Kimco Realty said net income available to common shareholders for fiscal 2024 was $375.7 million ($0.55 diluted per share), compared to $629.3 million ($1.02 per share) for fiscal 2023.

1. 01

   Kimco Realty said net income available to common shareholders for fiscal 2024 was $375.7 million ($0.55 diluted per share), compared to $629.3 million ($1.02 per share) for fiscal 2023.

2. 02

   The company said that of the $252.0 million increase in revenues from rental properties, net for 2024, a net increase of $178.6 million was due to properties acquired through the RPT Merger.

3. 03

   Kimco Realty said net cash flow provided by operating activities for 2024 was $1.0 billion, a decrease of $0.1 billion from $1.1 billion for 2023, and cited the receipt of a special dividend from ACI of $194.1 million in 2023 as a factor in the decrease.

4. 04

   The company said it repurchased 409,772 Class N depositary shares for an aggregate cost of $26.7 million through the Class N Tender Offer, and issued 5.4 million shares through its ATM Program in 2024 for net proceeds of $135.8 million.

Key figures

Fiscal year ended December 31, 2024

Revenue

$2.0B

Operating income

$629M

Net income

$411M

Operating cash flow

$1.0B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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