金克地产 2024年度报告

Suburban Square and Coulter AvenueArdmore, Pennsylvania Kimco Realty® (NYSE:KIM) is a real estate investment trust (REIT) and leading owner and operator ofhigh-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States.The company’s portfolio is strategically concentrated in the first-ring suburbs of the top major metro-politan markets, including high-barrier-to-entry coastal markets and rapidly expanding Sun Belt cities.Its tenant mix is focused on essential, necessity-based goods and services that drive multiple shoppingtrips per week. Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the company has specialized inshopping center ownership, management, acquisitions, and value-enhancing redevelopment activities formore than 65 years. As of December 31, 2024, the company owned interests in 568 U.S. shopping centersand mixed-use assets comprising 101 million square feet of gross leasable space. For further information,please visit www.kimcorealty.com. 2024 Operating Review ........................... 1Form 10-K ................................................... 8Stockholder Information....................... 176Corporate Directory ............................IBC tenant demand across retail categories, and strategicportfolio enhancements. Dear Fellow Stockholders and Associates, As we close the books on 2024, we are proud toreport a year of outstanding achievements, strate-gic milestones, and disciplined execution that havefurther cemented Kimco’s position as the leader inopen-air, grocery-anchored shopping centers andmixed-use properties. We navigated an evolvingeconomic landscape with conviction, capitalizingon favorable supply and demand dynamics, makingtargeted, high-value investments, and strengtheningour financial position. A Portfolio Built for Growth Net income available to Kimco’s common shareholdersper diluted share was $0.55 for 2024, compared to $1.02in 2023. The year-over-year change was primarily drivenby the $194.1 million one-time special cash dividendreceived from Kimco’s investment in Albertsons Compa-nies, Inc. (NYSE: ACI) in 2023. Funds From Operations*(“FFO”) for the full year 2024 were $1.1 billion, or $1.65per diluted share, compared to $970 million, or $1.57per diluted share, for 2023, representing 5.1% year-over-year per share growth. This growth reflects our abilityto capitalize on a favorable operating environment anda well-positioned portfolio to drive strong results thatdirectly contribute to our bottom line. We began the year on a high note with the successfulacquisition of RPT Realty, which added high-qualityassets in key markets while unlocking operationalefficiencies and synergies, surpassing our initialexpectations. Our success is rooted in the quality and prime loca-tions of our shopping centers, the advantages ofscale afforded by our unique operating platform, anda best-in-class team. Despite concerns over broadermacroeconomic trends, consumer spending remainedrobust in 2024, growing 4.2% in the fourth quarter,buoyed by a strong labor market and 2.8% GDP growthfor the year. Against this backdrop, our well-locatedcenters in first-ring suburbs continued to outperform,benefiting from a continuation of limited supply dueto historically low new retail development, sustained Our success is rooted in thequality and prime locationsof our shopping centers,the advantages of scaleafforded by our uniqueoperating platform, and abest-in-class team. Kimco’s portfolio continues to benefit from favorablesupply-demand dynamics in the commercial real estatesector, with new construction measuring just 0.3% ofexisting stock and national vacancy rates near recordlows. This, combined with strong retailer demand, pro-pelled our leasing efforts in 2024, and we ended theyear at near-record occupancy with elevated retentionrates and robust rent growth. Pro-rata anchor occupancyended the year at 98.2%,up 20 basis points overthe fourth quarter 2023,and pro-rata small-shopoccupancy remained close to its all-timehigh at 91.7%, with our high-qualitycenters continuing to attract retailersacross a broad range of categories. We ended 2024 with fourth quarter pro-rata portfo-lio occupancy of 96.3%, reflecting a 10-basis-pointyear-over-year increase. Pro-rata anchor occupancyended the year at 98.2%, up 20 basis points over thefourth quarter 2023, and pro-rata small-shop occu-pancy remained close to its all-time high at 91.7%,with our high-quality centers continuing to attractretailers across a broad range of categories. Wesee additional opportunity to grow our small shopoccupancy rate even higher by leveraging stronginterest from service, medical, and wellness concepts.Our retention rate for renewals and options sits at approximately 90% and is a key contributor to ourstrong leasing spreads. Pro-rata cash rent spreads onnew leases increased by 34.8% for 2024 and 35.4% inthe fourth quarter, marking 13 consecutive quartersof double-d