During Thursday’s Current trade, Shares of Kimco Realty Corp (NYSE:KIM), lost -0.48% to $25.04.
Kimco Realty Corp. (KIM) stated that the company’s transaction activity for the second quarter of 2015 totaled more than $500 million. Highlights comprise the acquisition of the remaining 24.7% equity interest in the 14-property Kimco Income Fund II portfolio based on a gross value of $341.1 million and the disposition of 16 shopping centers for a gross sales price of $144.0 million. In addition the company sold 6.4 million shares of SUPERVALU INC. (SVU) common stock for $58.6 million.
ACQUISITIONS
In the second quarter, Kimco attained the full ownership interest in 14 high-quality shopping centers and several improved parcels adjacent to existing Tier 1 shopping centers totaling about 2.0 million square feet for a gross purchase price of about $367.4 million. Details of these transactions are as follows:
- Kimco Income Fund (KIF) II Portfolio: The company accomplished the acquisition of the 14-property KIF II portfolio from three existing joint venture partners based on a gross value of $341.1 million. Kimco, which formerly held a 75.3% ownership interest in this merged joint venture, paid about $30.5 million for the remaining 24.7% equity interest. The KIF II portfolio is a geographically-diversified, primarily grocery-anchored portfolio totaling 1.9 million square feet across nine states counting four sites located in California. The properties feature a well-known lineup of national retailers counting Kroger, Giant Food, Ross Stores, Bed Bath & Beyond, Best Buy, DSW and Burlington Stores, Inc.
With this acquisition, Kimco continues to execute on the company’s strategy of simplifying its business by reducing its number of joint ventures. Since 2010, the company has reduced the number of institutional joint venture partners by about 50%.
Kimco Realty Corporation is an independent real estate investment trust. The firm invests in the real estate markets across North America. It is primarily engaged in acquisitions, development, and administration of neighborhood and community shopping centers. The firm also provides property administration services regarding the administration, leasing, operation, and maintenance of real estate properties. Kimco Realty Corporation was formed in 1966 and is based in New Hyde Park, New York with additional office all across North America.
Shares of News Corp (NASDAQ:NWSA), inclined 6.30% to $15.02, during its current trading session.
HarperCollins Publishers, a partner of News Corp (NWSA) and joint venture partner Ediouro Group recently declared the formation of HarperCollins Brasil, which combines the existing operations of Thomas Nelson Brasil and Harlequin Brasil with Ediouro’s commercial trade publishing titles and personnel.
HarperCollins Brasil will publish a select list of about 350 titles per year from the HarperCollins trade, children’s, Christian and romance imprints from around the world, in addition to a focused list of Brazilian authors. The new structure aligns Brazil with the HarperCollins strategy to build on existing infrastructures and relationships to grow its authors’ international presence and publish outside of the English language, as has been done in Germany, Poland, Nordic, Holland, Japan and Spain.
News Corporation, a media and information services company, focuses on creating and distributing authoritative and engaging content to consumers and businesses worldwide. The company operates through News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Digital Education segments. The News and Information Services segment offers print and digital products, counting The Wall Street Journal, Barron’s, and other publications; and Marketwatch.com, in addition to a suite of professional information products, counting Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Dow Jones Private Markets, and DJX. This segment also provides free-standing inserts, in-store marketing products and services, and digital marketing solutions to consumer packaged goods advertisers in the United States and Canada.
Duke Energy Corp (NYSE:DUK), during its Thursday’s current trading session decreased -0.62% to $75.09.
Duke Energy declared second quarter 2015 adjusted diluted EPS of 95 cents, contrast to $1.11 for the second quarter of 2014. Second quarter 2015 stated EPS was 78 cents, contrast to 86 cents for the same period last year.
Earnings for the second quarter of 2015 were lower than the preceding year quarterly results, primarily due to one-time tax items that did not recur in the current year. Results also were affected by continued weakness in the International business, particularly Brazil, and the timing of O&M expenses at Regulated Utilities.
Year-to-date adjusted diluted EPS through the second quarter of 2015 is in line with the company’s expectations. The company remains on track to achieve its 2015 adjusted diluted earnings guidance range of $4.55 to $4.75 per share.
Duke Energy Corporation, together with its auxiliaries, operates as an energy company in the United States and Latin America. It operates through three segments: Regulated Utilities, International Energy, and Commercial Power. The Regulated Utilities segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, Ohio, Kentucky, and Indiana; and transports and sells natural gas in southwestern Ohio and northern Kentucky.
Finally, ING Groep NV (ADR) (NYSE:ING), decreased -1.86%, to $15.75.
Alcentra Capital Corporation raised its revolving credit facility to $135 million. The revolver was raised by $20 million via an amendment and incremental commitment agreement. Additionally, the accordion feature was raised to $250 million from $160 million while also extending the maturity of the facility to August 2020 and adding a conditional pricing step-down.
ING Capital LLC is the Agent and Arranger.
ING Groep N.V., a financial institution, provides banking products and services to individuals, small and medium enterprises, and mid-corporates. It operates through Retail Netherlands; Retail Belgium; Retail Germany; Retail Rest of World; and Commercial Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending, mortgages, consumer lending, cash administration, corporate finance, real estate, and lease products.
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