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SUPPLEMENTAL FINANCIAL INFORMATION QUARTER ENDED SEPTEMBER 30, 2017 3333 New Hyde Park Road New Hyde Park, NY 11042 Tel: 516-869-9000 kimcorealty.com Supplemental Financial Information Quarter Ended September 30, 2017 Table of Contents Third Quarter 2017 Earnings Release…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………i - xii Glossary of Terms……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….……….1 Financial Summary Condensed Consolidated Balance Sheets………………………………………………………………………………………………………………………………………………………………………………………………………….3 Condensed Consolidated Statements of Operations…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….4 Non-GAAP Measures Reconciliation of Net Income Available to the Company’s Common Shareholders to FFO and FFO as Adjusted Available to the Company's Common Shareholders…………………………..……………………………………………………………………………………………………………………5 Reconciliation of Net Income to EBITDA………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………6 NOI Disclosures……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………7 Same Property NOI……………………………………………………………………………………………………………………………………………………………………………………………………………………8 Selected Balance Sheet Account Detail……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………9 Debt Summary Capitalization and Financial Ratios………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………11 Bond Indebtedness Covenant Disclosure………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………12 Line of Credit Covenant Disclosure………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………13 Schedule of Consolidated Debt……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………14 Consolidated Debt Detail…………………………………………………………………………………………………………………………………………………………...15-16 Schedule of Real Estate Joint Venture Debt………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………17 Real Estate Joint Venture Debt Detail…………………………………………………………………………………………………………………………………………………………...18-19 Transaction Summary 2017 Shopping Center Transactions………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………21-22 Real Estate Under Development…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………23 Redevelopment / Expansion Projects……………………..………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………24 Capital Expenditures………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………25 Shopping Center Portfolio Summary Shopping Center Portfolio Overview………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………27 Top 50 Tenants (Ranked by ABR)…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………28 MSA Profile Ranked by Population……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………29 Operating Real Estate Leasing Summary…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………30 Lease Expiration Schedule…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………31 Joint Venture Summary Joint Venture Summary…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………33 Selected Pro-rata Data…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………34 Guidance and Valuation Summary 2017 FFO Matrix……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………36 2017 Guidance and Assumptions…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………37 Components of Net Asset Value……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………38 Research Coverage/Rating Agency Coverage………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………39 Safe Harbor Statement The statements in this news release state the company's and management's intentions, beliefs, expectations or projections of the future and are forward-looking statements. It is important to note that the company's actual results could differ materially from those projected in such forward-looking statements. 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 and management's ability to estimate the impact thereof, (vii) risks related to our international operations, (viii) the availability of suitable acquisition, disposition and redevelopment opportunities, (ix) valuation and risks related to our joint venture and preferred equity investments, (x) valuation of marketable securities and other investments, (xi) increases in operating costs, (xii) changes in the dividend policy for the company’s common stock, (xiii) the reduction in the company’s income in the event of multiple lease terminations by tenants or a failure by multiple tenants to occupy their premises in a shopping center, (xiv) impairment charges and (xv) unanticipated changes in the company’s intention or ability to prepay certain debt prior to maturity and/or hold certain securities until maturity. Additional information concerning factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the company's Securities and Exchange Commission filings. Copies of each filing may be obtained from the company or the Securities and Exchange Commission. The company refers you to the documents filed by the company from time to time with the Securities and Exchange Commission, specifically the section titled "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 31, 2016, as may be updated or supplemented in the company’s Form 10-Q filings, which discuss these and other factors that could adversely affect the company's results. Listed on the New York Stock Exchange (KIM) NEWS RELEASE Kimco Realty Reports Third Quarter 2017 Results Solid Operating Performance Leads Board to Approve Increase in Common Stock Dividend; Company Adds a New Signature Series Asset with the Acquisition of Whittwood Town Center NEW HYDE PARK, New York, October 25, 2017 - Kimco Realty Corp. (NYSE: KIM) today reported results for the third quarter ended September 30, 2017. Highlights: Net income available to the company’s common shareholders increased to $102.0 million during the third quarter of 2017 compared to a net loss available to the company’s common shareholders of $(55.1) million during the same period in 2016. Pro-rata occupancy increased to 95.8%, up 30 basis points sequentially and 70 basis points year over year. Leasing spreads increased 16.0%, with new leases and renewals/options up 52.0% and 8.1%, respectively. Same property net operating income (NOI) for the third quarter grew 3.1% over the same period in 2016. Completed $1.1 billion in capital market transactions: i) a $500 million unsecured bond due 2025 at 3.30%; ii) a $350 million unsecured bond due 2047 at 4.45%; and iii) $225 million of perpetual preferred stock at 5.125%. Board increased quarterly common stock cash dividend approximately 4% to $0.28 per share (equivalent to $1.12 per annum). Subsequent to the quarter, acquired Whittwood Town Center, a 783,000-square-foot, 98% occupied grocery-anchored open-air shopping center in the densely populated Los Angeles suburb of Whittier, California. Financial Results Net Income available to the company’s common shareholders was $102.0 million, or $0.24 per diluted share, compared to a net loss available to the company’s common shareholders of $(55.1) million, or $(0.13) per diluted share, for the third quarter of 2016. The increase was due to: $43.9 million of lower charges related to the early extinguishment of debt and $29.1 million* of higher gains on sales of operating properties, net of impairments in the third quarter of 2017 compared to the same period in 2016. $63.5 million non-cash charge for the merger of the company’s taxable REIT subsidiary (TRS) in the third quarter 2016. $10.0 million net cumulative foreign currency translation gain related to the company’s strategic exit from Canada, offset by a $7.0 million charge for the partial redemption of the 6.000% Series I Cumulative Redeemable Preferred Stock (Series I Preferred Stock) in the third quarter of 2017. *Amounts shown before any impact from taxes and