Kimco Realty Q2 FFO Increases; Raises Full Year FFO Guidance - Quick Facts

(RTTNews) - Kimco Realty Corp. (KIM) reported second quarter net income available to shareholders of $112.4 million, or $0.27 per share, compared to $74.9 million, or $0.18 per share, for the second quarter of 2014. Income from continuing operations decreased to $101.11 million from $128.99 million, a year ago. Income per share from continuing operations was $0.27, flat with previous year.

FFO was $182.7 million, or $0.44 per share compared to $141.2 million, or $0.34 per share, for the second quarter of 2014. FFO as adjusted, which excludes the effects of non-operating impairments as well as transactional income and expenses, was $152.7 million, or $0.37 per share, for the second quarter of 2015.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.42 for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased to $294.06 million from $245.96 million, a year ago. Analysts expected revenue of $282.20 million for the quarter.

Kimco has increased its 2015 full-year guidance range for FFO and FFO as adjusted. FFO per share is expected to be in the range of $1.52 - $1.56. FFO as adjusted per share is expected to be in the range of $1.43 - $1.46. Analysts expect the company to report earnings per share of $1.54.

Kimco's board declared a quarterly cash dividend of $0.24 per common share, payable on October 15, 2015, to shareholders of record on October 5, 2015, with an ex-dividend date of October 1, 2015. This dividend represents a 6.7% increase over the previous dividend paid for the comparable period in 2014.