Exhibit 12.1

Kimco Realty Corporation and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

For the Three Months Ended March 31, 2009

Pretax earnings from continuing operations before adjustment for
noncontrolling interests or income loss from equity investees	$	26,807,307
Add:
Interest on indebtedness (excluding capitalized interest)		47,053,936
Amortization of debt related expenses		1,467,339
Portion of rents representative of the interest factor		1,807,131
		77,135,713
Distributed income from equity investees		30,402,525
Pretax earnings from continuing operations, as adjusted	$	107,538,238
Fixed charges -
Interest on indebtedness (including capitalized interest)	$	52,689,002
Amortization of debt related expenses		603,193
Portion of rents representative of the interest factor		1,807,131
Fixed charges	$	55,099,326
Ratio of earnings to fixed charges		2.0