Kimco Realty Corp Results: FFO Rises
S&P 500 (NYSE:SPY) component Kimco Realty Corporation (NYSE:KIM) reported its results for the first quarter. Kimco Realty is a real estate investment trust (REIT) that owns and operates neighborhood and community shopping centers. The company is primarily engaged in acquisitions, development, and management of its properties. .
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Kimco Realty Earnings Cheat Sheet for the First Quarter
Results: The company’s funds from operations (FFO) rose 3.3% from the year-earlier quarter to 31 cents. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings. It come in ahead of the consensus estimate of 30 cents per share. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings.
Looking Forward: The average estimate for the second quarter is steady at 31 cents a share. For the fiscal year, the average estimate has moved down from $1.25 a share to $1.24 over the last ninety days.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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