KIMCO REALTY (KIM) Company Report

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

Kimco Realty reports Q3 2025 results

KIM

Earnings

Guidance Update

Dividends

Q3 FFO of $300.3 M or $0.44 per diluted share, +2.3% YoY; same-site NOI up 1.9% in Q3 and 3.0% YTD; pro rata occupancy rose to 95.7%, anchor to 97%, small shop to 92.5%
Raised full-year FFO guidance to $1.75–$1.76 per share (vs. $1.73–$1.75), maintained same-site NOI growth ≥3%, and revised credit loss assumption to 75–85 bps
Ended Q3 with consolidated net debt/EBITDA of 5.3× (5.6× look-through), liquidity >$2.1 B, and board-approved quarterly dividend ↑4% to $0.26 per share
Signed-not-open pipeline at a record 360 bps totaling $71 M (20% to commence in Q4 for ~$2–$3 M rent); development/redevelopment pipeline ~$600 M (10–12% unlevered returns) and $260 M multifamily under construction

Oct 30, 2025, 12:30 PM

Transcript

Kimco Realty reports Q3 2025 results

KIM

Earnings

Dividends

Guidance Update

Reported net income available to common shareholders of $130.2 million, or $0.19 per diluted share, and FFO of $0.44 per diluted share for Q3 2025.
Pro-rata portfolio occupancy rose to 95.7%, with small shop occupancy at a record 92.5%, and the leased-to-economic occupancy spread widened to 360 bps (representing $71 million of ABR from signed leases).
Declared a 4% increase in the quarterly cash dividend to $0.26 per share, payable December 19, 2025.
Raised full-year 2025 guidance to net income of $0.77–$0.79 and FFO of $1.75–$1.76 per diluted share.
Ended the quarter with over $2.1 billion of immediate liquidity and no consolidated debt maturities until July 2026.

Oct 30, 2025, 10:55 AM

8-K

Kimco Realty outlines growth strategy at BofA Securities 2025 Global Real Estate Conference

KIM

New Projects/Investments

Kimco’s portfolio is 86% ABR grocery-anchored and 91% concentrated in top demographic corridors, anchored by a necessity-based retail strategy and disciplined balance sheet.
Small shop occupancy hit a record 92.2%, with anchor occupancy only 150 bps below its historic peak, driven by deep tenant demand and rapid deal execution (e.g., 5-store Sprouts in <1 month; multi-site TJ Maxx in 10 days).
The $66 million sign-but-not-open pipeline (88% to commence by end-2026) will contribute $45 million of NOI in 2026, largely from backfills of Party City, Joann, Big Lots and Rite Aid spaces.
Capital recycling strategy targets annual dispositions of $100–150 million in long-term ground leases to reinvest via 1031 exchanges into assets with ~50 bps higher cap rates and 200 bps higher CAGR.
Investments in best-in-class technology (Salesforce) and generative AI tools are enhancing leasing lead-generation, marketing efficiency, and keeping G&A flat despite growth.

Sep 10, 2025, 7:45 PM

Transcript

Kimco Realty Corp completes $500M 5.300% notes due 2036 offering

KIM

Debt Issuance

On June 26, 2025, Kimco Realty OP, LLC issued $500 million aggregate principal amount of 5.300% Notes due 2036, fully and unconditionally guaranteed by Kimco Realty Corporation.
The Notes bear 5.300% annual interest, paid semi-annually on February 1 and August 1, commencing February 1, 2026.
Redemption options include an optional call prior to the Par Call Date at Treasury Rate + 15 bps and 100% of principal on or after the Par Call Date.

Jun 26, 2025, 12:00 AM

8-K

Kimco announces pricing of $500 M 5.300% notes due 2036

KIM

Debt Issuance

On June 16, 2025, Kimco OP priced $500 million aggregate principal amount of 5.300% notes due February 1, 2036 at an effective yield of 5.354%, with settlement on June 26, 2025.
The notes will be fully and unconditionally guaranteed by Kimco Realty Corporation.
Net proceeds will fund general corporate purposes, including repayment of borrowings under its $2.0 billion unsecured revolving credit facility and financing acquisition, investment and redevelopment opportunities.
Joint book‐running managers for the offering included Wells Fargo Securities, BNP Paribas, PNC Capital Markets, RBC Capital Markets and Truist Securities.

Jun 17, 2025, 12:00 AM

8-K

Kimco Realty Q1 2025: Strong Earnings, Leasing & Strategic Transactions

KIM

Earnings

Guidance Update

Share Buyback

M&A

Debt Issuance

Strong Financial Performance: Reported FFO of $301.9 million (up from $261.8 million YoY) with per share FFO of $0.44 and raised full-year guidance, alongside a positive turn with net income of $125.1 million and EPS of $0.18.
Robust Leasing & NOI Growth: Signed 583 leases covering 4.4 million sq ft, achieving same-property NOI growth of 3.9% and securing strong annual base rent from grocery-anchored properties.
Active Capital Management: Repurchased 3 million shares at an average price of $19.61, repaid approximately $550 million of debt, and maintained liquidity of $2 billion with net debt to EBITDA at 5.3x.
Strategic Transactions: Acquired The Markets at Town Center in Jacksonville for $108 million and executed additional investments including senior loans in South Florida and New York, paving the way for a robust deal pipeline into Q2 2025.
Earnings Call Insights: Included forward-looking statements, outlined key risk factors, and emphasized disciplined capital allocation with a focus on diversified geographic markets in the Sun Belt and Coastal regions.

May 1, 2025, 12:31 PM

Transcript Presentation 8-K

Earnings Transcripts

Quarterly earnings call transcripts for KIMCO REALTY.

Q3 2025

Oct 30, 2025

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Q2 2025

Jul 31, 2025

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Q1 2025

May 1, 2025

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View All Transcripts

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KIMCO REALTY (KIM)

Analyst Earnings Quarterly Reports

Q3 2025

Q2 2025

Q1 2025

Q4 2024

Executives

Conor Flynn

Bruce Rubenstein

David Jamieson

Glenn Cohen

Ross Cooper

Board Members

Frank Lourenso

Henry Moniz

Mary Hogan Preusse

Nancy Lashine

Philip Coviello

Richard Saltzman

Valerie Richardson

Analyst Coverage

Alexander Goldfarb

Greg McGinniss

Juan Sanabria

Michael Goldsmith

Linda Tsai

Ronald Kamdem

Samir Khanal

Caitlin Burrows

Craig Mailman

Michael Mueller

Dori Kesten

Floris Gerbrand van Dijkum

Michael Griffin

Paulina Rojas Schmidt

Wesley Golladay

Cooper Clark

Floris van Dijkum

Haendel St. Juste

Michael Gorman

Rich Hightower

Alec Feygin

Haendel Juste

Jeffrey Spector

Linda Yu Tsai

Mike Mueller

Omotayo Okusanya

Ravi Vedi

Alexei Chen

Andrew Reale

Ki Bin Kim

Nicholas Joseph

Steve Sakwa

Sydney McEntee

Latest news

Earnings Transcripts

Q3 2025

Q2 2025

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