Bank of America Reiterates Neutral Rating, $21 PT on Kimco Realty Corp. on 2013 Guidance
In a report published Wednesday, Bank of America reiterated its Neutral rating and $21.00 price target on Kimco Realty Corp. (NYSE: KIM).
Bank of America noted, “KIM reported FFO/share of $0.31, $0.04 above BofAML estimates. FFO as adjusted was $0.33, which excludes a non-cash charge from the redemption of preferred shares. Call is 2/6 at 10am...KIM maintained its ‘13 FFO/share guidance at $1.28 - $1.33 (midpoint at $1.305). Guidance assumes +2.5-3.5% SS NOI and occupancy increase of +50 to +75bps. Our FY13E FFO/sh is $1.33, +1c above the Street at $1.32.”
Kimco Realty Corp. closed on Tuesday at $21.02.
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