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Sep 30, 2020
Kimco Q3 2020 Earnings Report
Kimco Realty experienced a loss in net income, driven by mark-to-market adjustments on Albertsons shares and potentially uncollectible receivables, while rent collections continued to strengthen.
Key Takeaways
Kimco Realty Corp. reported a net loss of $44.7 million for Q3 2020, primarily due to mark-to-market adjustments on Albertsons shares and potentially uncollectible receivables. However, rent collections continued to strengthen, with 89% of base rents collected for the quarter and 91% in September. The company ended the quarter with a strong liquidity position of over $2.3 billion.
Collected approximately 89% of base rents for Q3, with a 91% collection rate in September.
Pro-rata portfolio occupancy was reported at 94.6%.
Pro-rata rental-rate spreads on comparable spaces increased by 8.2%.
Ended the quarter with over $2.3 billion in immediate liquidity, including $325 million in cash.
Revenue by Segment
Forward Guidance
Kimco Realty did not provide specific forward guidance in this earnings report. However, they highlighted the strength of their portfolio, leasing volume, and robust liquidity.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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