earnings
confidence high
sentiment positive
materiality 0.80
Kimco Realty Q1 FFO $0.39 (+18.2% YoY), raises dividend 5.3%, lifts 2022 guidance
KIMCO REALTY CORP
- Net income $0.37/diluted share vs $0.30 prior year; FFO $0.39/diluted share, up 18.2%.
- Pro-rata portfolio occupancy 94.7%, up 120 bps YoY; same-property NOI +8.9%.
- Board raises quarterly dividend to $0.20/share (5.3% increase), payable June 23, 2022.
- Raised 2022 FFO guidance to $1.50-$1.53 (prev. $1.46-$1.50); net income guidance $0.79-$0.82.
- Issued $600M 3.200% notes due 2032; redeemed $500M 3.400% notes, incurring $7.2M charge.