LordRunar
Shares of Kimco (NYSE:KIM) have been a moderate performer over the past year, adding over 8%, though shares have fallen over 15% in the past few months as interest rates have stayed elevated and the Albertsons (
Kimco: Strong Fundamentals Are Reflected In Valuation (Rating Downgrade)
Summary
- Kimco's shares have been a moderate performer, adding over 8% in the past year but falling 15% recently due to high-interest rates and valuation.
- Kimco's grocery-anchored open-air shopping centers boast high occupancy rates, with 96.3% overall and 98.2% for anchor tenants, benefiting from tight supply and strong leasing.
- Despite strong fundamentals and a secure 4.6% dividend yield, growth is expected to slow, given current occupancy, leading to a "hold" rating with KIM stock seen as fairly valued.
- Kimco's strong balance sheet and conservative leverage position it well, but I recommend waiting for a price closer to $20 before adding to positions.
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