Conor Flynn, CEO at Kimco Realty — Realty Reality, Post Pandemic: Responsible REITs are more than just landlords

Show Notes

Summary:

Real Estate Investment Trusts (REITs) can be pretty misunderstood as investment opportunities, particularly amongst younger investors. Their slow-and-steady pace and relative lack of volatility can lead investors looking for quicker action to focus on other asset classes. However, REITs have historically produced long-term capital appreciation and high, consistent dividend income at relatively low risk. For growth-oriented investors, they should be worth consideration. 

Conor Flynn is the CEO of Kimco Realty, and my guest on this episode of Welcome to the Arena. Kimco is a real estate investment trust listed on the New York Stock Exchange under the symbol KIM. It's America's largest publicly traded owner and operator of open air, grocery-anchored shopping centers and mixed-use assets with approximately 540 properties and more than 93 million square feet of gross leasable space. 

In this episode, I speak with Conor about the strategic choices that have positioned Kimco with their highest credit rating and strongest balance sheet to date, and what action they took to support their tenants during the Covid-19 pandemic. 

Highlights:

• Conor describes catching the real estate bug early in life, and how that led to his position at Kimco Realty (03:52)
• Conor explains how Kimco has remained adaptable throughout its six decades in operation (08:53)
• Conor unpacks the concepts of "necessity-based retail" and "the last mile" (10:47)
• Conor acknowledges the ways Kimco stood by its tenants during the pandemic (13:57)
• Conor talks through the strategies behind Kimco's acquisition of Weingarten Realty, and its investment in Albertsons (16:34)
• Conor explains Kimco's capitalization and credit access (21:54)
• Kimco's strategy for creating shareholder value (24:09)
• Conor explains why he is keeping a watchful eye on inflation (27:08)
• Kimco's dedication to ESG initiatives (28:21)

Links:

ICR Twitter

ICR LinkedIn

ICR Website

Conor Flynn LinkedIn

Kimco Realty LinkedIn

Kimco Realty Website

Feedback:

If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, [e-mail].

What is Welcome to the Arena from ICR – Conversations with Today's Innovators & Business Leaders?

In the increasingly crowded and competitive corporate and financial ecosystem, it’s harder than ever for companies to break through the clutter and be heard. The media, investors, agenda-driven influencers, even customers and competitors, are defining your business story on their terms. Therefore, it is imperative that companies take control and proactively drive the conversation with stakeholders in an effort to build & maintain equity value.

In Welcome to the Arena from ICR, Co-Founder & CEO of ICR, Tom Ryan, interviews key business and financial players who influence the fate of public or aspiring public companies in the capital markets. As a former Wall Street Journal ranked sell-side equity analyst and the founder of one of the largest strategic communications firms in the world, Tom understands what it takes to navigate this complex environment.

This is a forum for CEOs, CFOs, institutional investors, sell-side analysts, financial journalists, private equity professionals and other financial community participants to share their stories and give advice in an open and candid conversation.

For more information, visit http://www.icrinc.com