Kimco Realty up after beat-and-raise Q3

Kimco Realty

26/10/2023 16:38

** Shares of commercial real estate investment trust Kimco
Realty  KIM.N  up 5.1% at $17.22
    ** Stock headed for best day since Nov. 10, 2022, if current
gains hold
    ** Co posts beat-and-raise Q3, helped by higher rental rates
and steady demand at its grocery-anchored shopping centers
    ** KIM's portfolio occupancy in Q3 was 95.5%, a 20 bps
increase y-o-y, but a 30 bps drop sequentially
    ** Co lifts annual FFO per share forecast to $1.56-$1.57,
from $1.55-$1.57 earlier
    ** Up to last close, stock down ~22% YTD

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))