Kimco Realty Q2 FFO $0.40 (+17.6% YoY); raises common dividend 29.4% YoY

KIMCO REALTY CORP

Net loss available to common shareholders of $0.21/diluted share vs $0.25 income in Q2 2021, primarily due to $285.8M mark-to-market reduction on ACI stock.
FFO of $0.40/diluted share compared to $0.34 in Q2 2021; guidance raised to $1.54-$1.57 FFO per share for full year 2022.
Pro-rata portfolio occupancy at 95.1%, up 120 bps YoY; small shop occupancy up 370 bps YoY to 89.2%.
Blended pro-rata leasing spreads of 7.1%; new leases up 16.6%, renewals/options up 5.6%.
Quarterly common dividend raised 10% sequentially to $0.22/share, payable Sept 23, 2022 to holders of record Sept 9; 29.4% over prior year quarter.

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