Kimco Realty Corp.(KIM), a real estate investment trust, Thursday reported funds from operations or FFO of $301.89 million or $0.44 per share for the first quarter, higher than $261.83 million or $0.39 per share last year, primarily helped by growth in revenue. The company also raised its fiscal 2025 EPS as well as FFO per share outlook.
Kimco Realty posted net income of $125.13 million, or $0.18 per share for the first quarter compared with net loss of $18.92 million or $0.03 per share in the same quarter a year ago.
Operating income rose to $180.48 million from $130.69 million in the prior year.
Revenue for the quarter grew to $536.62 million from $503.75 million in the previous year.
The Board has declared a quarterly dividend of $0.25 per share, payable on June 20, to shareholders of record on June 6.
For the full year, the company now expects EPS in the range of $0.70 - $0.73 and FFO per share of $1.71 - $1.74. This compares with the previous outlook for EPS and FFO per share of $0.70 - $0.72 and $1.70 - $1.72 respectively.
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