* Fourth-quarter FFO 29 cents vs view 28 cents
* Maintains forecast
NEW YORK Feb 9 Kimco Realty Corp (KIM.N), the
largest owner of U.S. strip malls, said on Wednesday that
quarterly funds from operations slipped less than 1 percent due
to non-cash impairment charges.
The real estate investment trust reported fourth-quarter
funds from operations (FFO), a measure of performance, of
$118.4 million, or 29 cents per share, down from $119.5
million, or 31 cents per share, in the year earlier quarter.
Analysts had expected 28 per share, according to Thomson
FFO, a measure of performance of a real estate investment
trust (REIT), removes the profit-reducing effect that
depreciation has on earnings.
The company, based in New Hyde Park, New York, maintained
its full-year outlook to recurring FFO, which does not include
impairment or other one-time charges or gains, of a range of
$1.17 per share to $1.21 per share.
Kimco's owns 816 shopping centers, usually anchored by
grocery or drug stores, in the United States, and others in
Canada, Mexico and South America for a total of 942 shopping
(Reporting by Ilaina Jonas; editing by Andre Grenon)