Shares of Kimco Realty Corp (NYSE:KIM) ended Friday session in green amid volatile trading. The shares closed up +0.03 points or 0.10% at $29.95 with 2.40 million shares getting traded. Post opening the session at $29.78, the shares hit an intraday low of $29.61 and an intraday high of $30.12 and the price vacillated in this range throughout the day. The company has a market cap of $12.83 billion and the numbers of outstanding shares have been calculated to be 420.05 million shares.
Kimco Realty Corp (KIM) on September 9, 2016 announced that it has achieved the “Green Star” designation from the Global Real Estate Sustainability Benchmark (GRESB) for the third consecutive year. In addition, the company was named for the second consecutive year to the Dow Jones Sustainability North America Index (DJSI), and remains the only retail owner recognized on the Index. These distinctions highlight the company’s commitment to sustainability and corporate citizenship, and its desire to lead by example in the areas of environmental, social and governance performance.
The “Green Star” is GRESB’s highest designation, and Kimco’s 2016 GRESB survey score places the company first among its U.S. open-air peers. Founded in 2011, GRESB is considered the real estate sector’s roadmap to high sustainability performance and low carbon emissions. Its annual survey is the leading global forum for real estate companies seeking to voluntarily disclose sustainability performance. Kimco has participated since the survey’s inception, with 2016 marking the company’s fifth consecutive year of aggregate score improvement.
The Dow Jones Sustainability Index assessment process involves the evaluation of more than 3,400 of the world’s largest companies each year and is considered a leading authority for investors tracking the financial performance of corporate sustainability leaders in their respective industries. This is the second year that Kimco has completed the DJSI assessment and also the company’s second consecutive year as the sole retail REIT selected for inclusion in the North America Index.
“It is our goal to make sustainability a calling card for Kimco, and I’m proud to say we are leading the charge,” said Conor Flynn, President and Chief Executive Officer at Kimco. “In the five short years since we launched our sustainability initiative in 2011, we have decreased same site energy consumption in our centers by over 15 percent – an impressive feat for a company of our size. Kimco continues to focus on improving communities across the country and encouraging innovation and efficiency in property operations – important components of our 2020 Vision that have led us to these two prestigious distinctions.”
Shares of Retail Properties of America Inc (NYSE:RPAI) ended Friday session in green amid volatile trading. The shares closed up +0.17 points or 0.99% at $17.28 with 2.39 million shares getting traded. Post opening the session at $17.08, the shares hit an intraday low of $16.98 and an intraday high of $17.35 and the price vacillated in this range throughout the day. The company has a market cap of $4.19 billion and the numbers of outstanding shares have been calculated to be 237.38 million shares.
Retail Properties of America Inc (RPAI) on September 20, 2016 announced that it entered into a purchase agreement to acquire One Loudoun Downtown (the “Property”) located in the Washington, D.C. Metropolitan Statistical Area (MSA) for a gross purchase price of up to $163.1 million, based on certain performance thresholds. The Company will be acquiring the Property from Miller & Smith and North America Sekisui House, LLC (“Seller”). The acquisition will be closed in phases, with the first phase, representing a purchase price of up to $125.0 million, expected to close by the end of 2016. The remaining phases, representing an aggregate purchase price of up to $38.1 million, are expected to close throughout the first three quarters of 2017 as the Seller completes construction on stand-alone buildings at the Property.
The Property is anchored by Alamo Drafthouse Cinema, The Fresh Market, Great Gatherings and The Fitness Equation and contains a strong mix of fast casual and sit down restaurants, including matchbox and Uncle Julio’s Rio Grande Cafe. The first phase consists of approximately 342,000 square feet, comprised of 236,800 square feet of retail and 105,200 square feet of office, which are 85.6% occupied and 89.7% leased. The remaining phases are currently under development and are expected to contain approximately 78,300 square feet of retail and approximately 46,300 square feet of office, which are 71.0% leased.