Open-air, grocery-anchored shopping centers and mixed-use assets operator Kimco Realty Corporation (KIM) recently reported its fourth-quarter earnings report. Its revenues and NAREIT FFO per share beat the Street estimates by 4.4% and 5.4%, respectively. It also projects 2022 NAREIT FFO per share in the range of $1.46-$1.50. The company’s board of directors raised the quarterly cash dividend on common shares 11.8% by declaring a $0.19 per common share, payable on March 24, 2022.
The stock has lost 0.42% over the past month. In addition, it is currently trading 7.6% below its 52-week high of $25.62, which it hit on January 13, 2022. Furthermore, the effects of the COVID-19 omicron variant and socio-political issues make its near-term prospects uncertain.
