Kimco Realty Corp
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Real Estate : Retail REITs | Mid Cap Blend
Company profile

Kimco Realty Corporation, formerly New KRC Corp., is a real estate investment trust (REIT). The Company is an owner and operator of open-air, grocery-anchored shopping centers, including mixed-use assets. The Company's portfolio is primarily concentrated in the first-ring suburbs of metropolitan markets, including those in high-barrier-to-entry coastal markets and Sun Belt cities, with a tenant mix focused on essential, necessity-based goods and services that drive multiple shopping trips per week. It specializes in shopping center ownership, management, acquisitions, and redevelopment activities. It owns interests in about 526 United States shopping centers and mixed-use assets comprising 91 million square feet of gross leasable space. The Company's properties include 2200 Westlake, Camelback Miller Plaza, Grand Parkway Marketplace, Kentlands Market Square, Scottsdale Waterfront, Jericho Commons, Cupertino Village, Centro Arlington, and Westlake Shopping Center, among others.

Closing Price
Day's Change
0.21 (1.13%)
B/A Size
Day's High
Day's Low

10-day average volume:

GE stock falls after earnings, FCF beat expectations but outlook was downbeat

6:37 am ET January 24, 2023 (MarketWatch)

Shares of General Electric Co. (GE) fell 1.7% in premarket trading Friday, after the industrial conglomerate reported fourth-quarter profit, revenue and free cash flow (FCF) that beat expectations, but provided a downbeat earnings outlook. GE's report was the last one before it started breaking up, with the completion of the GE HealthCare spinoff on Jan. 3. GE swung to net income of $2.13 billion, or $1.95 a share, from a loss of $3.90 billion, or $.355 a share, in the year-ago period. TK in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.24 beat the FactSet consensus of $1.15. Revenue grew 7.3% to $21.79 billion, above the FactSet consensus of $21.25 billion. Among GE business units, Aerospace revenue rose 25.7% to $9.68 billion, Power revenue increased 26.4% to $5.44 billion, Healthcare revenue slipped 0.4% to $5.28 billion and Renewable Energy revenue rose 3.7% to $5.03 billion, with all topping Wall Street expectations. FCF, which has been a closely watched financial metric for GE, of $4.3 billion topped the FactSet consensus of $3.98 billion. Looking ahead, the company expects 2023 continuing EPS of $1.60 to $2.00, below the FactSet consensus of $2.37. The stock has soared 39.4% % over the past three months through Monday, while the Industrial Select Sector ETF (XLI) has rallied 11.4% and the S&P 500 has climbed 5.9%.

-Tomi Kilgore


(END) Dow Jones Newswires

January 24, 2023 06:37 ET (11:37 GMT)

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