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Kimco Realty
(NYSE:KIM)
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Rating:73Outperform
Price Target:
$24.50
â–²(1.83% 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
Leasing and Occupancy Strength
High occupancy and sustained leasing spreads demonstrate strong tenant demand for Kimco’s grocery-anchored centers. This supports recurring rent growth, improves the durability of property-level cash flows, and provides a substantial base for future same-property NOI expansion.
Negative Factors
Leverage and Debt Maturities
Meaningful leverage and upcoming maturities make refinancing execution an ongoing constraint on financial flexibility. A substantial portion of cash may be needed for maturities, potentially limiting funds available for acquisitions, redevelopment, and other value-creating uses.
Read all positive and negative factors
Positive Factors
Negative Factors
Leasing and Occupancy Strength
High occupancy and sustained leasing spreads demonstrate strong tenant demand for Kimco’s grocery-anchored centers. This supports recurring rent growth, improves the durability of property-level cash flows, and provides a substantial base for future same-property NOI expansion.
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
$14.86B
Dividend Yield4.78%
Average Volume (3M)5.40M
Price to Earnings (P/E)24.9
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. Volume4,751,924
30 Day Avg. Volume5,403,716
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 Cap1.73
Enterprise Value/Revenue11.73
Enterprise Value/Gross Profit21.39
Enterprise Value/Ebitda16.35
Forecast
1Y Price Target
$25.83Price Target Upside7.35% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering16
EPS Forecast (FY)0.84
Revenue Forecast (FY)$2.21B
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 primarily makes money by leasing retail space in its shopping centers and collecting contractual rent and related income from tenants. Its key revenue streams generally include: (1) base rent from long-term leases with retailers and service ...
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 | 1.60B | 1.26B | 1.40B | 1.08B | 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
Negative
24.06
Price Trends
23.31
Negative
24.01
Negative
22.89
Negative
Market Momentum
-0.38
Negative
36.76
Neutral
30.93
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KIM, the sentiment is Negative. The current price of 24.06 is above the 20-day moving average (MA) of 22.39, above the 50-day MA of 23.31, and above the 200-day MA of 22.89, indicating a bearish trend. The MACD of -0.38 indicates Negative momentum. The RSI at 36.76 is Neutral, neither overbought nor oversold. The STOCH value of 30.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $13.19B | 20.41 | 9.59% | 4.19% | 8.36% | 38.21% | |
74 Outperform | $8.38B | 19.23 | 14.39% | 4.51% | 5.13% | 28.20% | |
73 Outperform | $14.86B | 24.90 | 5.84% | 4.78% | 3.82% | 2.94% | |
68 Neutral | $5.30B | 32.67 | 6.24% | 3.48% | 8.07% | 106.29% | |
67 Neutral | $9.28B | 21.19 | 13.28% | 4.29% | 8.04% | 25.59% | |
66 Neutral | $4.79B | 14.76 | 11.27% | 5.46% | -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
22.16
2.07
10.30%
REG
Regency Centers
72.05
3.40
4.95%
KRG
Kite Realty Group
23.91
3.35
16.27%
FRT
Federal Realty
106.16
13.18
14.18%
BRX
Brixmor Property
27.30
1.64
6.38%
PECO
Phillips Edison & Company
37.57
5.15
15.89%
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.