JERICHO, N.Y. (AP) — JERICHO, N.Y. (AP) — Kimco Realty Corp. (KIM) on Thursday reported a key measure of profitability in its first quarter. The results matched Wall Street expectations.
The Jericho, New York-based real estate investment trust said it had funds from operations of $238.1 million, or 39 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 39 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $283.5 million, or 46 cents per share.
The real estate investment trust, based in Jericho, New York, posted revenue of $442.9 million in the period, beating Street forecasts. Six analysts surveyed by Zacks expected $440.2 million.
Kimco Realty expects full-year funds from operations to be $1.54 to $1.57 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KIM at https://www.zacks.com/ap/KIM
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