Kimco and Weingarten Strategic Merger investor presentaton
ENHANCED SIZE AND SCALE
Combination Creates Top 30 REIT by Market Cap and a Clear Leader in the Shopping Center Sector
Company
PROLOGIS
LARGEST REITS IN THE RMZ
1
2 EQUINIX
3 PUBLIC STORAGE
DIGITAL REALTY TRUST
5 SIMON PROPERTY GROUP
6 WELLTOWER INC
7
EQUITY RESIDENTIAL
8 AVALONBAY COMMUNITIES
9 ALEXANDRIA REAL ESTATE
10 REALTY INCOME CORP
11 VENTAS
12 EXTRA SPACE STORAGE
13 ESSEX PROPERTY TRUST
14 INVITATION HOMES
15 SUN COMMUNITIES
16 HEALTHPEAK PROPERTIES
17 MID-AMERICA APARTMENT
18 BOSTON PROPERTIES
19 DUKE REALTY CORP
20 VICI PROPERTIES
21 UDR
22 WP CAREY
23 MEDICAL PROPERTIES TRUST
24 HOST HOTELS & RESORTS
25 KIMCO REALTY CORP (PRO FORMA)
26 EQUITY LIFESTYLE PPTYS
27 CAMDEN PROPERTY TRUST
28 IRON MOUNTAIN
29 AMERICAN HOMES 4 RENT A
30 GAMING & LEISURE PPTYS
38 KIMCO REALTY CORP
KIMCO™
REALTY
Equity Market Cap ($bn)
$81.9
61.9
46.7
41.1
37.2
31.3
26.6
26.2
24.9
24.4
20.7
18.9
18.6
18.6
17.9
17.5
16.9
16.5
16.4
15.5
13.5
12.7
12.7
12.1
12.0
12.0
11.3
11.0
10.9
10.4
Sources: MSCI and SNL Financial.
Market data as of 4/14/2021.
8.5
($ in billions)
●
●
●
SHOPPING CENTER REIT LANDSCAPE BY EQUITY MARKET CAPITALIZATION
Combined company will have an equity market capitalization of approximately
$12 billion
Only shopping center REIT in the top 30 of the RMZ
Index re-balancing (i.e., S&P 500) of new shares issued to WRI shareholders
in the transaction will create additional demand for KIM's stock
Increased size provides several operational benefits and savings and an
improved access to and cost of capital
$0.2
$0.4
$0.6
$1.0 $1.0
CDR WSR UBA RPT BFS
$1.7
$1.7
KRG AKR
$2.0 $2.1
$2.3
$2.9
$3.5
$6.1
ROIC UE RPAI SITC WRI BRX
$8.2
FRT
$8.5
$10.0
KIM REG
8
$12.0
Pro
FormaView entire presentation