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Kimco Lowers Earnings Estimates For 2009

Stock quotes in this article: KIM  

NEW HYDE PARK, N.Y. (AP) — Strip mall operator Kimco Realty Corp. on Thursday lowered its earnings forecast for 2009 and said it expects to slash its dividend in the second half of the year.

The company estimates that its funds from operations — the key measurement of performance for real estate investment trusts — will be between $1.70 and $1.85 per share for the year.

Kimco had already issued an adjusted FFO guidance in February of of $1.70 to $1.90 per share for 2009. ...

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