Kimco Realty Corp (KIM) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2011

Exhibit 99.1

Kimco Realty Corp. Announces Fourth Quarter and Full Year 2011 Results; Reports Seventh Consecutive Quarter of Positive Same-Property Net Operating Income

NEW HYDE PARK, N.Y.--(BUSINESS WIRE)--February 8, 2012--Kimco Realty Corp. (NYSE: KIM) today reported results for the fourth quarter and year ended December 31, 2011.

Highlights for the Fourth Quarter and Full Year 2011:

• Reported funds from operations (FFO) of $135.4 million or $0.33 per diluted share and $517.2 million or $1.27 per diluted share for the fourth quarter and full year 2011, respectively, compared to $125.3 million or $0.31 per diluted share and $493.2 million or $1.21 per diluted share for the same periods in 2010;
• Recognized recurring FFO of $489.8 million or $1.20 per diluted share for the full year 2011, representing a 5 percent increase per diluted share over 2010 recurring FFO;
• Ended the quarter with gross occupancy in the combined and U.S. shopping center portfolios of 93.3 percent and 93.2 percent, respectively, representing increases of 30 basis points on a sequential basis;
• Generated positive U.S. cash-basis leasing spreads of 4.9 percent on 282 new leases, renewals and options totaling 1.3 million square feet for the quarter;
• Increased combined same-property net operating income (NOI) of 1.6 percent over the fourth quarter 2010;
• Acquired interests in 21 retail properties (17 wholly-owned and four joint ventures) comprising 3.6 million square feet for $494 million in 2011;
• Disposed of 31 non-strategic shopping centers for $158 million during the year; and
• Reduced non-retail investments by $286 million in 2011 and represent 4.5 percent of gross assets.

Financial Results

Net income available to common shareholders for the fourth quarter of 2011 was $31.6 million or $0.08 per diluted share, compared to $22.2 million or $0.05 per diluted share for the fourth quarter of 2010. The change in year-over-year net income available to common shareholders is primarily related to the following items (in millions):