In Wednesday trading, Kimco Realty Corp’s 7.25% Series D Cumulative Convertible Perpetual Preferred Shares (Symbol: KIM.PRN) yielded over 6%, with shares dropping to $59.90. This yield is below the average of 8.11% in the Real Estate preferred stock category. KIM.PRN is currently trading at a 21.08% premium to its liquidation preference, contrasting with the category’s average discount of 14.38%.
The preferred shares have a conversion ratio of 3.4699. On the same day, KIM.PRN’s shares decreased by approximately 0.7%, while the company’s common shares (Symbol: KIM) fell by about 0.5%.
