Wednesday, Kimco Realty Corp. (KIM) reported fourth-quarter funds from operations or FFO of $119.5 million or $0.31 per share, compared to $10.5 million or $0.04 per share in the same quarter last year.
Excluding impairment charges, FFO for the quarter was $0.31 per share, down from $0.46 per share in the prior year quarter.
Net income available to common shareholders for the quarter was $40.4 million or $0.11 per share, compared to a net loss available to common shareholders of $63.3 million or $0.24 per share in the year ago quarter.
On average, 17 analysts polled by Thomson Reuters expected the company to earn $0.29 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues from rental properties for the quarter was $211.82 million, up from $197.0 million in the comparable quarter last year. Analysts expected the company to report revenue of $198.94 million for the quarter.
Looking ahead to the full year 2010, the company expects FFO in the range of $1.07 - $1.15 per share. Analysts currently anticipate the company to earn $1.15 per share for the full year.
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