Kimco Realty (NYSE:KIM) Announces Quarterly Earnings Results

Key Points

• Kimco Realty exceeded second-quarter expectations: Revenue rose 4.9% year over year to $550.8 million, while EPS came in at $0.46 versus the $0.20 analyst consensus.
• Leasing momentum remained strong, lifting portfolio occupancy to a record 96.4% and same-property NOI by 3.5%; new-lease spreads reached 40.4%.
• Management raised its 2026 outlook to $1.83-$1.84 EPS, increased the quarterly dividend 12% to $0.28 per share, and lifted same-property NOI guidance to 3.0%-3.5%, though transaction timing and a projected $3.8 million third-quarter charge pose near-term risks.

Kimco Realty (NYSE:KIM - Get Free Report) posted its quarterly earnings data on Tuesday. The real estate investment trust reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.26, Zacks reports. Kimco Realty had a net margin of 28.54% and a return on equity of 5.82%. The business had revenue of $550.80 million for the quarter, compared to analysts' expectations of $543.75 million. The business's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. Kimco Realty updated its FY 2026 guidance to 1.830-1.840 EPS.

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

• Strong second-quarter performance: FFO per diluted share rose 4.5% year over year to $0.46, while same-property NOI increased 3.5%; credit losses also improved to 57 basis points from 89 basis points.
• Leasing demand remained robust, with 40.4% spreads on new leases, 19 consecutive quarters of double-digit new leasing spreads, record small-shop occupancy of 92.9%, and overall portfolio occupancy of 96.4%.
• Kimco raised its full-year 2026 FFO outlook floor to $1.83 per share, increased same-property NOI guidance to 3.0%-3.5%, and lifted its quarterly dividend 12% year over year to $0.28 per share.
• Management is using capital recycling to sell lower-growth assets and reinvest in higher-growth grocery-anchored centers, including two South Florida acquisitions; it expects further multifamily and ground-lease monetizations.
• The pace and earnings impact of transactions remain dependent on timing, with dispositions front-loaded in the first half and acquisitions expected to ramp later; a preferred-stock transaction is also expected to create an approximately $3.8 million third-quarter charge.

Kimco Realty Trading Down 0.5%

Shares of NYSE KIM traded down $0.14 during trading hours on Tuesday, reaching $25.27. The stock had a trading volume of 3,675,626 shares, compared to its average volume of 5,245,578. Kimco Realty has a 52-week low of $19.76 and a 52-week high of $26.65. The firm has a market cap of $17.04 billion, a price-to-earnings ratio of 29.37, a P/E/G ratio of 2.80 and a beta of 0.95. The business's fifty day moving average price is $25.17 and its two-hundred day moving average price is $23.60. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.78.

Analysts Set New Price Targets

Several brokerages recently commented on KIM. Scotiabank upped their price target on shares of Kimco Realty from $24.00 to $25.00 and gave the company a "sector perform" rating in a report on Tuesday, May 19th. Morgan Stanley upped their target price on Kimco Realty from $23.50 to $24.00 and gave the company an "equal weight" rating in a research note on Thursday, April 16th. Raymond James Financial reiterated a "strong-buy" rating and issued a $29.00 price target on shares of Kimco Realty in a report on Monday, June 29th. Wolfe Research upgraded Kimco Realty from a "peer perform" rating to an "outperform" rating and set a $28.00 price objective for the company in a report on Monday, June 22nd. Finally, Jefferies Financial Group raised Kimco Realty to a "hold" rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $26.12.

Trending Headlines about Kimco Realty

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

• Positive Sentiment: Kimco reported second-quarter revenue of $550.8 million, up 4.9% year over year and above the $543.75 million analyst consensus. Reported EPS was $0.46, exceeding the $0.20 estimate, while FFO increased to $0.46 per share from $0.44 a year earlier. Kimco Realty Q2 key metrics
• Positive Sentiment: Leasing momentum lifted portfolio occupancy to an all-time high of 96.4%, with 461 leases covering 2.5 million square feet. The company also ended the quarter with $2.7 billion of immediate liquidity, supporting financial flexibility. Kimco Realty second-quarter results
• Positive Sentiment: Kimco raised its 2026 outlook for net income and FFO and increased its quarterly common dividend by 12% to $0.28 per share, reinforcing the stock’s income appeal. Its updated full-year EPS guidance is $1.83-$1.84, broadly consistent with consensus. Kimco Realty raises outlook and dividend

Institutional Investors Weigh In On Kimco Realty

Hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its position in Kimco Realty by 1.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 30,335 shares of the real estate investment trust's stock worth $663,000 after purchasing an additional 503 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Kimco Realty by 11.2% during the third quarter. Parallel Advisors LLC now owns 5,176 shares of the real estate investment trust's stock worth $113,000 after buying an additional 520 shares in the last quarter. Norinchukin Bank The raised its position in shares of Kimco Realty by 0.8% in the third quarter. Norinchukin Bank The now owns 73,337 shares of the real estate investment trust's stock valued at $1,602,000 after buying an additional 603 shares during the last quarter. Jump Financial LLC lifted its stake in shares of Kimco Realty by 5.1% during the second quarter. Jump Financial LLC now owns 12,932 shares of the real estate investment trust's stock valued at $272,000 after buying an additional 633 shares during the period. Finally, EP Wealth Advisors LLC boosted its position in Kimco Realty by 6.8% during the second quarter. EP Wealth Advisors LLC now owns 10,609 shares of the real estate investment trust's stock worth $223,000 after acquiring an additional 674 shares during the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

About Kimco Realty

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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