secwatch.observer — SEC 8-K summary
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Issuer:     Kimco Realty OP, LLC (—)
CIK:        0001959472
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001437749-24-014248
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kimco Q1 net loss $0.03/sh on merger charges; FFO flat at $0.39, raises FFO guidance
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- Net loss of $18.9M ($0.03/diluted) vs net income of $283.5M ($0.46) in Q1 2023, driven by non-recurring Albertsons dividend and RPT merger costs.
- FFO of $261.8M ($0.39/sh) flat YoY; includes $25.2M of RPT merger charges.
- Same Property NOI grew 3.9%; pro-rata occupancy 96.0%; blended rent spreads of 10.2% on 4.0M sq ft leased.
- Completed $2.3B RPT Realty acquisition on Jan 2; disposed 10 former RPT properties for $248M.
- Board declared $0.24/sh quarterly dividend (unchanged); updated 2024 FFO guidance to $1.56-$1.60 (from $1.54-$1.58).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1959472/000143774924014248/0001437749-24-014248-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/879101/000143774924014248/kim20240430_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-014248

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