Kimco Q1 2020 Earnings Report
Key Takeaways
Kimco Realty reported solid first-quarter operating performance with a net income of $83.7 million, or $0.19 per diluted share. The company attained a pro-rata anchor occupancy of 98.6% and grew same-property NOI by 1.5%. Kimco also maintained a strong liquidity position with over $2 billion available.
Pro-rata anchor occupancy reached 98.6%, an increase of 80 basis points year-over-year.
New cash pro-rata leasing spreads grew by 13.3%.
Same-property NOI increased by 1.5% compared to the same period in 2019.
A new $2.0 billion revolving credit facility was obtained.
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Kimco Revenue by Segment
Forward Guidance
Kimco withdrew its full-year 2020 guidance due to the economic uncertainty resulting from the COVID-19 Pandemic and is not providing updated 2020 guidance at this time.
Revenue & Expenses
Visualization of income flow from segment revenue to net income