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Why Kimco Realty Stock Popped 10% at the Open Today

Reuben Gregg Brewer, The Motley Fool
·2-min read
Why Kimco Realty Stock Popped 10% at the Open Today

Shares of real estate investment trust (REIT) Kimco Realty (NYSE: KIM) quickly jumped 10% in the first half hour of trading on April 28. Although there was no specific news related to the shopping center REIT, the move by several states to allow non-essential businesses to open again has been viewed very positively by investors. Roughly 75% of the rentable square feet in Kimco's centers is leased out to large tenants that are, for the most part, essential businesses (think grocery stores and the like).

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