Kimco Realty Corporation (KIM), headquartered in Jericho, New York, is a real estate investment trust (REIT), which is one of North America’s largest publicly traded owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the U.S. Valued at $12.81 billion by market cap, the company specializes in shopping center ownership, management, acquisitions, and value-enhancing redevelopment activities for more than 60 years.
Shares of this leading REIT have underperformed the broader market considerably over the past year. KIM has gained 1.2% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 26.6%. In 2024, KIM stock is down 10.8%, while the SPX is up 11.3% on a YTD basis.
