Kimco Realty Corporation (Exact Name of Registrant As Specified in Its Charter)

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Kimco Realty Corporation (Exact Name of Registrant As Specified in Its Charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2011 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 1-10899 Kimco Realty Corporation (Exact name of registrant as specified in its charter) Maryland 13-2744380 (State or other jurisdiction of incorporation (I.R.S. Employer Identification No.) or organization) 3333 New Hyde Park Road, New Hyde Park, NY 11042-0020 (Address of principal executive offices) (Zip Code) (516) 869-9000 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on Title of each class which registered Common Stock, par value $.01 per share. New York Stock Exchange Depositary Shares, each representing one-tenth of a share of 6.65% Class F Cumulative Redeemable New York Stock Exchange Preferred Stock, par value $1.00 per share. Depositary Shares, each representing one-hundredth of a share of 7.75% Class G Cumulative Redeemable Preferred New York Stock Exchange Stock, par value $1.00 per share. Depositary Shares, each representing one-hundredth of a share of 6.90% Class H Cumulative Redeemable Preferred New York Stock Exchange Stock, par value $1.00 per share. Securities registered pursuant to section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes No Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer,” “accelerated filer" and “smaller reporting company” in Rule 12b-2 of the Exchange Act. Large accelerated filer Accelerated filer Non-accelerated filer Smaller reporting company (Do not check if a smaller reporting company.) Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant was approximately $7.3 billion based upon the closing price on the New York Stock Exchange for such equity on June 30, 2011. (APPLICABLE ONLY TO CORPORATE REGISTRANTS) Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date. 406,978,546 shares as of February 15, 2012. DOCUMENTS INCORPORATED BY REFERENCE Part III incorporates certain information by reference to the Registrant's definitive proxy statement to be filed with respect to the Annual Meeting of Stockholders expected to be held on May 1, 2012. Index to Exhibits begins on page 34. TABLE OF CONTENTS Form 10-K Report Item No. Page PART I 1. Business ............................................................................................................................................................................... 2 1A. Risk Factors........................................................................................................................................................................ 4 1B. Unresolved Staff Comments ................................................................................................................................... 9 2. Properties ........................................................................................................................................................................... 9 3. Legal Proceedings .......................................................................................................................................................... 10 4. Mine Safety Disclosures .............................................................................................................................................. 10 PART II 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities ............................................................................................ 11 6. Selected Financial Data ............................................................................................................................................... 13 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations ..................................................................................................................................... 13 7A. Quantitative and Qualitative Disclosures About Market Risk............................................................... 30 8. Financial Statements and Supplementary Data.............................................................................................. 31 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure .......................................................................................................................................... 31 9A. Controls and Procedures .......................................................................................................................................... 31 9B. Other Information ......................................................................................................................................................... 31 PART III 10. Directors, Executive Officers and Corporate Governance..................................................................... 32 11. Executive Compensation ........................................................................................................................................... 32 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters ......................................................................................................................................... 32 13. Certain Relationships and Related Transactions, and Director Independence ............................ 32 14. Principal Accounting Fees and Services............................................................................................................. 32 PART IV 15. Exhibits, Financial Statement Schedules............................................................................................................. 33 1 FORWARD-LOOKING STATEMENTS This annual report on Form 10-K (“Form 10-K”), together with other statements and information publicly disseminated by Kimco Realty Corporation (the “Company”) contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward- looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with the safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, are generally identifiable by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project” or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and could materially affect actual results, performances or achievements. Factors which may cause actual results to differ materially from current expectations include, but are not limited to (i) general adverse economic and local real estate conditions, (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iii) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on favorable terms, (iv) the Company’s ability to raise capital by selling its assets, (v) changes in governmental laws and regulations, (vi) the level and volatility of interest rates and foreign currency exchange rates, (vii) the availability
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