#8 - Kimco Realty (NYSE:KIM)
Kimco Realty (KIM) RSI Score = 48.93
Kimco Realty (NYSE:KIM) is one of the frustrating casualties of the Covid-19 pandemic. The real estate investment trust (REIT) was one of the most affected businesses when its commercial real estate tenants were forced to shut their doors.
A REIT relies on the monthly income it receives as rent. So Kimco was not about to sit idly by as their tenants faced an uncertain future. The company instituted a pilot tenant assistance program (TAP). The goal of the TAP is to help its tenants navigate the confusing work needed to find and apply for federal and state loans.
Kimco CEO Conor Flyn said, “We were nervous about time. We are not ones to wait for the government. We figured we had to act quickly.”
In addition to the TAP program, Kimco is covering legal expenses to help its tenants find and apply for government-sponsored disaster relief loans. Furthermore, the company offered a rent deferral program to smaller tenants who could not pay their April rent.
About Kimco Realty
Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America's largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
- Current Price
- $25.50
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 8 Buy Ratings, 9 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $24.33 (4.6% Downside)
