Exhibit 12.2

Kimco Realty Corporation and Subsidiaries

Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

For the twelve months ended, December 31, 2011

Pretax earnings from continuing operations before adjustment for noncontrolling interests or income loss from equity investees	$	80,547,857
Add:
Interest on indebtedness (excluding capitalized interest)		223,473,216
Amortization of debt related expenses		9,746,436
Portion of rents representative of the interest factor		7,983,136
		321,750,645
Distributed income from equity investees		163,047,852
Pretax earnings from continuing operations, as adjusted	$	484,798,497
Combined fixed charges and preferred stock dividends -
Interest on indebtedness (including capitalized interest)	$	230,554,127
Preferred dividend factor		65,920,019
Amortization of debt related expenses		5,271,946
Portion of rents representative of the interest factor		7,983,136
Combined fixed charges and preferred stock dividends	$	309,729,228
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends		1.57

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