Kimco Realty Corp. Files Q2 2024 10-Q Report

TL;DR

Kimco Realty Corp. dropped its Q2 2024 10-Q. Check financials.

AI Summary

Kimco Realty Corp. reported its second quarter 2024 results, ending June 30, 2024. The company's filing details its financial performance and operational activities for the period. Specific financial figures and operational metrics are provided within the report.

Why It Matters

This 10-Q filing provides investors and analysts with a detailed look into Kimco Realty Corp.'s financial health and operational performance for the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: medium — As a real estate investment trust, Kimco Realty Corp. is subject to market fluctuations, interest rate changes, and tenant-specific risks that can impact its financial performance.

Key Numbers

• 1231 — Fiscal Year End (Indicates the end of Kimco Realty Corp.'s fiscal year.)
• 001-10899 — SEC File Number (Kimco Realty Corp.'s SEC file number.)

Key Players & Entities

• Kimco Realty Corp. (company) — Filer of the 10-Q report.
• Kimco Realty OP, LLC (company) — Subsidiary of Kimco Realty Corp.
• 20240630 (date) — End of the reporting period for the 10-Q.
• 20240802 (date) — Date the 10-Q was filed.

FAQ

Key Financial Figures

• $1.00 — Cumulative Redeemable, Preferred Stock, $1.00 par value per share . KIMprL New Yo

Filing Documents

• kim-20240630.htm (10-Q) — 5315KB
• kim-ex3_1.htm (EX-3.1) — 19KB
• kim-ex10_1.htm (EX-10.1) — 40KB
• kim-ex10_2.htm (EX-10.2) — 1406KB
• kim-ex10_3.htm (EX-10.3) — 37KB
• kim-ex31_1.htm (EX-31.1) — 12KB
• kim-ex31_2.htm (EX-31.2) — 11KB
• kim-ex31_3.htm (EX-31.3) — 14KB
• kim-ex31_4.htm (EX-31.4) — 12KB
• kim-ex32_1.htm (EX-32.1) — 5KB
• kim-ex32_2.htm (EX-32.2) — 5KB
• kim-ex32_3.htm (EX-32.3) — 6KB
• kim-ex32_4.htm (EX-32.4) — 6KB
• img26057334_0.jpg (GRAPHIC) — 10KB
• 0000950170-24-089760.txt ( ) — 20423KB
• kim-20240630.xsd (EX-101.SCH) — 2155KB
• kim-20240630_htm.xml (XML) — 3800KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 4 Condensed Consolidated Financial Statements of Kimco Realty Corporation and Subsidiaries (unaudited) Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Income for the Three and Six Months Ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Changes in Equity for the Three and Six Months Ended June 30, 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 9 Condensed Consolidated Financial Statements of Kimco Realty OP, LLC and Subsidiaries (unaudited) Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 10 Condensed Consolidated Statements of Income for the Three and Six Months Ended June 30, 2024 and 2023 11 Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2024 and 2023 12 Condensed Consolidated Statements of Changes in Capital for the Three and Six Months Ended June 30, 2024 and 2023 13 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 15 Kimco Realty Corporation and Subsidiaries and Kimco Realty OP, LLC and Subsidiaries Notes to Condensed Consolidated Financial Statements (unaudited) 16 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 41 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 54 Item 4.

Controls and Procedures

Controls and Procedures. 55

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1. Legal Proceedings. 56 Item 1A. Risk Factors. 56 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 56 Item 3. Defaults Upon Senior Securities. 56 Item 4. Mine Safety Disclosures. 56 Item 5. Other Information. 56 Item 6. Exhibits. 57

Signatures

Signatures 58 3 KIMCO REALTY CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDAT ED BALANCE SHEETS (unaudited) (in thousands, except share information) June 30, 2024 December 31, 2023 Assets: Real estate, net of accumulated depreciation and amortization of $ 4,094,777 and $ 3,842,869 , respectively $ 16,565,463 $ 15,094,925 Investments in and advances to real estate joint ventures 1,501,267 1,087,804 Other investments 105,456 144,089 Cash and cash equivalents 127,555 783,757 Marketable securities 1,612 330,057 Accounts and notes receivable, net 306,790 307,617 Operating lease right-of-use assets, net 131,083 128,258 Other assets 764,951 397,515 Total assets (1) $ 19,504,177 $ 18,274,022 Liabilities: Notes payable, net $ 7,337,253 $ 7,262,851 Mortgages payable, net 337,456 353,945 Accounts payable and accrued expenses 251,737 216,237 Dividends payable 6,722 5,308 Operating lease liabilities 121,156 109,985 Other liabilities 653,236 599,961 Total liabilities (1) 8,707,560 8,548,287 Redeemable noncontrolling interests 70,010 72,277 Commitments and Contingencies (Footnote 19) Stockholders' equity: Preferred stock, $ 1.00 par value, authorized 7,054,000 shares; Issued and outstanding (in series) 21,216 and 19,367 shares, respectively; Aggregate liquidation preference $ 576,606 and $ 484,179 , respectively 21 19 Common stock, $ .01 par value, authorized 1,500,000,000 and 750,000,000 shares, respectively; Issued and outstanding 674,112,166 and 619,871,237 shares, respectively 6,741 6,199 Paid-in capital 10,914,084 9,638,494 Cumulative distributions in excess of net income ( 353,310 ) ( 122,576 ) Accumulated other comprehensive income 11,236 3,329 Total stockholders' equity 10,578,772 9,525,465 Noncontrolling interests 147,835 127,993 Total equity 10,726,607 9,653,458 Total liabilities

View Full Filing

View this 10-Q filing on SEC EDGAR