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Kimco Realty Raises FY2025 FFO Guidance from $1.73-$1.75 to $1.75-$1.76 vs $1.74 Est

Benzinga·10/30/2025 10:51:59
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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):

 

  • Acquisitions (6.0% to 7.0%):
  • Dispositions (5.0% to 6.0%):
$97

$198; 6.7%

($101); 5.9%
Unchanged

 
6.0% to 7.0%

Structured investments, net (yield):

  • New capital (9.0% to 10.0%):
  • Repayments (9.0% to 10.0%):
($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