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Jun 30, 2021
Kimco Q2 2021 Earnings Report
Kimco's results for Q2 2021 showed sequential growth in portfolio occupancy and improved operating fundamentals.
Key Takeaways
Kimco Realty Corp. reported second quarter results with net income available to common shareholders of $110.3 million, or $0.25 per diluted share. Pro-rata portfolio occupancy increased sequentially, and same-property NOI grew 16.7% year-over-year. The company raised its 2021 guidance, reflecting confidence in the upcoming merger with Weingarten Realty.
Pro-rata portfolio occupancy grew 40 basis points sequentially to 93.9%.
Pro-rata anchor occupancy increased 70 basis points sequentially to 96.9%.
New cash pro-rata leasing spreads were 9.2% on comparable spaces.
Same property NOI, including redevelopments, grew 16.7% year-over-year.
Revenue by Segment
Forward Guidance
Kimco raised its 2021 guidance ranges, expecting net income available to common shareholders to be between $0.83 and $0.87 per diluted share and NAREIT FFO to be between $1.29 and $1.33 per diluted share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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