earnings
confidence high
sentiment positive
materiality 0.75
Kimco Q2 FFO $0.34, raises 2021 guidance, occupancy up 40 bps
KIMCO REALTY CORP
- Net income $110.3M ($0.25/diluted) vs $741.5M ($1.71) in Q2 2020, which included one-time ACI gains.
- NAREIT FFO $0.34/diluted share vs $0.24 year ago; raised 2021 FFO guidance to $1.29-$1.33.
- Pro-rata occupancy 93.9% (+40 bps QoQ); anchor occupancy 96.9% (+70 bps).
- Same-property NOI +16.7% YoY; 333 leases totaling 1.8M sq ft signed.
- Merger with Weingarten Realty expected to close Aug 3, 2021; liquidity over $2.2B.