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Stock impact report

Kimco Realty raises annual FFO forecast on strong leasing demand [Yahoo! Finance Canada]

Kimco Realty Corporation (HC) (KIM) 
Last kimco realty corporation (hc) earnings: 1/30 07:30 am Check Earnings Report
US:NYSE Investor Relations: investors.kimcorealty.com
third-quarter FFO on Thursday, helped by strong leasing demand at the real estate investment trust's grocery-anchored retail centers. WHY IT IS IMPORTANT A decline in new commercial space developments and fierce competition among retailers have strengthened demand for rental spaces, including strip mall centers, leading to a spike in lease revenue. KEY QUOTE "Our high-quality, grocery-anchored properties continue to deliver outsized growth, record occupancy and advantageous pricing power," CEO Conor Flynn said in a statement. "Moreover, our recent acquisition of the Waterford Lakes Town Center in Orlando positions us to be a net acquirer in 2024." BY THE NUMBERS The Jericho, New York-based firm now expects its full-year FFO — a key REIT metric that defines cash flow from core operations — to be between $1.64 and $1.65 per share, compared with its previous range of $1.60 to $1.62 per share. Kimco's portfolio occupancy rate rose by 90 basis points year-on-year to 96.4% i Show less Read more
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