WASHINGTON (dpa-AFX) - REIT Kimco Realty Corp. (KIM, KIM-PG) reported Thursday net income available to the company's common shareholders for the second quarter of $155.43 million or $0.23 per share, up from $111.78 million or $0.17 per share in the year-ago quarter.
Funds from Operations or FFO, for the quarter were $297.56 million or $0.44 per share, up from $275.96 million or $0.41 per share last year.
Total revenues for the quarter increased to $525.18 million from $500.23 million in the previous year.
On average, analysts polled expected the company to report earnings of $0.18 per share on revenues of $525.23 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2025, the company now projects net income in the range of $0.74 to $0.76 per share and FFO in the range of $1.73 to $1.75 per share. The Street is looking for earnings of $0.72 per share for the year.
Previously, the company expected net income in a range of $0.70 to $0.73 per share and FFO in a range of $1.71 to $1.74 per share.
Kimco's board of directors also declared a quarterly cash dividend on common shares of $0.25 per share, payable on September 19, 2025, to shareholders of record on September 5, 2025.
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