Kimco Realty Corp
NYSE:KIM
Kimco Realty Corp
Kimco Realty Corp., rooted in the suburbs of New York City since its founding in 1966, has grown into one of America's largest publicly traded owners and operators of open-air, grocery-anchored shopping centers. This transformation stems not from rapid, flashy maneuvers but through astute, long-term strategic evolution. At its core, Kimco translates the bustling dynamics of community marketplaces into enduring value. By acquiring, developing, and managing prime retail real estate, the company creates vibrant local hubs where people shop, dine, and connect. Each location is carefully selected for its high-traffic potential and demographic appeal, ensuring a steady flow of foot traffic that supports both national retail chains and local businesses alike.
Kimco's financial health is powered by stable rental income from a diversified tenant mix that often includes leading national grocers and popular lifestyle brands. This diversification minimizes risk and fortifies its revenue streams, acting as a buffer against economic fluctuations. Kimco leverages its vast portfolio not only as a landlord but also as a proactive partner, working closely with its tenants to optimize their spaces and drive mutual success. By focusing on grocery-anchored centers, which tend to be less vulnerable to e-commerce encroachment, Kimco maintains an edge in the increasingly digital retail landscape. Additionally, its commitment to sustainability and revitalizing local communities enhances its reputation, attracting socially conscious investors and tenants who appreciate its strategic and conscientious approach.
Kimco Realty Corp., rooted in the suburbs of New York City since its founding in 1966, has grown into one of America's largest publicly traded owners and operators of open-air, grocery-anchored shopping centers. This transformation stems not from rapid, flashy maneuvers but through astute, long-term strategic evolution. At its core, Kimco translates the bustling dynamics of community marketplaces into enduring value. By acquiring, developing, and managing prime retail real estate, the company creates vibrant local hubs where people shop, dine, and connect. Each location is carefully selected for its high-traffic potential and demographic appeal, ensuring a steady flow of foot traffic that supports both national retail chains and local businesses alike.
Kimco's financial health is powered by stable rental income from a diversified tenant mix that often includes leading national grocers and popular lifestyle brands. This diversification minimizes risk and fortifies its revenue streams, acting as a buffer against economic fluctuations. Kimco leverages its vast portfolio not only as a landlord but also as a proactive partner, working closely with its tenants to optimize their spaces and drive mutual success. By focusing on grocery-anchored centers, which tend to be less vulnerable to e-commerce encroachment, Kimco maintains an edge in the increasingly digital retail landscape. Additionally, its commitment to sustainability and revitalizing local communities enhances its reputation, attracting socially conscious investors and tenants who appreciate its strategic and conscientious approach.
FFO Growth: Kimco delivered NAREIT FFO per share growth of 6.7% in 2025, and guided to another 2.3–4.5% increase in 2026.
Record Leasing Activity: Achieved highest quarterly new leasing volume in a decade, with 1.2 million square feet leased and small shop occupancy at an all-time high of 92.7%.
Strong Balance Sheet: Earned a Moody's credit upgrade to A-, joining an elite group of REITs with multiple A-/A3 ratings and maintaining net debt to EBITDA of 5.4x.
Capital Recycling: Announced plans to sell $300–$500 million of lower-growth assets, mainly ground leases, to reinvest in higher-yielding shopping centers and share repurchases.
Operational Efficiency: Undertaking organizational realignment and digital transformation to cut $3 million from G&A expenses in 2026 and drive further efficiencies.
Robust Guidance: 2026 FFO per share guided at $1.80–$1.84, with same-property NOI growth of 2.5%–3.5%, supported by a record signed-not-open pipeline.
Healthy Tenant Demand: Tenant credit profile is strong; 87% of expiring 2026 base rent already resolved or in process, supporting high retention rates.
Dividend Outlook: Free cash flow of over $165 million after dividends and leasing costs in 2025 supports a well-covered and growing dividend.
