Kimco Realty: The 6.45% Preferred Shares Remain Attractive
KIMKimco Realty(KIM) Seeking Alpha·2024-04-05 22:30

hapabapa/iStock Editorial via Getty Images Introduction Earlier this year, Kimco Realty (NYSE:KIM) completed the acquisition of RPT Realty in an all-stock transaction, creating a much larger commercial REIT with a focus on grocery-related anchor tenants. One of the interesting elements was that the "busted" preferred share issue of RPT Realty is now backed by Kimco Realty. As part of the acquisition, Kimco issued 53 million common shares of Kimco to RPT shareholders while it issued just under 1 million oper ...