KIMCO REALTY (KIM) Company Report

Achieved record-high portfolio occupancy of 96.4% and small shop occupancy of 92.7% in Q4 2025, driving leasing momentum.
Delivered FFO per share of $1.76, up 6.7% year-over-year, and provided 2026 FFO guidance of $1.80–$1.84 per share.
Maintained a strong balance sheet with net debt to EBITDA of 5.7x, $2.2 billion of liquidity, and generated a 9% yield on common stock repurchases in 2025.
Signed-not-open pipeline reached $73 million of ABR, with 70% expected online in 2026, and projected blended yields of 19% on redevelopment and 11% on anchor repositioning in 2026.

Feb 12, 2026, 1:30 PM

Presentation

Kimco Realty announces Q4 and full-year 2025 results

KIM

Earnings

Guidance Update

Q4 2025 FFO was $294.3 million or $0.44 per diluted share, up 4.8% year-over-year; full-year FFO was $1.2 billion or $1.76 per diluted share, a 6.7% increase versus 2024.
Portfolio occupancy reached 96.4%, matching its all-time high, with small shop occupancy at a record 92.7%; same-property NOI grew 3% for both Q4 and the full year.
Achieved a record 1.2 million sq ft of new leasing in Q4 and built a signed-but-not-open NOI pipeline of 390 bps (~$73 million ABR).
Ended 2025 with $2.2 billion of immediate liquidity (including $213 million cash and full availability on a $2 billion revolver), consolidated net debt/EBITDA of 5.4x, and secured an A-minus unsecured debt rating from Moody’s.
2026 outlook targets FFO per share of $1.80–$1.84 (up 2.3%–4.5%) and same-property NOI growth of 2.5%–3.5%, with first-quarter NOI marking the year’s low point.

Feb 12, 2026, 1:30 PM

Transcript

Kimco Realty reports Q4 2025 results

KIM

Earnings

Guidance Update

FFO for Q4 was $294.3 million or $0.44 per share (+4.8% y/y); full-year 2025 FFO was $1.2 billion or $1.76 per share (+6.7% y/y)
Record leasing: 1.2 million sq ft of new leases; anchor occupancy up 90 bps sequential; small-shop occupancy at 92.7%; SNO pipeline at 390 bps (≈$73 million ABR)
Strong liquidity with $2.2 billion available; net debt/EBITDA of 5.4×; Moody’s upgraded unsecured debt rating to A3
2026 guidance: FFO per share of $1.80–$1.84 (+2.3%–4.5%); same-property NOI growth of 2.5%–3.5%

Feb 12, 2026, 1:30 PM

Transcript

Kimco Realty reports Q4 2025 earnings and strong operational metrics

KIM

Earnings

Guidance Update

Share Buyback

Kimco delivered Q4 FFO of $294.3 million ($0.44/share), up 4.8% Y/Y; FY FFO of $1.2 billion ($1.76/share), up 6.7%; same-store NOI grew 3% for both Q4 and the full year.
Portfolio occupancy remained high at 96.4%, small shop occupancy at 92.7%, with 1.2 million sq ft of new leases in Q4; SNO pipeline reached 390 bps (~$73 million ABR).
Ended Q4 with $2.2 billion of liquidity (including $213 million cash), consolidated net debt/EBITDA of 5.4x (5.7x look-through); secured an A3 rating from Moody’s and established a commercial paper program.
2026 outlook: FFO per share of $1.80–$1.84 (2.3–4.5% growth) and same-store NOI growth of 2.5–3.5%.
Q4 share repurchases totaled $3.1 million at $19.96/share (full year $6.1 million at $19.79/share); capital recycling via asset sales and redevelopments remains a priority.

Feb 12, 2026, 1:30 PM

Transcript

Kimco Realty announces Q4 and full year 2025 results

KIM

Earnings

Share Buyback

Guidance Update

Reported Q4 2025 net income per diluted share of $0.21 and FFO per diluted share of $0.44, up 4.8% year-over-year; full year FFO per share rose 6.7% to $1.76.
Achieved record pro-rata portfolio occupancy of 96.4%, with small shop occupancy at 92.7%.
Repurchased 3.1 million shares in Q4 at a weighted average price of $19.96 and acquired The Shoppes at 82nd Street for $74.0 million.
Provided 2026 outlook of $0.80–$0.84 net income per share and $1.80–$1.84 FFO per share.

Feb 12, 2026, 11:56 AM

8-K

Kimco Realty announces fourth quarter and full year 2025 results

KIM

Earnings

Guidance Update

Share Buyback

Generated 4.8% growth in FFO per diluted share in Q4 2025 to $0.44, and 6.7% growth for the full year to $1.76; net income per diluted share was $0.21 in Q4 and $0.82 for the full year.
Achieved 3.0% year-over-year increase in same property NOI for both Q4 and the full year, with pro-rata portfolio occupancy at an all-time high of 96.4% and small shop occupancy at 92.7%.
Repurchased 3.1 million shares in Q4 at an average price of $19.96, bringing total 2025 buybacks to 6.1 million shares at $19.79, and declared a 4.0% higher quarterly dividend of $0.26 per common share.
Provided 2026 outlook of $0.80–$0.84 net income per diluted share and $1.80–$1.84 FFO per diluted share.

Feb 12, 2026, 11:50 AM

Press Release

Kimco Realty announces $750M ATM equity program and new $750M share repurchase program

KIM

Share Buyback

Kimco Realty established an “at the market” equity offering program to sell up to $750 million of its common stock through multiple agents and forward sellers, replacing its prior equity sales agreement.
The company’s Board approved a new $750 million share repurchase program, superseding the prior repurchase plan; shares may be bought via open market or negotiated transactions at management’s discretion.

Nov 4, 2025, 2:49 AM

8-K

Kimco Realty reports strong Q3 2025 leasing and financial results

KIM

Earnings

Kimco derived 82% of annual base rent from top major metropolitan markets and 86% from grocery-anchored centers, with 91% of ABR in Sun Belt/coastal regions.
The company recorded 59 consecutive quarters of positive leasing spreads, with TTM net effective rents up +9%, anchor spreads +49%, and small shop spreads +20%.
Financial metrics remain robust: look-through net debt/EBITDA of 5.6x, fixed charge coverage of 4.2x, $2.1B+ liquidity, 99.4% fixed-rate debt, and no maturities until July 2026.
A $71M Signed Not Opened pipeline is expected to contribute ~$31M in cash flow in 2025 and $37M in 2026.
In January 2024, Kimco closed a $2.2B RPT acquisition at an ~8.5% cap rate, delivering $36M cost synergies and occupancy gains of 70bps (overall) and 280bps (small shop).

Oct 30, 2025, 12:30 PM

Presentation

Kimco Realty reports Q3 2025 results

KIM

Earnings

Guidance Update

Dividends

Delivered FFO of $300.3 million or $0.44 per diluted share (up 2.3% y/y) and raised full-year FFO guidance to $1.75–$1.76 per share (from $1.73–$1.75).
Achieved same-site NOI growth of 1.9% in Q3 and 3.0% YTD, and maintained full-year same-site NOI growth outlook of ≥3%.
Record signed-not-open pipeline at 360 bps/$71 million, with ~20% starting in Q4 (adding $2–3 million) and 60% slated for 2026.
Development/redevelopment pipeline of $600 million (including $250 million activated), featuring 25 grocery-anchored projects targeting 10–12% unlevered returns and $260 million in multifamily construction.
Strong balance sheet with net debt/EBITDA of 5.3x (5.6x look-through), liquidity > $2.1 billion, S&P & Fitch rating of A- (Moody’s Baa1), and a 4% dividend increase to $0.26 per quarter.

Oct 30, 2025, 12:30 PM

Transcript

Kimco Realty reports Q3 2025 results

KIM

Earnings

Guidance Update

New Projects/Investments

FFO of $0.44 per diluted share in Q3, driving a raised full-year FFO outlook.
Same-site NOI rose 1.9% in Q3 (3% YTD); occupancy improved to 95.7% overall, 97% for anchors, and 92.5% for small shops.
427 leases totaling 2.3 million sq ft signed this quarter, with a record $71 million of future incremental rent growth and an 11% blended leasing spread YTD.
Elevated ~$250 million in redevelopment projects to active status, bringing a $600 million pipeline targeting 10–12% unlevered returns; $260 million multifamily pipeline underway.
Launched an Office of Innovation and Transformation to centralize digital, AI, and operational improvement efforts under a new leader.

Oct 30, 2025, 12:30 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for KIMCO REALTY.

Q4 2025

Feb 12, 2026

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Q3 2025

Oct 30, 2025

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Q2 2025

Jul 31, 2025

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View All Transcripts

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KIMCO REALTY (KIM)

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