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Mar 31, 2021
Kimco Q1 2021 Earnings Report
Kimco reported a strong first quarter, driven by significant leasing activity and positive rental rate spreads, leading to an increased 2021 outlook. The company also announced a strategic merger agreement with Weingarten Realty Investors.
Key Takeaways
Kimco Realty reported a net income of $131.6 million, or $0.30 per diluted share, for Q1 2021, driven by strong leasing activity and positive rental rate spreads. The company executed 358 leases totaling 2.8 million square feet, the highest since Q1 2019, and reported a pro-rata portfolio occupancy of 93.5%. Kimco also raised its 2021 outlook and announced a strategic merger agreement with Weingarten Realty Investors.
Executed 358 leases totaling 2.8 million square feet, the highest since Q1 2019.
Generated new cash pro-rata leasing spreads of 8.2% on comparable spaces.
Reported pro-rata portfolio occupancy of 93.5%.
Announced a strategic merger agreement with Weingarten Realty Investors.
Revenue by Segment
Forward Guidance
Kimco raised its 2021 guidance ranges for net income available to common shareholders to $0.66 to $0.70 per diluted share and for NAREIT FFO to $1.22 to $1.26 per diluted share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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