Kimco Realty Corp (KIM.N), the largest owner of U.S. strip malls, said on Wednesday that quarterly funds from operations rose because of new acquisitions and slightly better occupancy in its core shopping centers and the leasing of a center in Mexico. The real estate investment trust reported first-quarter funds from operations (FFO), not including one-time or non-cash items of $121.2 million, or 30 cents per share. That was up from $115.6 million, or 28 cents per share, a year earlier. Analysts expected 30 cents per share, according to Thomson Reuters I/B/E/S. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings.
Kimco Realty Corporation (Kimco) is a self-administered real estate investment trust (REIT). Shares of KIM traded higher by 0.05% or $0.01/share to $19.4. In the past year, the shares have traded as low as $12.51 and as high as $19.80. On average, 3575230 shares of KIM exchange hands on a given day and today's volume is recorded at 3671982.
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