge in a deal valuing Weingarten at nearly $4 billionKimco Realty Corp. announced Thursday an agreement to buy Weingarten Realty Investors in a cash and stock deal that values the owner of grocery-anchored shopping centers at about $3.9 billion. Kimco's stock was up 0.2% in premarket trading and Weingarten shares are still inactive. Under terms of the deal, each Weingarten share will be exchanged for 1.408 new Kimco shares and $2.89 in cash. Based on Wednesday's closing prices, that values Weingarten's stock at $30.31 each, a 10.9% premium. After closing, which is expected to occur during the second half of 2021, Kimco shareholders are expected to own 71% of the combined company. "This combination reflects our conviction in the grocery-anchored shopping center category, which has performed well throughout the pandemic and provides last mile locations that are more valuable than ever due to their hybrid role as both shopping destinations and omnichannel fulfillment epicenters," said Kimco Chief Executive Conor Flynn. Year to date, Kimco's stock has run up 29.8% and Weingarten's stock has climbed 26.2%, while the SPDR Real Estate Select Sector ETF has advanced 11.0% and the S&P 500 has gained 9.8%.
9:55 a.m. Nov. 9, 2020 - By Tomi Kilgore
Stocks of residential, retail REITs enjoy historic gains from hopes of COVID-19 vaccineThe shares of real estate investment trusts enjoyed a broad, and in some cases very big, rallies in afternoon trading Monday, as boosted the prospects for REITs focused on residential and retail properties. SL Green Realty Corp.'s stock soared 33.4%, which puts it on track for the second-biggest one day gain since it started trading in 1997, and the biggest gain since it soared 40.9% on Nov. 24, 2008 in the midst of the financial crisis. Shares of SL Green, which owns and manages commercial and residential real estate properties, was the SPDR Real Estate Select Sector ETF's best performer and the S&P 500's second-best performer. Elsewhere, shares of Federal Realty Investment Trust , which owns and manages retail properties, soared 31.3%, to be on track for a record one-day gain; Regency Centers Corp.'s stock powered up 31.5%, which would be the shopping center REIT's best day on record; and Kimco Realty Corp. shares charged 31.0% higher, which would be the open-air shopping center REIT's second biggest-ever gain. The REIT ETF rose 5.1% in afternoon trading, and has now lost 3.2% year to date, while the S&P 500 has climbed 12.0% this year.
10:13 a.m. Sept. 3, 2020 - By Ciara Linnane
Shopping center REIT Kimco Realty to pay quarterly cash dividend as August rent collections improve to 85%Kimco Realty Corp. said Tuesday its board has approved a quarterly cash dividend of 10 cents a share, reinstating the payment after suspending it at the peak of the pandemic. The dividend will be payable Sept. 24 to shareholders of record as of Sept. 10. The shopping center real estate investment trust said it continues to see improvement in foot traffic at malls as tenants re-open, boosting rent collections to 85% in August from 82% in July and 76% in June. The company has granted rent deferrals of about 2% of base rent for the month of August, it said in a statement. "We expect to establish a more normalized and well-covered dividend level based on our adjusted funds from operations and REIT taxable income in 2021," Chief Executive Conor Flynn said in a statement. Shares were down 0.9% premarket and have fallen 42% in the year to date, while the S&P 500 has gained 8%.
6:26 a.m. Aug. 29, 2020 - By Philip van Doorn
These ‘Dividend Aristocrat’ stocks have been raising their dividends for decades, and there have been no dividend cuts during the pandemic Dozens of other S&P 500 companies, in contrast, have reduced their payoutsDozens of other S&P 500 companies, in contrast, have reduced their payouts.
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