earnings
confidence high
sentiment positive
materiality 0.80
Kimco Realty Q3 FFO $0.41 beats; raises FY2022 outlook; dividend to $0.23
KIMCO REALTY CORP
- Q3 2022 FFO $0.41/sh (+28.1% YoY); GAAP EPS $0.08 (incl. $532.6M MTM loss on ACI shares).
- Pro-rata occupancy 95.3% (+120bp YoY); Same-Property NOI +3.1%; new lease spreads +16.5%.
- Board raised quarterly dividend to $0.23 (+4.5% seq, +35.3% YoY); payable Dec 23, 2022.
- FY2022 FFO guidance raised to $1.57-1.59 from $1.54-1.57; net income guidance to $0.64-0.66.
- Post-Q3 sold 11.5M ACI shares for ~$301M; retains 28.3M shares; issued $650M 4.60% notes due 2033.