(RTTNews) -  Kimco Realty Corp. (KIM: News ) posted third quarter net income to common shareholders of $28.3 million or $0.07 per share, compared to $96.8 million or $0.37 per share in the prior year period.

Funds from operations for the period was $112.6 million or $0.30 per share, compared to $176.9 million or $0.68 per share in the same period a year ago. Excluding non-cash impairments and charges for the acceleration of deferred costs from early debt repayment, funds from operations was $117.9 million or $0.31 per share, compared to $182.8 million or $0.70 per share in last year quarter.

On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $0.31 per share. Analysts' estimates typically exclude special items.

Revenues for the period were $192.0 million, compared to $190.0 million in the prior year period. Nine Wall Street analysts expected revenues of $187.77 million.
Looking forward, for the fiscal year 2009, the company estimates funds from operations before non-cash impairments of $1.30 - 1.33 per share. Including non-cash impairments taken through September 30, 2009, the company estimates funds from operations in the range of $0.79 - $0.82 per share.
Previously, the company estimated funds from operations before non-cash impairments in the range of $1.33 - $1.38 per share.

Street analysts expect earnings of $0.83 per share for the year.

Further, the company's Board of Directors declared a quarterly cash dividend of $0.16 per common share, payable on January 15, 2010 to shareholders of record on January 4, 2010.

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by RTT Staff Writer

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