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Dec 31, 2024
Kimco Q4 2024 Earnings Report
Key Takeaways
Kimco Realty reported strong fourth-quarter results, with net income of $154.8 million and FFO of $286.9 million, reflecting year-over-year growth. The company achieved a 96.3% pro-rata portfolio occupancy rate and completed key acquisitions, strengthening its high-quality, grocery-anchored shopping center portfolio.
Revenue by Segment
Forward Guidance
Kimco Realty expects steady growth in 2025, with net income projected at $0.70-$0.72 per share and FFO of $1.70-$1.72 per share, driven by stable leasing demand and strategic investments.
Positive Outlook
- Strong occupancy rates supporting rental income stability.
- Continued acquisitions enhancing the portfolio’s value.
- Projected same-property NOI growth above 2.0%.
- Improved credit rating outlook from Moody’s.
- Healthy liquidity position with $2.7 billion available.
Challenges Ahead
- Higher interest expenses due to increased debt levels.
- Rising real estate taxes impacting operating margins.
- Lower gains on property sales compared to the prior year.
- Potential economic headwinds affecting retail tenants.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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