Kimco Realty Corp. (KIM) 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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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.