Kimco Realty Q4 Results Top Estimates; Guides FY24 Below Estimates
(RTTNews) - REIT Kimco Realty Corp. (KIM, KIM-PG) reported Thursday net income available to the company's common shareholders for the fourth quarter of $133.36 million or $0.22 per share, compared to a net loss of $56.09 million or $0.09 per share in the year-ago quarter.
Funds from Operations or FFO, for the quarter were $239.44 million or $0.39 per share, up from $234.86 million or $0.38 per share last year.
Total revenues for the quarter increased to $451.60 million from $439.83 million in the previous year.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.16 per share on revenues of $447.43 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2024, the company now projects net income in a range of $0.47 to $0.51 per share, FFO in a range of $1.54 to $1.58 per share and FFO, excluding merger cost, in a range of $1.58 to $1.62 per share. The Street is looking for earnings of $0.67 per share for the year.
Kimco's board of directors also declared a quarterly cash dividend on common shares of $0.24 per share, payable on March 21, 2024, to shareholders of record on March 7, 2024.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Kimco Realty Q2 Results Top Estimates; Boosts FY24 Outlook
Kimco Realty Boosts FY23 Outlook As Q3 Results Top Estimates
Singapore Stock Market May Extend Wednesday's Gains
Malaysia Bourse May Add To Its Winnings On Thursday
Higher Open Called For Japan Stock Market
KOSPI May Reclaim 3,200-Point Level
Korea Interest Rate Decision Due On Thursday
