Exhibit 12.2

Kimco Realty Corporation and Subsidiaries
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
For the year ended December 31, 2006

Pretax earnings from continuing operations before adjustment for minority interests or income loss from equity investees	$	234,186,702
Add:
Interest on indebtedness (excluding capitalized interest)		172,995,038
Amortization of debt related expenses		3,489,985
Portion of rents representative of the interest factor		6,836,053
		417,507,778
Distributed income from equity investees		152,098,895
Pretax earnings from continuing operations, as adjusted	$	569,606,673
Combined fixed charges and preferred stock dividends -
Interest on indebtedness (including capitalized interest)	$	195,735,758
Preferred dividend factor		12,219,272
Amortization of debt related expenses		1,817,385
Portion of rents representative of the interest factor		6,836,053
Combined fixed charges and preferred stock dividends	$	216,608,468
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends		2.6

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