KIM-PM

Kimco Realty is one of the largest owners of open-air, grocery-anchored shopping centers in the United States, with interests in over 500 properties. KIM-PM offers preferred income from a REIT whose portfolio is anchored by necessity-based retail tenants — grocery stores, pharmacies, home improvement stores, and discount retailers.

Grocery-anchored retail has proven far more resilient than enclosed malls. People buy groceries in every economic environment, and the co-tenancy of grocery stores with other retailers creates foot traffic that supports occupancy. Kimco's portfolio weathered the pandemic with minimal disruption because its tenants sell essential goods.

KIM-PM is an attractive preferred for investors who want real estate income without exposure to the sectors most vulnerable to e-commerce disruption. Kimco's investment-grade balance sheet and consistent dividend history provide additional comfort for preferred holders.