Kimco Realty Earnings Cheat Sheet: Profit Rises Year Over Year
S&P 500 (NYSE:SPY) component Kimco Realty Corporation (NYSE:KIM) reported its results for the second quarter. Kimco Realty Corporation is a real estate investment trust (REIT) that owns and operates neighborhood and community shopping centers. This company is primarily engaged in acquisitions, development and management of its properties. .
Kimco Realty Earnings Cheat Sheet for the Second Quarter
Results: Funds from operations (FFO) was $118 million or 29 cents per share, up from $115.7 million or 28 cents per share a year earlier. FFO, a measure of performance at a real estate investment trust (REIT), takes away the effect depreciation has on earnings.
Actual vs. Wall St. Expectations: KIM reported an adjusted FFO figure of 30 cents per share, above the mean analyst estimate of 30 cents per share.
Competitors to Watch: Equity One, Inc. (NYSE:EQY), Glimcher Realty Trust (NYSE:GRT), Inland Real Estate Corp. (NYSE:IRC), Urstadt Biddle Properties Inc. (NYSE:UBA), Cedar Shopping Centers Inc (NYSE:CDR), Agree Realty Corporation (NYSE:ADC), The Macerich Company (NYSE:MAC), Ramco-Gershenson Properties Trust (NYSE:RPT), Realty Income Corp (NYSE:O), and Tanger Factory Outlet Centers Inc. (NYSE:SKT).
(Source: Xignite Financials)