Welcome to our dedicated page for Kimco Realty Cp news (Ticker: KIM), a resource for investors and traders seeking the latest updates and insights on Kimco Realty Cp stock.
Kimco Realty Corp. reports developments for a U.S. real estate investment trust that owns and operates open-air, grocery-anchored shopping centers and mixed-use properties. Its updates center on leasing volume, rent commencements, occupancy, tenant mix, net income, funds from operations, balance sheet activity, and capital allocation across a portfolio concentrated in first-ring suburbs of major metropolitan markets.
Recurring announcements also cover acquisitions, dispositions, redevelopment and structured investment activity, dividend tax treatment for common and preferred stock, board composition, earnings calls, and investor conference presentations.
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Kimco Realty, North America's largest publicly traded owner of open-air, grocery-anchored shopping centers, reported Q1 2023 results, showing a significant increase in net income and strong leasing performance. For the first quarter, net income available to common shareholders was $283.5 million, or $0.46 per diluted share, up from $230.9 million or $0.37 per diluted share a year earlier. Funds From Operations (FFO) were $238.1 million, yielding $0.39 per diluted share. The company leased 4.5 million square feet, an increase in occupancy to 95.8%, and achieved a remarkable 44.0% increase in cash rent spreads for new leases. Kimco received a $194.1 million special dividend from Albertsons and sold shares for $282.3 million total proceeds. The board declared a cash dividend of $0.23 per share, marking a 15% increase over the previous year. The full-year outlook for net income is revised to $0.92-$0.96 per diluted share.