- Adjusted FFO of $147.2M or $0.36 per share vs. $140.8M and $0.34 one year ago.
- Pro-rate occupancy in the U.S. and combined portfolios of 95.7%, up 100 and 120 bps, respectively, from a year ago.
- U.S. same-property NOI up 3.2% Y/Y. U.S. pro-rate rental-rate leasing spreads up 10.1%. Rental rates on new leases up 19.1%, on renewals/options up 81%.
- 6.4M shares of Supervalu common stock sold in Q2 for $58.6M in net proceeds. A gain on sale of about $32.4M or $0.08 per share will be included in Q2 FFO, but not AFFO. Kimco (NYSE:KIM) still holds 1.8M shares.
- Full-year adjusted FFO per share guidance is boosted to $1.42-$1.45 from $1.40-$1.44. Same-property NOI growth of 3-3.5%.
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Conference call tomorrow at 10 ET
- Previously: Kimco Realty beats by $0.01, beats on revenue (May 6)
- Shares flat after hours