Kimco Realty: I No Longer Recommend This 6.3%-Yielding REIT Based On Valuation

Kimco Realty Corp.’s (KIM) shares have rebounded strongly from the December market rout, and, as a result, I no longer recommend the REIT for new income investors. Though I like the REIT’s overall value proposition in terms of portfolio and distribution coverage, the valuation has become a bit stretched lately, which translates into an unattractive…