Kimco up 3.8% after results, buyback announcement

|About: Kimco Realty Corporation (KIM)|By:, SA News Editor

Q4 Nareit FFO of $160.1M or $0.38 per share vs. $163M and $0.38 a year ago. This year's Q4 included $6.3M of transactional charges vs. $2.6M of such charges in the year-ago quarter.

Q4 FFO as adjusted of $0.39 per share vs. $0.38 a year ago. Full-year FFO as adjusted of $1.52 per share vs. $1.50 in 2016.

Same-property NOI growth of 1.2% Y/Y in Q4, with Hurricane Maria knocking down that figure by 120 basis points, and redevelopments hurting by 40 bps.

Full-year 2018 Nareit and FFO as adjusted seen at $1.42-$1.46 per share; assumes same-property NOI growth (excl. redevelopments) of 1.25-2%.

It's shares down 21% this year and 43% Y/Y, the company initiates a $300M buyback program.

Conference call at 10 ET.

KIM +3.8% premarket

Previously: Kimco Realty FFO in-line, beats on revenue (Feb. 15)

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