Kimco Realty beats quarterly estimates on steady leasing demand

April 30 (Reuters) - Kimco Realty KIM.N topped Wall Street estimates for second-quarter funds from operations and revenue on Thursday, helped by steady leasing demand at the real estate investment trust's shopping centers.

Commercial real estate firms have been able to raise rents amid limited availability of rental spaces.

Kimco has also benefited from its grocery-anchored shopping center model, with anchors such as Sprouts Farmers Market SFM.O and Albertsons ACI.N that encourage repeat purchases and frequent visits from customers.

Here are details on the REIT's earnings:

• The company's FFO, a key REIT metric, grew 4.5% in its first quarter to 46 cents per share, edging past estimates of 45 cents, according to data compiled by LSEG.

• For the three months ended March 31, the company's revenue from rental properties rose 4% to $552.8 million.

• Total revenues of $558 million beat estimates of $542.9 million.

• The company raised the lower end of its annual FFO target by 1 cent to $1.81, while maintaining its upper end at $1.84 per share.

• Comparable net operating income rose 1.7% in the quarter, helped by a 2.2% rise in minimum rents.