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Kimco Realty (KIM)
NYSE:KIM
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Earnings Data
Report Date
Feb 07, 2025Before Open Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.18Last Year’s EPS
$0.22Same Quarter Last Year
Moderate Buy
Based on 18 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2024
|% Change Since: -1.52%
|Next Earnings Date:Feb 07, 2025
Earnings Call Sentiment|Positive
The earnings call discussed significant achievements including record high occupancy, strong NOI growth, successful RPT integration, and strategic acquisitions. There were some challenges like increased interest expenses and lower disposition guidance. Overall, the positive highlights outweighed the lowlights.Company Guidance
During the third quarter 2024 earnings call, Kimco Realty provided optimistic guidance, highlighting several key metrics and achievements. The company raised its full-year FFO per share guidance to $1.64 to $1.65 from the previous range of $1.60 to $1.62, supported by a 3.3% same-site NOI growth in the quarter. Occupancy rates showed improvement, with overall occupancy rising 20 basis points sequentially and 90 basis points year-over-year to 96.4%. Anchor occupancy reached 98.2%, up 10 basis points sequentially and 100 basis points year-over-year, while small shop occupancy hit a record high of 91.8%, up 70 basis points year-over-year. The company's leasing activity was robust, with 119 new lease deals covering 543,000 square feet, achieving a rent spread of 41.9%. Kimco also added four grocery anchors, increasing its annual base rent from grocery-anchored assets to 84%. The integration of RPT Realty assets surpassed expectations, with significant gains in small shop and anchor occupancies. Looking forward, Kimco plans to leverage its strong balance sheet, disciplined capital allocation, and strategic growth initiatives, including a focus on maximizing value from its 12,000 multifamily unit entitlements, to sustain its growth momentum.Record High Occupancy
Occupancy reached 96.4%, a 90 basis point increase year-over-year, matching the all-time high achieved in Q4 2019.
Strong Same-Site NOI Growth
Generated a positive 3.3% same-site NOI growth for Q3, primarily driven by higher minimum rents and quick rent commencements.
RPT Integration Success
RPT integration exceeded expectations, with same-site NOI for RPT at 10.3% and occupancy improvements across the portfolio.
Raised Full Year Guidance
Increased FFO per diluted share guidance to $1.64-$1.65 from $1.60-$1.62.
New Acquisition: Waterford Lakes Town Center
Acquired Waterford Lakes Town Center in Orlando with a going-in cap rate of low 7%, with significant upside potential.
Achievement of Entitlement Goals
Secured entitlements for 12,000 multifamily units a year ahead of schedule, valued at $175M-$325M.
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KIM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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KIM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $23.78 | $23.48 | -1.26% |
| Aug 01, 2024 | $21.29 | $21.57 | +1.32% |
| May 02, 2024 | $17.90 | $18.35 | +2.51% |
| Feb 08, 2024 | $19.28 | $19.14 | -0.73% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Kimco Realty (KIM) report earnings?
Kimco Realty (KIM) is schdueled to report earning on Feb 07, 2025, Before Open Not Confirmed.
What is Kimco Realty (KIM) earnings time?
Kimco Realty (KIM) earnings time is at Feb 07, 2025, Before Open Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is KIM EPS forecast?
KIM EPS forecast for the fiscal quarter 2024 (Q4) is $0.18.
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