Kimco Realty Corp., a Real Estate Investment Trust (REIT), announced on Thursday that its net income available to common shareholders for the fourth quarter amounted to $154.84 million, equivalent to $0.23 per share. This represents an increase from $133.36 million, or $0.22 per share, in the same period the previous year.
For the quarter, the Funds from Operations (FFO) reached $286.90 million or $0.42 per share, compared to $239.44 million or $0.39 per share in the prior year.
The company's total revenue for the quarter climbed to $525.40 million, up from $451.60 million in the corresponding period last year.
Analysts surveyed by Thomson Reuters had anticipated earnings of $0.19 per share on revenues of $512.63 million for the quarter. These analyst estimates typically do not account for special items.
Looking forward to fiscal year 2025, Kimco Realty projects net income within the range of $0.70 to $0.72 per share and anticipates FFO between $1.70 and $1.72 per share. The financial community expects earnings of $0.74 per share for the year.
Additionally, the board of directors at Kimco declared a quarterly cash dividend of $0.25 per common share, set to be distributed on March 21, 2025, to shareholders recorded as of March 7, 2025.
