Stifel Highlights Kimco (KIM) as 'Top Pick in the Sector (Retail)'

Stifel analyst Simon Yarmak reiterated a Buy rating on Kimco (NYSE: KIM).

The analyst commented: "Kimco Realty is our top pick in the sector. Throughout 2024, fundamentals have remained strong, with the company seeing robust lease demand and high tenant retention, and management stating that it does not see any signs of a slowdown. New supply also remains low, with few deals for new retail assets penciling at present. Both of these dynamics are expected to continue into 2025. Also in 2025, management believes they will see continued momentum with RPT synergies, stable cap rates, and a pickup in the transaction market (particularly as a result of its Structured Investment program, with many of these deals starting to reach the end of their life cycles, and KIM receiving the right of first refusal). In addition to positive fundamentals, the company has a healthy balance sheet, and as of September 30, KIM's net debt to adjusted EBITDA was 5.3x, and net debt plus preferred to adjusted EBITDA is 5.6x. Valuation is also attractive relative to its peers."

For an analyst ratings summary and ratings history on Kimco click here. For more ratings news on Kimco click here.

Shares of Kimco closed at $22.07 yesterday.

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