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Kimco logs FFO gains for Q1, reaffirms FY'16 guidance

Kimco RealtyCorp. on April 27 reported results for the 2016 first quarter andreaffirmed its full-year guidance.

For the quarter, FFO came to $158.2 million, or 38 cents pershare, compared to $153.5 million, or 37 cents per share, in the year-agoperiod.

FFO as adjusted for the period totaled $152.9 million, or 37cents per share, compared to $147.2 million, or 36 cents per share, in the 2015first quarter. FFO as adjusted excludes the effects of nonoperating impairmentsand transactional income and expenses.

The S&P Capital IQ consensus FFO-per-share estimate forthe first quarter was 36 cents.

The company maintained its FFO-per-share guidance for the2016 full year in the range of $1.54 to $1.62 and adjusted-FFO-per-shareguidance for the year in the range of $1.48 to $1.52.

The S&P Capital IQ consensus FFO-per-share estimate for2016 is $1.51.

U.S. same-property NOI increased 1.5% year over year duringthe first quarter and includes a 140-basis-point credit loss reduction relatedto the Sports Authority Inc. bankruptcy filing, the company said in the newsrelease. Excluding the impact of the Sports Authority credit reserve,same-property NOI increased 2.9% during the quarter.