Loading...
•
Sep 30, 2021
Kimco Q3 2021 Earnings Report
Kimco's third quarter results for 2021 reflected strong operating performance following strategic merger and an increased 2021 outlook.
Key Takeaways
Kimco Realty Corp. reported strong third-quarter results, marked by the completion of a strategic merger with Weingarten Realty Investors, portfolio occupancy growth, and a notable increase in same-property NOI. The company raised its 2021 outlook, driven by leasing success and the integration of the Weingarten portfolio.
Completed strategic merger with Weingarten Realty Investors on August 3, 2021.
Pro-rata portfolio occupancy grew 20 basis points sequentially to 94.1%.
Same property Net Operating Income (NOI) grew 12.1% over the prior year.
Ended the quarter with Kimco’s investment in Albertsons Companies Inc. (NYSE: ACI) common stock valued at over $1.2 billion.
Revenue by Segment
Forward Guidance
Kimco updated its 2021 guidance to include the Weingarten merger impact, raising net income per share to $1.70-$1.72 and NAREIT FFO per share to $1.36-$1.37, which includes $0.10 per share of merger-related charges.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...