By Denny Jacob
Kimco Realty posted higher net income in its fourth quarter after revenue grew above what Wall Street had forecast.
The real estate investment trust and operator of shopping centers and mixed-use properties logged net income of $166 million, or 23 cents a share, compared with $139.6 million, or 22 cents a share, a year earlier.
Funds from operations, a non-GAAP metric, came in at 42 cents a share for the quarter, in line with analysts' estimates.
Revenue rose to $525.4 million from $451.6 million. Analysts polled by FactSet had expected $516.4 million.
Chief Executive Conor Flynn said Kimco reached the high end of its outlook for the year due to the integration of RPT Realty and strong leasing results.
Kimco forecast net income a share between 70 cents and 72 cents for 2025.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
February 07, 2025 07:13 ET (12:13 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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