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

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Strip-Mall REITs Sink on Amazon-Whole Foods Deal

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06/16/2017 | 05:32pm CEST
By Esther Fung 

Shares of grocery-anchored shopping center landlords slid on Friday after Amazon.com Inc. said it would buy Whole Foods Market Inc. in a multibillion-dollar deal that shows the internet retailer intends to become a formidable competitor in the grocery sector.

Kimco Realty Corp. fell 5.1%, DDR Corp. slid 4.5%, Regency Centers Corp. was down 4.4%, and Federal Realty Investment Trust shed 2.1% in Friday morning trading. The S&P 500-stock index was down about 0.2%.

Shares of grocery-anchored shopping center REITs have held up better than mall REITs in recent months, suggesting that grocery stores are more insulated from the rise of internet shopping and changing consumer preferences than mall owners are. Consumers typically make frequent trips for daily necessities to grocery-anchored centers, which often include other tenants such as laundromats and barber shops.

But Amazon's aggressive move into the market could be a harbinger of more change to come. Analysts have noted that while the internet hasn't taken a big slice of the grocery market yet, property owners can't afford to ignore the rapid pace of evolution in e-commerce.

Write to Esther Fung at [email protected]

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Financials ($)
Sales 2017 1 178 M
EBIT 2017 408 M
Net income 2017 269 M
Debt 2017 5 305 M
Yield 2017 5,89%
P/E ratio 2017 30,78
P/E ratio 2018 29,22
EV / Sales 2017 11,2x
EV / Sales 2018 10,9x
Capitalization 7 862 M
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Kimco Realty Corp Technical Analysis Chart | KIM | US49446R1095 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 23,4 $
Spread / Average Target 27%
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Managers
NameTitle
Conor C. Flynn Chief Executive Officer & Director
Ross Cooper President & Chief Investment Officer
Milton Cooper Executive Chairman
David Jamieson Chief Operating Officer & Executive Vice President
Glenn Gary Cohen Chief Financial Officer, Treasurer & Executive VP
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Sector and Competitors
1st jan.Capitalization (M$)
KIMCO REALTY CORP-26.59%7 658
SIMON PROPERTY GROUP-9.69%49 609
GGP INC-4.04%20 891
SCENTRE GROUP-10.56%16 718
WESTFIELD CORP LTD-11.19%13 097
REGENCY CENTERS CORP-9.43%10 387
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