Kimco Realty (NYSE: KIM) reported Q4 EPS of $0.45, $0.35 better than the analyst estimate of $0.10. Revenue for the quarter came in at $269.44 million versus the consensus estimate of $262.88 million.

Highlights:

• Collected 92% of total pro-rata base rents billed during the fourth quarter and subsequently collected 91% for the month of January.
• Reported pro-rata portfolio occupancy of 93.9%.
• Signed 92 new leases for 406,000 square feet during the fourth quarter which represents an 18% increase over the same period in 2019.
• Recognized a 6.0% increase in pro-rata rental-rate spreads on comparable spaces.
• Ended the quarter with $2.3 billion in immediate liquidity including $293 million in cash.
• Announced new resources to help small businesses access the latest round of PPP funding through Kimco’s Tenant Assistance Program (TAP).

“Thanks to Kimco’s dedicated associates and resilient portfolio, during the fourth quarter our rent collections remained strong, our leasing volume reached pre-pandemic levels and we continued our efforts to help tenants overcome the impact of COVID-19,” stated Conor Flynn, Kimco’s Chief Executive Officer. “With our predominately grocery-anchored portfolio focused on essential goods and services, we remain favorably positioned to outperform during the recovery and beyond. As we turn the corner towards relief and recovery in the months ahead, we also remember those we have lost and express our deep gratitude to the frontline workers still courageously doing their part to keep us safe.”

GUIDANCE:

Kimco Realty sees FY2021 EPS of $0.46-$0.52, versus the consensus of $0.49.

For earnings history and earnings-related data on Kimco Realty (KIM) click here.