NYSE$KIM
Kimco Realty Corp · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Kimco Realty outperformed expectations with an expanded portfolio concentrated in high-growth markets.
Kimco Realty reported Q4 2021 results, featuring a net income of $75.3 million, or $0.13 per diluted share. The company grew pro-rata portfolio occupancy and anchor occupancy sequentially. Same-property NOI increased by 12.9%.
- Produced Funds From Operations (FFO) of $0.39 per diluted share
- Grew pro-rata portfolio occupancy 30 basis points sequentially to 94.4%
- Sequentially grew pro-rata anchor occupancy 20 basis points to 97.1% and small shop occupancy 40 basis points to 87.7%
- Reported a 12.9% increase in Same-property Net Operating Income (NOI), including redevelopments and the former Weingarten Realty (WRI) portfolio, during the fourth quarter over the same period a year ago
Headline financials
Revenue & EPS history
Kimco · Revenue · Quarterly
$425M
Revenue by segment
Kimco · $425M total across 2 segments · Q4 2021
- Rental Properties, Net$420M+57.9%99.0%
- Management and Other Fee Income$4.25M+36.0%1.0%
Forward guidance
Kimco Realty provided its full year 2022 outlook, projecting net income per diluted share between $0.51 and $0.55 and Nareit FFO per diluted share between $1.46 and $1.50.
Tailwinds
- Same-property NOI growth will be positive
- Total property acquisitions (including structured investments), net of dispositions, of $100 million
- No redemption of preferred stock outstanding that becomes callable or early prepayment charges of maturing debt
- No monetization of ACI shares
- No issuance of common equity
Headwinds
- Net Income available to common shareholders (per diluted share): $0.51 to $0.55
- Nareit FFO (per diluted share): $1.46 to $1.50
- Credit loss on rental revenue of 100 basis points at the midpoint
- No income attributable to cash basis tenants from collection of prior period accounts receivables or the reinstatement of straight-line rent receivables
- Kimco Realty anticipates it will monetize a portion of its ACI investment during 2022 but prefers not to make any assumption as to the timing or amount in order to maintain maximum optionality.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2021
+0.4%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+2.7%
Avg return
30 days after
51%
37 / 72 earnings
Positive
+11.0%
Q1 2018
Best reaction
-11.8%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.8% | -0.4% | +1.9% | |
| Q4 2025 | +1.5% | +5.3% | +4.2% | |
| Q3 2025 | -2.0% | -4.5% | -3.5% | |
| Q1 2025 | +4.9% | +3.2% | +6.4% | |
| Q4 2024 | -0.1% | -0.5% | -4.4% | |
| Q3 2024 | -0.8% | +2.6% | +6.5% | |
| Q2 2024 | +0.9% | +0.0% | +7.0% | |
| Q1 2024 | +3.2% | +2.6% | +4.6% | |
| Q4 2023 | -0.4% | -3.3% | -3.4% | |
| Q3 2023 | +3.0% | +9.5% | +14.2% | |
| Q2 2023 | -2.7% | -2.7% | -9.6% | |
| Q1 2023 | +2.8% | -0.7% | -3.2% | |
| Q4 2022 | -2.2% | -3.3% | -15.3% | |
| Q3 2022 | +3.0% | +5.0% | +10.8% | |
| Q2 2022 | +2.8% | -0.6% | +1.0% | |
| Q1 2022 | +0.4% | -0.8% | -5.9% | |
| Q4 2021 | -3.0% | -3.9% | -4.0% | |
| Q3 2021 | -0.4% | +0.0% | -2.3% | |
| Q2 2021 | +2.7% | +0.0% | +5.5% | |
| Q1 2021 | +0.5% | +1.0% | +2.0% | |
| Q4 2020 | +2.3% | +0.0% | +11.7% | |
| Q3 2020 | -4.4% | +31.8% | +45.5% | |
| Q2 2020 | +5.5% | +8.3% | +10.7% | |
| Q1 2020 | +0.4% | -12.8% | +51.4% | |
| Q4 2019 | -5.0% | -3.1% | -13.5% | |
| Q3 2019 | -0.5% | -0.7% | +0.2% | |
| Q2 2019 | -0.3% | +3.0% | -3.5% | |
| Q1 2019 | +4.6% | +3.2% | +0.0% | |
| Q4 2018 | -1.0% | +0.5% | -0.1% | |
| Q3 2018 | +4.3% | +9.3% | +3.4% | |
| Q2 2018 | -4.1% | -0.1% | +2.6% | |
| Q1 2018 | +11.0% | +11.6% | +13.2% | |
| Q4 2017 | +6.6% | +6.9% | +2.0% | |
| Q3 2017 | -2.1% | -1.6% | +0.4% | |
| Q2 2017 | +6.9% | +2.6% | +0.9% | |
| Q1 2017 | -4.8% | -5.9% | -17.0% | |
| Q4 2016 | +1.1% | -1.1% | -4.8% | |
| Q3 2016 | -3.5% | -5.1% | -3.3% | |
| Q2 2016 | +1.9% | +2.9% | -5.4% | |
| Q1 2016 | -0.5% | — | — | |
| Q4 2015 | +1.6% | — | — | |
| Q3 2015 | -0.8% | — | — | |
| Q2 2015 | +0.7% | — | — | |
| Q1 2015 | +1.6% | — | — | |
| Q4 2014 | -3.5% | — | — | |
| Q3 2014 | +0.9% | — | — | |
| Q2 2014 | -2.4% | — | — | |
| Q1 2014 | +0.2% | — | — | |
| Q4 2013 | +1.5% | — | — | |
| Q3 2013 | +0.2% | — | — | |
| Q2 2013 | -0.3% | — | — | |
| Q1 2013 | +1.6% | — | — | |
| Q4 2012 | +1.0% | — | — | |
| Q3 2012 | -0.6% | — | — | |
| Q2 2012 | +2.2% | — | — | |
| Q1 2012 | -1.2% | — | — | |
| Q4 2011 | -1.4% | — | — | |
| Q3 2011 | -1.3% | — | — | |
| Q2 2011 | -11.8% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q4 2010 | -2.0% | — | — | |
| Q3 2010 | -3.3% | — | — | |
| Q2 2010 | -0.4% | — | — | |
| Q1 2009 | +8.6% | — | — | |
| Q1 2010 | -1.9% | — | — | |
| Q4 2007 | +0.9% | — | — | |
| Q4 2009 | +0.9% | — | — | |
| Q3 2008 | -4.2% | — | — | |
| Q3 2009 | -4.2% | — | — | |
| Q2 2008 | +5.9% | — | — | |
| Q4 2008 | +5.9% | — | — | |
| Q2 2009 | +5.9% | — | — |
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