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Kimco Realty
(NYSE:KIM)
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Rating:73Outperform
Price Target:
$28.00
â–²(7.28% Upside)
Action:Reiterated
Date:08/05/26
KIM scores well on financial quality and recent cash-flow strength, reinforced by a positive earnings update (raised FFO guidance, improved NOI outlook, strong leasing/occupancy and a higher dividend). The main constraints on the score are softer near-term technical momentum and a valuation profile that looks income-friendly (4%+ yield) but expensive on P/E, alongside ongoing leverage and refinancing/transaction-timing risks.
Positive Factors
Stable, grocery-anchored retail portfolio
Kimco’s core portfolio of grocery‑anchored, open‑air shopping centers produces durable contractual base rent and tenant reimbursements. Long leases, diversified national/regional tenants and staple‑driven traffic reduce volatility versus other commercial sectors, supporting steady NOI and cash flows over the medium term.
Negative Factors
Meaningful leverage and upcoming maturities
Kimco’s leverage metrics are meaningful for a retail REIT and several 2026 maturities concentrate refinancing needs. Even with ample liquidity, elevated net debt/EBITDA limits financial flexibility, raises refinancing and interest‑rate sensitivity, and can force issuance or asset sales if markets tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable, grocery-anchored retail portfolio
Kimco’s core portfolio of grocery‑anchored, open‑air shopping centers produces durable contractual base rent and tenant reimbursements. Long leases, diversified national/regional tenants and staple‑driven traffic reduce volatility versus other commercial sectors, supporting steady NOI and cash flows over the medium term.
Read all positive factors
Kimco Realty Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breakdown of revenue by source—such as rent, management fees, and joint-venture income—showing which parts of the business drive cash flow and which are more cyclical or one-time. Useful to assess concentration risk and where future growth is coming from.
Breakdown of revenue by source—such as rent, management fees, and joint-venture income—showing which parts of the business drive cash flow and which are more cyclical or one-time. Useful to assess concentration risk and where future growth is coming from.
Data provided by:
The Fly
The FlyKimco Realty (KIM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$16.37B
Dividend Yield4.23%
Average Volume (3M)4.49M
Price to Earnings (P/E)27.4
Beta (1Y)0.61
Revenue Growth3.82%
EPS Growth2.94%
CountryUS
Employees710
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)0.89
Shares Outstanding670,789,370
10 Day Avg. Volume3,711,057
30 Day Avg. Volume4,489,509
Financial Highlights & Ratios
PEG Ratio0.48
Price to Book (P/B)1.31
Price to Sales (P/S)6.38
P/FCF Ratio17.69
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$27.02Price Target Upside3.51% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering18
EPS Forecast (FY)0.83
Revenue Forecast (FY)$2.20B
Kimco Realty Business Overview & Revenue Model
Company Description
Kimco Realty Corporation (NYSE:KIM), headquartered in Jericho, N.Y., operates as a real estate investment trust (REIT). It stands as one of North America's preeminent publicly traded entities dedicated to the ownership and operation of open-air, g...
How the Company Makes Money
Kimco Realty makes money primarily by generating recurring rental revenue from leasing space in its shopping center portfolio. Its key revenue streams typically include: (1) Base rent: contractual rent paid by retail tenants under long-term leases...
Kimco Realty Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call emphasized multiple strong operational and financial positives: clear leasing momentum (record small-shop occupancy, high new-leasing spreads), accelerating same-store NOI, improved credit losses, demonstrated capital recycling that materially upsized portfolio growth profile, sizable liquidity and a diversified financing event (3.5% exchangeable notes). Management also launched One Kimco and technology/AI initiatives expected to improve productivity and accelerate SNO conversion. Near-term headwinds include timing of transactional deployment, a competitive acquisition market with cap-rate compression, Painted Tree bankruptcy impacts, and leverage/maturity management. Overall, the positive operational execution and accretive capital recycling materially outweigh the manageable near-term challenges, indicating a favorable outlook.Positive Updates
FFO and Earnings Growth
FFO for Q2 was $309.2M or $0.46 per diluted share, up 4.5% year-over-year; raised the lower end of full-year 2026 FFO guidance to $1.83 (from $1.81) while maintaining the top end at $1.84.
Negative Updates
Painted Tree Bankruptcy Impact
Painted Tree lease rejections negatively impacted results: ~16 basis points reduction to overall occupancy and ~23 basis points hit to anchor occupancy quarter-over-quarter, creating near-term headwinds to occupancy metrics.
Read all updates
Q2-2026 Updates
Positive
Negative
FFO and Earnings Growth
FFO for Q2 was $309.2M or $0.46 per diluted share, up 4.5% year-over-year; raised the lower end of full-year 2026 FFO guidance to $1.83 (from $1.81) while maintaining the top end at $1.84.
Read all positive updates
Company Guidance
Kimco raised the lower end of its 2026 FFO guidance to $1.83 (maintaining the $1.84 top end), implying roughly 4%–4.5% FFO growth, and boosted its same‑property NOI outlook to 3.0%–3.5% (up from 2.8%–3.5%), while tightening the credit‑loss assumption to 55–75 bps (from 65–90 bps) and lowering assumed interest‑expense/preferred‑dividend costs; management also highlighted a $95 million SNO pipeline (≈$75 million incremental, 48% expected to commence by year‑end) with $33 million of rent projected in 2026 (up 16% vs. prior estimate, $24M already opened H1/$9M H2), Q2 FFO of $0.46 (+4.5% YoY) and same‑property NOI of 3.5%, a new quarterly common dividend of $0.28 ($1.12 annualized, +12% YoY), $2.7 billion total liquidity (including $700M cash), consolidated net debt/EBITDA ~5.2x (5.5x look‑through), and recent capital actions including a $600M 3.5% exchangeable note issue and ~4.1M common‑share repurchase for $104.7M.Kimco Realty Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
71
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.19B | 2.14B | 2.04B | 1.78B | 1.73B | 1.36B |
| Gross Profit | 1.20B | 1.17B | 1.40B | 1.23B | 1.20B | 946.67M |
| EBITDA | 1.57B | 1.62B | 1.26B | 1.40B | 1.06B | 1.34B |
| Net Income | 606.49M | 584.10M | 410.79M | 654.27M | 125.98M | 844.06M |
Balance Sheet | ||||||
| Total Assets | 20.03B | 19.69B | 20.31B | 18.27B | 17.83B | 18.46B |
| Cash, Cash Equivalents and Short-Term Investments | 700.38M | 212.79M | 690.91M | 1.11B | 744.70M | 1.54B |
| Total Debt | 8.74B | 8.64B | 8.58B | 7.73B | 7.27B | 7.60B |
| Total Liabilities | 9.61B | 9.12B | 9.46B | 8.55B | 8.09B | 8.34B |
| Stockholders Equity | 10.27B | 10.39B | 10.65B | 9.53B | 9.52B | 9.90B |
Cash Flow | ||||||
| Free Cash Flow | 857.45M | 772.40M | 681.16M | 807.21M | 861.11M | 618.88M |
| Operating Cash Flow | 1.18B | 1.12B | 1.01B | 1.07B | 861.11M | 618.88M |
| Investing Cash Flow | -272.57M | -376.67M | -318.54M | -136.98M | -63.22M | -476.26M |
| Financing Cash Flow | -433.98M | -1.22B | -781.11M | -300.70M | -982.73M | -101.14M |
Kimco Realty Technical Analysis
Neutral
26.10
Price Trends
25.21
Negative
24.19
Positive
22.49
Positive
Market Momentum
-0.30
Positive
39.38
Neutral
28.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KIM, the sentiment is Neutral. The current price of 26.1 is above the 20-day moving average (MA) of 25.16, above the 50-day MA of 25.21, and above the 200-day MA of 22.49, indicating a neutral trend. The MACD of -0.30 indicates Positive momentum. The RSI at 39.38 is Neutral, neither overbought nor oversold. The STOCH value of 28.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for KIM.
Kimco Realty Risk Analysis
Kimco Realty disclosed 41 risk factors in its most recent earnings report. Kimco Realty reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Kimco Realty Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $9.20B | 20.96 | 14.39% | 3.73% | 5.13% | 28.20% | |
74 Outperform | $14.05B | 21.95 | 9.59% | 3.62% | 8.36% | 38.21% | |
73 Outperform | $16.37B | 27.37 | 5.84% | 3.95% | 3.82% | 2.94% | |
73 Outperform | $8.83B | 22.63 | 8.70% | 4.86% | 6.54% | -3.45% | |
71 Outperform | $10.35B | 23.56 | 13.28% | 3.59% | 8.04% | 25.59% | |
66 Neutral | $5.30B | 16.35 | 11.27% | 4.38% | -5.84% | 395.39% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% |
* Real Estate Sector Average
KIM
Kimco Realty
24.22
3.49
16.86%
NNN
NNN REIT
45.83
6.48
16.47%
REG
Regency Centers
76.19
7.23
10.49%
KRG
Kite Realty Group
26.44
5.40
25.68%
FRT
Federal Realty
117.48
24.79
26.75%
BRX
Brixmor Property
29.62
3.75
14.50%
Kimco Realty Corporate Events
Private Placements and Financing
Kimco Realty Issues Private Exchangeable Notes to Institutions
Neutral
Jun 15, 2026
Kimco Realty has privately issued a series of exchangeable notes to initial purchasers under an exemption from public registration, with the securities placed with qualified institutional buyers under Rule 144A of the Securities Act. The notes may...
Business Operations and StrategyStock BuybackPrivate Placements and Financing
Kimco Realty Prices $500 Million Exchangeable Senior Notes
Positive
Jun 11, 2026
On June 10, 2026, Kimco Realty’s operating subsidiary, Kimco Realty OP, LLC, announced a proposed private offering of $500 million of senior unsecured exchangeable notes due 2031, guaranteed by Kimco Realty and marketed to qualified institut...
Executive/Board ChangesShareholder Meetings
Kimco Realty Shareholders Back Board, Pay and Auditor
Positive
May 22, 2026
At its annual meeting of stockholders held on May 21, 2026, Kimco Realty shareholders elected nine nominees, including executives and independent directors, to serve on the board until the next annual meeting, reflecting broad but not unanimous in...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.