KIM dilutes themselves 25%. They cut the dividend. All the financial stocks are lower. Unemployment is rampant. Yet KIM is up 18%!!! Something doesn't fit. Also, last time I checked, investors buy REIT's for their strong and sustained dividend. At about 2.5%, the KIM dividend is a joke relative to other REIT's. This is a screaming short.
You've got to be kidding. The "reality" of the CRE bust for KIM and other REITs is just starting. This offering was an act of pure desperation -- KIM had to do an offering because no bank would loan them money at reasonable terms so they could roll their debt. Luckily for KIM and the banksters who handled it there seems to be a sufficient supply of fools out there who have no idea what due diligence is (banks have gotten smarter about that). Who in their right mind would pay a premium above the offering to own this?