WASHINGTON (dpa-AFX) - Kimco Realty Corp. (KIM) reported that its first-quarter Funds from operations or FFO were $126.2 million, or $0.31 per share, up from $122.0 million, or $0.30 per share, for the same period in the prior year.
FFO as adjusted, which excludes the effects of non-operating impairments and transactional income and expenses, was $125.9 million, or $0.31 per share, for the first quarter 2012 compared to $121.2 million, or $0.30 per share, for the same quarter of the prior year.
Net income available to common shareholders for the first quarter of 2012 was $38.1 million, or $0.09 per diluted share, compared to $14.1 million, or $0.03 per diluted share, for the first quarter of 2011.
Total revenues for the quarter rose to $231.36 million from $225.14 million in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.30 per share on revenues of $227.23 million for the quarter. Analysts' estimates typically exclude special items.
The company's board of directors declared a quarterly cash dividend of $0.19 per common share, payable on July 16, 2012, to shareholders of record on July 5, 2012, representing an ex-dividend date of July 2, 2012.
The company's 2012 full year FFO as adjusted guidance range, which does not include any estimate for transactional activities or non-operating impairments, remains $1.22 - $1.26 per share. Analysts expect the company to report earnings of $1.23 per share for fiscal 2012.
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