NEW HYDE PARK, NY-Kimco Realty Corp. said Wednesday afternoon its same-store NOI for the first quarter grew 4% year over year across its portfolio, representing the retail REIT’s highest quarterly increase since 2007. Funds from operations also represented a Y-O-Y gain, with the FFO of 33 cents per diluted share representing a 6.5% increase on Q1 2012. In terms of dollars, that meant $134.9 million for Q1 thius year, compared to $126.2 million for the same period the year prior.

Kimco’s same-store NOI has now grown for 12 consecutive quarters. The REIT reports same-property NOI on a cash basis, excluding lease termination fees and including charges for bad debts.

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