Kimco Realty: High-Quality REIT With Better Value In The Preferreds

IWA Research2.32K FollowersFollow5ShareSavePlay(11min)CommentsSummaryKimco Realty Corporation is now rated Hold after the recent 15% rally, with common shares trading near intrinsic value, but preferred stocks are still solid.KIM's Q4 report was solid overall, despite the company's CAPEX being abnormally high because Kimco signed a very solid amount of leases.Preferred shares KIM.PR.M and KIM.PR.L are rated Buy, offering 6.28%–6.32% yields and attractive entry points below liquidation value.Key risks include rate environment pressures and macroeconomic uncertainty, but limited new supply supports long-term fundamentals.slobo/iStock Unreleased via Getty Images Introduction The last time I covered Kimco Realty Corporation (KIM), I upgraded them to a Buy thanks to the solid yield they reached alongside a decent discount to fair value for this high-quality REIT. WithThis article was written byIWA Research2.32K FollowersFollowI've been researching companies in-depth for over a decade, from commodities like oil, natural gas, gold and copper to tech like Google or Nokia and many emerging market stocks, which I believe could help me provide useful content for readers. After writing my own blog for about 3 years, I decided to switch to a value investing-focused YouTube channel, where I researched hundreds of different companies so far. I would say my favorite type of company to cover are metals and mining stocks, but I am comfortable with several other industries, such as consumer discretionary/staples, REITs and utilities.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in KIM.PR.M, KIM.PR.L over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.