On July 25, Kimco (NYSE:KIM) released annual earnings for the period ended June 30, 2006.

  • Revenues and funds from operations (FFO) exceeded analyst expectations.
  • Quarterly dividend payout has been increased to $0.36 per share, starting with next quarter's payment.
  • Funds from operations (FFO) guidance for the year increased to $2.16-$2.18 per share.

(Figures in thousands, except per-share data)

Income Statement Highlights

Avg. Est.

Q2 2006

Q2 2005

Change

Sales

$149,790

$151,502

$125,824

20.4%

Funds From Operations

--

$133,310

$112,443

18.6%

FFO Per Share

$0.53

$0.54

$0.48

12.5%

Net Operating Income

$110,834

$93,499

18.5%

Net Income

$108,744

$83,837

29.7%

EPS

$0.43

$0.35

22.9%

Diluted Shares

246,048

230,545

6.7%



Get back to basics with a look at the income statement.

Balance Sheet Highlights

Assets

Q2 2006

Q2 2005

Change

Operating Properties

$4,625,214

$3,838,116

20.5%

Prop. Net of Depreciation

$3,856,241

$3,135,111

23%

Cash

$122,346

$47,377

158.2%



Liabilities & Equities

Q2 2006

Q2 2005

Change

Total Debt

$3,138,854

$2,266,526

38.5%

Market Value of Equity*

$9,192,203

$6,922,143

32.8%

*$175 million in preferred equity is included in market value of equity.

Learn the ways of the balance sheet.

Ratio Highlights

Q2 2006

Q2 2005

Change

Occupancy

94.8%

94.1%

0.7%

FFO Dividend Payout Ratio

61.1%

63.5%

(2.4%)

Total Debt-to-Total Market Cap (EV)

25.5%

24.7%

0.8%



Related Companies:

  • Federal Realty Trust (NYSE:FRT)
  • Weingarten Realty Investors (NYSE:WRI)
  • Pan Pacific Retail Properties (NYSE:PNP)
  • Agree Realty (NYSE:ADC)
  • Vornado Realty Trust (NYSE:VNO)
  • Regency Centers Corporation (NYSE:REG)

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Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.

At the time of publication,Nathan Parmelee had no positions in any of the companies mentioned. Fool rules are here.