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Sep 30, 2023
Kimco Q3 2023 Earnings Report
Kimco Realty reported strong Q3 2023 results, marked by double-digit leasing spreads and increased occupancy.
Key Takeaways
Kimco Realty reported a net income of $112 million, or $0.18 per diluted share, for Q3 2023, compared to $51.6 million, or $0.08 per diluted share, for Q3 2022. The company leased 2.1 million square feet with blended pro-rata rent spreads of 13.4%. Same-property NOI grew by 2.6%.
Generated FFO of $0.40 per diluted share.
Achieved pro-rata portfolio occupancy of 95.5%.
Leased 2.1 million square feet with blended pro-rata rent spreads of 13.4%.
Produced 2.6% growth in Same-Property NOI.
Kimco
Kimco
Kimco Revenue by Segment
Forward Guidance
Kimco updated its 2023 guidance ranges. Net income available to the company’s common shareholders (per diluted share) is now $0.96 to $0.98. FFO (per diluted share) is now $1.56 to $1.57. Same-property NOI growth is now 1.75% to 2.25%.