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, 2005

Pretax earnings from continuing operations before adjustment for minority interests or income loss from equity investees	$	235,151,847
Add:
Interest on indebtedness (excluding capitalized interest)		126,657,467
Amortization of debt related expenses		4,293,975
Portion of rents representative of the interest factor		6,004,270
		372,107,559
Distributed income from equity investees		116,765,424
Pretax earnings from continuing operations, as adjusted	$	488,872,983
Combined fixed charges and preferred stock dividends -
Interest on indebtedness (including capitalized interest)	$	139,244,090
Preferred dividend factor		12,029,524
Amortization of debt related expenses		3,028,118
Portion of rents representative of the  interest factor		6,004,270
Combined fixed charges and preferred stock dividends	$	160,306,002
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends		3.0

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