Kimco Realty Raises FY2025 FFO Guidance from $1.73-$1.75 to $1.75-$1.76 vs $1.74 Est
Benzinga Newsdesk 1 year ago
NewsGuidance
2025 Full Year OutlookThe company has raised its 2025 outlook for Net income and FFO per diluted share as follows:CurrentPrevious Net income:$0.77 to $0.79$0.74 to $0.76FFO:$1.75 to $1.76$1.73 to $1.75The company's
2025 Full Year Outlook
The company has raised its 2025 outlook for Net income and FFO per diluted share as follows:
| Current | Previous | |
| Net income: | $0.77 to $0.79 | $0.74 to $0.76 |
| FFO: | $1.75 to $1.76 | $1.73 to $1.75 |
The company's full year outlook is based on the following assumptions (pro-rata share; dollars in millions):
| YTD Actual(2) | Current | Previous | |
| Same Property NOI growth | 3.0% | Unchanged | +3.0% or better |
| Credit loss as a % of total pro-rata rental revenues | (73bps) | (75bps) to (85bps) | (75bps) to (100bps) |
| Total acquisitions (including structured investments), net of dispositions | $44 | Unchanged | $100 to $125 |
Shopping centers, net (cap rate):
| $97 $198; 6.7% ($101); 5.9% | Unchanged | 6.0% to 7.0% |
Structured investments, net (yield):
| ($53) $260; 10.1% ($313); 9.9% | Unchanged | 9.0% to 10.0% |
| Lease termination income | $9 | Unchanged | $9 to $12 |
| Interest income – Other income, net (attributable to cash on balance sheet) | $8 | $9 to $11 | $6 to $9 |
| Redevelopment spending(3) | $55 | $90 to $110 | $100 to $125 |
| Capital expenditures (tenant improvements, landlord work, leasing commissions) | $207 | $275 to $300 | $250 to $300 |