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4-Traders Homepage  >  Equities  >  Nyse  >  Kimco Realty Corp    KIM

Delayed Quote. Delayed  - 08/29 10:02:03 pm
30 USD   +1.52%
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Kimco Realty : Announces Redemption Price for its 5.70% Senior Notes due 2017

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08/23/2016 | 11:01pm CEST

Kimco Realty Corp. (NYSE:KIM) today announced that it has established the redemption price of $1,033.90 for each $1,000 principal amount of its 5.70% Senior Notes due 2017 (CUSIP No. 49446RAH2) (the “Senior Notes”), calculated in accordance with the terms of the indenture governing the Senior Notes, plus accrued and unpaid interest on the Senior Notes to, but excluding, the redemption date of August 26, 2016. Kimco previously announced, on July 26, 2016, that it would redeem $290,915,000 aggregate principal amount of its outstanding Senior Notes on the redemption date.

A notice of redemption and related materials was provided to holders of record of the Senior Notes on July 26, 2016, and a supplemental notice of redemption will be provided to holders of record of the Senior Notes on August 23, 2016. Holders that hold their Senior Notes through the Depository Trust Company (“DTC”) will be redeemed in accordance with the applicable procedures of DTC. Questions relating to the notice of redemption, supplemental notice of redemption and related materials should be directed to The Bank of New York Mellon, in its capacity as paying agent for the redemption of the Senior Notes (the “Paying Agent”), at 1-800-254-2826. The address of the Paying Agent is The Bank of New York Mellon, 500 Ross Street, 12th Floor, Pittsburgh, Pennsylvania 15262.

This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT KIMCO

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is North America’s largest publicly traded owner and operator of open-air shopping centers. As of June 30, 2016, the company owned interests in 537 U.S. shopping centers comprising 86.3 million square feet of leasable space across 36 states and Puerto Rico. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years. For further information, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.

SAFE HARBOR STATEMENT

The statements in this news release state the company’s and management’s intentions, beliefs, expectations or projections of the future and are forward-looking statements. It is important to note that the company’s actual results could differ materially from those projected in such forward-looking statements. Factors which may cause actual results to differ materially from current expectations include, but are not limited to, (i) general adverse economic and local real estate conditions, (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iii) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on favorable terms to the company, (iv) the company’s ability to raise capital by selling its assets, (v) changes in governmental laws and regulations, (vi) the level and volatility of interest rates and foreign currency exchange rates and management’s ability to estimate the impact thereof, (vii) risks related to the company’s international operations, (viii) the availability of suitable acquisition, disposition, development and redevelopment opportunities, and risks related to acquisitions not performing in accordance with our expectations, (ix) valuation and risks related to the company’s joint venture and preferred equity investments, (x) valuation of marketable securities and other investments, (xi) increases in operating costs, (xii) changes in the dividend policy for the company’s common stock, (xiii) the reduction in the company’s income in the event of multiple lease terminations by tenants or a failure by multiple tenants to occupy their premises in a shopping center, (xiv) impairment charges and (xv) unanticipated changes in the company’s intention or ability to prepay certain debt prior to maturity and/or hold certain securities until maturity. Additional information concerning factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the company’s SEC filings. Copies of each filing may be obtained from the company or the SEC.

The company refers you to the documents filed by the company from time to time with the SEC, specifically the section titled “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended December 31, 2015, as may be updated or supplemented in the company’s Quarterly Reports on Form 10-Q and the company’s other filings with the SEC, which discuss these and other factors that could adversely affect the company’s results. The company disclaims any intention or obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.


© Business Wire 2016
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Financials ($)
Sales 2016 1 165 M
EBIT 2016 450 M
Net income 2016 378 M
Debt 2016 5 275 M
Yield 2016 3,48%
P/E ratio 2016 32,87
P/E ratio 2017 40,75
EV / Sales 2016 15,2x
EV / Sales 2017 14,7x
Capitalization 12 413 M
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Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 31,4 $
Spread / Average Target 6,2%
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Managers
NameTitle
Conor C. Flynn President, Chief Executive Officer & Director
Milton Cooper Executive Chairman
Glenn Gary Cohen Chief Financial Officer, Treasurer & Executive VP
Thomas R. Taddeo Chief Information Officer & Vice President
Richard Brett Saltzman Independent Director
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