S&P 500 (NYSE:SPY) component Kimco Realty Corporation (NYSE:KIM) reported its results for the third quarter. Kimco Realty is a real estate investment trust (REIT) that owns and operates neighborhood and community shopping centers. The company is primarily engaged in acquisitions, development, and management of its properties. .

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Kimco Realty Earnings Cheat Sheet for the Third Quarter

Results: Recognized Recurring Funds from Operations rose to $123.7 million (30 cents per share) vs. $114.5 million (28 cents a share) in the same quarter a year earlier. Reported FFO rose to $128.2 million or 31 cents a share from $110.5 million or 27 cents a share. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings.

Actual vs. Wall St. Expectations: KIM was about in line with the mean analyst estimate of 30 cents per share.

Looking Forward: The average estimate for the fourth quarter remains unchanged at 31 cents a share. The average estimate for the fiscal year is now $1.18 per share, down from $1.19 sixty days ago.

Competitors to Watch: Equity One, Inc. (NYSE:EQY), Glimcher Realty Trust (NYSE:GRT), Inland Real Estate Corp. (NYSE:IRC), Urstadt Biddle Properties Inc. (NYSE:UBA), Cedar Shopping Centers Inc (NYSE:CDR), Agree Realty Corporation (NYSE:ADC), The Macerich Company (NYSE:MAC), Ramco-Gershenson Properties Trust (NYSE:RPT), Realty Income Corp (NYSE:O), and Tanger Factory Outlet Centers Inc. (NYSE:SKT).

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(Source: Xignite Financials)

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