Kimco Realty Corporation (KIM) Has Posted Creditable Revenue Growth For Years

Horizon Kinetics LLC, an investment management company, released its first quarter 2023 investor letter. A copy of the same can be downloaded here. The letter discussed certain business models that can be valuable long-term components of a portfolio. You can check the fund’s top 5 holdings to know more about its best picks for 2023.

Horizon Kinetics highlighted stocks like Kimco Realty Corporation (NYSE:KIM) in the first quarter 2023 investor letter. Headquartered in Jericho, N.Y, Kimco Realty Corporation (NYSE:KIM) is a real estate investment trust. On May 31, 2023, Kimco Realty Corporation (NYSE:KIM) stock closed at $18.38 per share. One-month return of Kimco Realty Corporation (NYSE:KIM) was -0.33%, and its shares lost 21.18% of their value over the last 52 weeks. Kimco Realty Corporation (NYSE:KIM) has a market capitalization of $11.394 billion.

Horizon Kinetics made the following comment about Kimco Realty Corporation (NYSE:KIM) in its Q1 2023 investor letter:

“The return differential between land and the REIT model can be observed at another relatively long-lived company. The inherent economics of a business emerge with the benefit of time, which blurs the noise of quarterly and annual results. One of the oldest publicly traded REITs is Kimco Realty Corporation (NYSE:KIM), which predates even Simon Property Group. 14 Kimco came public near year-end 1991, so it has a 30-plus year operating history. It has an $11 billion stock market value and is one of the 30 companies in the REIT sector of the S&P 500. The REIT sector has an aggregate market cap of $773 billion; this figure will be mentioned again very shortly.

Kimco revenues have risen 10.7% annually since 1991, and flow of funds from operations have compounded at 11.2%. This is very creditable, as far as it goes…”(Click here to read the full text)

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Kimco Realty Corporation (NYSE:KIM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Kimco Realty Corporation (NYSE:KIM) at the end of first quarter 2023 which was 23 in the previous quarter.

We discussed Kimco Realty Corporation (NYSE:KIM) in another article and shared the list of best housing stocks to buy. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.