Kimco Realty reports Q2 FFO 44c, consensus 43c

Reports Q2 revenue $525.18M, consensus $525.23M. “Our FFO per share growth reflects both the strength of our high-quality portfolio and our best-in-class platform and leasing team,” said CEO Conor Flynn. “The modest dip in overall occupancy due to the bankruptcies of JOANN and Party City was significantly less than anticipated, further evidencing the strong tenant demand for our well-located centers and the resilient consumer demand for necessity-based essential goods and services. With consistently strong levels of retail demand, limited new construction supply, and an expanding pipeline of rent commencements, we are well positioned to deliver FFO per share growth in excess of 5% for the second consecutive year.”