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Kimco Realty: Q4 Earnings Snapshot
JERICHO, N.Y. (AP) — JERICHO, N.Y. (AP) — Kimco Realty Corp. (KIM) on Friday reported a key measure of profitability in its fourth quarter. The results met Wall Street expectations.
The Jericho, New York-based real estate investment trust said it had funds from operations of $286.9 million, or 42 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 42 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $154.8 million, or 23 cents per share.
The real estate investment trust, based in Jericho, New York, posted revenue of $525.4 million in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $513.1 million.
For the year, the company reported funds from operations of $1.11 billion. Revenue was reported as $2.04 billion.
Kimco Realty expects full-year funds from operations to be $1.70 to $1.72 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KIM at https://www.zacks.com/ap/KIM
