Kimco Realty Reports 3Q Results; Low-Hanging Fruit Mainly Picked, Window for 2020 Vision Shrinking
Kimco reported third-quarter earnings, resulting in an increase in funds from operations per share of $0.02 for the quarter over the same period last year, after adjusting for transaction charges related to debt extinguishment and merger charges. Releasing spreads continued to be robust overall at 12.9% for the quarter. Overall occupancy was roughly flat after adjusting for the Sports Authority spaces, otherwise occupancy was down 50 basis points from the same time a year ago, affecting same-sto...Kimco Realty is a self-administered real estate investment trust. The company and its subsidiaries are engaged principally in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by grocery stores, off-price retailers, discounters or service-oriented tenants. Additionally, the company provides complementary services on its retail real estate capabilities. The company's ownership interests in real estate consist of its consolidated portfolio and portfolios where the company owns an economic interest, such as properties in the company's investment real estate management programs, where the company partners with institutional investors and also retains management.
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