Kimco Realty (NYSE:KIM) Announces Earnings Results

Key Points

• Kimco reported a Q1 beat with $0.46 EPS/FFO and revenue of $558.0M, and tightened FY2026 FFO guidance to $1.81–$1.84.
• Leasing momentum was strong—576 deals covering 4.4M sq ft, ~24% new-lease spreads, and a record $77 million signed-but-not-open pipeline that supports forward FFO and occupancy gains.
• The company highlighted a stronger liquidity position and balance sheet with ~5.2x net debt/EBITDA and ~$2.2B of liquidity, and declared a quarterly dividend of $0.26 (annualized yield ~4.4%).

Kimco Realty (NYSE:KIM - Get Free Report) issued its earnings results on Thursday. The real estate investment trust reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.01, Zacks reports. Kimco Realty had a net margin of 27.32% and a return on equity of 5.49%. The company had revenue of $558.02 million for the quarter, compared to the consensus estimate of $542.73 million. During the same period in the previous year, the firm earned $0.44 earnings per share. Kimco Realty's quarterly revenue was up 4.0% compared to the same quarter last year. Kimco Realty updated its FY 2026 guidance to 1.810-1.840 EPS.

Here are the key takeaways from Kimco Realty's conference call:

• Kimco delivered a strong quarter with FFO of $0.46 (up 4.5% YoY), tightened FY FFO guidance to $1.81–$1.84, raised same-site NOI guidance to 2.8%–3.5%, and reported improved credit-loss assumptions and a stronger balance sheet with ~5.2x net debt/EBITDA and ~$2.2B liquidity.
• The company hit a new milestone with a record $77 million signed-but-not-open (SNO) pipeline (410 bps leased vs. economic spread), with $31M of projected 2026 commencements now tracking ahead of plan and weighted toward the back half of the year.
• Leasing momentum is broad-based—576 deals (4.4M sq ft) with 23.8% new-lease spreads and a record average new lease rent of ~$29/sq ft—supporting occupancy gains (small-shop occupancy ~92.5%) and continued mark-to-market upside.
• Management flagged known near-term headwinds—macroeconomic volatility (e.g., fuel price impact on consumers) and sizable 2026 refinancing activity concentrated in H2—and noted a few one-time Q1 items (non-cash GAAP rent recaptures and timing of equity grants) that affect comparability.

Kimco Realty Stock Down 1.1%

Shares of KIM stock traded down $0.26 during trading on Friday, reaching $23.39. The company's stock had a trading volume of 5,918,362 shares, compared to its average volume of 5,583,826. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.31 and a quick ratio of 3.31. The company has a market capitalization of $15.77 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 1.32 and a beta of 1.03. The stock's 50-day moving average price is $23.17 and its 200 day moving average price is $21.68. Kimco Realty has a 1-year low of $19.76 and a 1-year high of $24.31.

Kimco Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be issued a $0.26 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.4%. Kimco Realty's payout ratio is 128.40%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. grew its holdings in shares of Kimco Realty by 76.9% in the fourth quarter. Pacer Advisors Inc. now owns 95,572 shares of the real estate investment trust's stock valued at $1,937,000 after purchasing an additional 41,556 shares in the last quarter. Compound Planning Inc. grew its holdings in shares of Kimco Realty by 8.5% in the fourth quarter. Compound Planning Inc. now owns 15,012 shares of the real estate investment trust's stock valued at $304,000 after purchasing an additional 1,180 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Kimco Realty by 34.9% in the fourth quarter. Invesco Ltd. now owns 17,016,898 shares of the real estate investment trust's stock valued at $344,933,000 after purchasing an additional 4,399,959 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Kimco Realty by 6.1% in the fourth quarter. Corient Private Wealth LLC now owns 43,305 shares of the real estate investment trust's stock valued at $874,000 after purchasing an additional 2,495 shares in the last quarter. Finally, State of Tennessee Department of Treasury grew its holdings in shares of Kimco Realty by 5.4% in the fourth quarter. State of Tennessee Department of Treasury now owns 987,797 shares of the real estate investment trust's stock valued at $20,823,000 after purchasing an additional 50,779 shares in the last quarter. Institutional investors and hedge funds own 89.25% of the company's stock.

Key Kimco Realty News

Here are the key news stories impacting Kimco Realty this week:

• Positive Sentiment: Q1 outperformance — Kimco reported $0.46 EPS and beat revenue/FFO estimates, driven by higher rents and occupancy which supported top-line strength. Kimco beats Q1 FFO and revenue estimates
• Positive Sentiment: Strong leasing momentum — Kimco leased 4.4M sq ft with new lease spreads of ~24% and reported a record $77M of future ABR in its signed-but-not-open pipeline, a key driver for forward FFO. Kimco Realty Announces First Quarter 2026 Results
• Positive Sentiment: FFO beat and leasing commentary highlighted by analysts — Coverage notes FFO outperformance tied to strong leasing demand, rent growth and occupancy gains. Kimco Q1 FFO Beats Estimates on Strong Leasing
• Neutral Sentiment: Tightened FY2026 FFO guidance — Management narrowed full-year FFO guidance to $1.81–$1.84 (consensus ~$1.82), which signals confidence but offers limited upside vs. street expectations. Kimco tightens 2026 FFO outlook to $1.81-$1.84
• Neutral Sentiment: Dividend confirmed — Kimco declared a quarterly dividend of $0.26 per share (annualized yield ~4.4%), supporting the income profile for investors. (Dividend announcement: company release)

Analysts Set New Price Targets

KIM has been the subject of a number of recent analyst reports. Weiss Ratings cut shares of Kimco Realty from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Kimco Realty from a "sell" rating to a "hold" rating in a research report on Sunday, April 26th. Scotiabank lifted their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 24th. Mizuho set a $21.00 price target on shares of Kimco Realty in a research report on Friday, January 9th. Finally, Piper Sandler lifted their price target on shares of Kimco Realty from $26.00 to $28.00 and gave the company an "overweight" rating in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.80.

Kimco Realty Company Profile

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation NYSE: KIM is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company's portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco's core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.

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