Kimco Funds From Operations Fall 28 Percent In 1Q

For the first quarter, net income was $26.6 million, or 10 cents per share, down 69 percent from $86.6 million, or 34 cents per share, a year earlier.

Analysts expected earnings of 14 cents per share.

The company noted that it repaid $130 million of its medium-term notes. Since the start of the year, it also obtained approximately $212 million in secured debt commitments. That helped send shares up 87 cents, or 8 percent, to $12.20 in midday trading.