SOURCE: Advisor Access

April 12, 2016 13:30 ET

Kimco Realty Corp. President and CEO Conor Flynn Interviewed by Advisor Access

SAN FRANCISCO, CA--(Marketwired - April 12, 2016) - Neighborhood and community open-air shopping centers, found in just about every community, continue to provide the ultimate shopping experience offering variety, convenience and even entertainment.

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is North America's largest publicly traded owner and operator of open-air shopping centers. As of December 31, 2015, the company owned interests in 564 shopping centers comprising 90 million square feet of leasable space across 38 states and Puerto Rico. 

Adviser Access spoke with Conor Flynn, Kimco's President and CEO, on March 23, 2016, who spoke about how Kimco is utilizing its high-quality national and diversified platform to maximize shareholder value: 

  • Current Supply-Demand Ratio Very Positive for Shopping Center REITs
  • Plenty of Value to Unlock at Kimco
  • CEO Sees Exceptional Earnings and Dividend Growth
  • De-Leveraging With Goal Toward A- Credit Rating
  • Lease-up Opportunity Key to Growth

Advisor Access:  What makes shopping centers an attractive asset class to invest in?

Conor Flynn: Open-air shopping centers, in particular, are a great asset class because they thrive in all economic cycles. They can also be considered a defensive asset because they are necessity-based offering every-day goods and services. There is typically a retail mix of grocery stores, personal service providers, several restaurants, as well as off-price retailers, which continue to do well, in both good times and in bad times. Most importantly, we are currently in a perfect situation in terms of supply and demand with a 38-year low in new supply for open-air shopping centers. That means there hasn't been much, if anything, built since the recession and retail per capita has actually gone down in the U.S.

We are now seeing steady, increased demand from our retailers who wish to add new stores and that has boosted our occupancy rates to near all-time highs.

Read the full interview with Kimco Realty Corp. President and CEO Conor Flynn HERE.

About Advisor Access

Advisor-Access LLC brings compelling investment ideas to investors in the form of in-depth interviews with company management and the latest fact sheets and corporate presentations.

DISCLOSURE:
Kimco Realty Corp. (NYSE: KIM), paid Advisor Access to produce and distribute this interview. Kimco Realty Corp. had final approval of the content and is wholly responsible for the validity of the statements. Opinions expressed are those of Kimco Realty Corp. and not of Advisor Access or its employees, contractors or owners.

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