Kimco's improving portfolio should pay dividends, but there's more work to be done.
Kimco reported fourth-quarter and full-year 2016 results, roughly in line with our expectations as the company continues to make progress toward its 2020 Vision. We do not plan to change our $29 per share fair value estimate or no-moat rating. U.S. same-property net operating income grew 2.7% in the fourth quarter and 2.8% for the full year over the same periods last year on double-digit leasing spreads, while the Sports Authority bankruptcy continued to drag on growth by 110 and 70 basis points...Kimco Realty is a self-administered real estate investment trust. The company and its subsidiaries are engaged principally in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by grocery stores, off-price retailers, discounters or service-oriented tenants. Additionally, the company provides complementary services on its retail real estate capabilities. The company's ownership interests in real estate consist of its consolidated portfolio and portfolios where the company owns an economic interest, such as properties in the company's investment real estate management programs, where the company partners with institutional investors and also retains management.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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