Summary
- Kimco shares have fallen over the past five months, creating a compelling entry point for income investors.
- Its business has recovered since the COVID lows with occupancy and rental rates up, traffic back to normal, and AFFO per share above pre-COVID levels.
- Its stake in Albertsons provides additional flexibility to acquire properties, pay dividends, and pay down debt.
- Management has been steadily raising its dividend, and I see a forward yield of about 6%, making shares attractive.
For further details see:
Kimco's Dividend Is Set For Further Growth