Kimco Realty (KIM)
NYSE:KIM
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Kimco Realty
(NYSE:KIM)
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Rating:71Outperform
Price Target:
$25.00
▲(8.37% Upside)
Action:ReiteratedDate:02/21/26
The score is driven primarily by solid financial performance (strong recent growth and improved free cash flow) and a favorable technical uptrend. Earnings-call commentary adds support via strong operating metrics and liquidity, while valuation is a moderating factor due to the higher P/E despite a healthy dividend yield.
Positive Factors
Improving cash generation and FFO growth
Kimco delivered material FFO per-share growth (6.7%) and a sharp free-cash-flow rebound in 2025, showing durable operating cash conversion. Reliable cash generation supports dividend coverage, buybacks, and disciplined reinvestment, underpinning long-term capital allocation and financial resilience.
Negative Factors
2026 refinancing and maturity concentration
A concentrated 2026 maturity slate requires proactive refinancing or asset sales; replacing low-coupon debt can raise interest costs and strain cash flow. Execution risk on timing and terms could pressure coverage metrics and limit discretionary capital deployment if market conditions tighten.
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Positive Factors
Negative Factors
Improving cash generation and FFO growth
Kimco delivered material FFO per-share growth (6.7%) and a sharp free-cash-flow rebound in 2025, showing durable operating cash conversion. Reliable cash generation supports dividend coverage, buybacks, and disciplined reinvestment, underpinning long-term capital allocation and financial resilience.
Read all positive factors
Kimco Realty (KIM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$15.55B
Dividend Yield5.02%
Average Volume (3M)5.66M
Price to Earnings (P/E)23.4
Beta (1Y)0.65
Revenue Growth7.99%
EPS Growth55.05%
CountryUS
Employees717
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)0.21
Shares Outstanding674,066,650
10 Day Avg. Volume4,271,980
30 Day Avg. Volume5,658,348
Financial Highlights & Ratios
PEG Ratio0.46
Price to Book (P/B)1.31
Price to Sales (P/S)6.38
P/FCF Ratio17.69
Enterprise Value/Market Cap1.55
Enterprise Value/Revenue11.24
Enterprise Value/Gross Profit20.56
Enterprise Value/Ebitda15.74
Forecast
1Y Price Target
$25.06Price Target Upside8.63% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering13
EPS Forecast (FY)0.79
Revenue Forecast (FY)$2.20B
Kimco Realty Business Overview & Revenue Model
Company Description
Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is one of North America's largest publicly traded owners and operators of open-air, grocery-anchored shopping centers and mixed-use assets. ...
How the Company Makes Money
Kimco Realty generates revenue primarily through rental income from its diverse portfolio of retail properties. The company leases space to a wide range of tenants, including national and regional retailers, restaurants, and service providers, whi...
Kimco Realty Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call presented a predominantly positive operational and financial picture: strong 2025 results with healthy FFO growth (6.7%), robust leasing momentum, record occupancy metrics, a large SNO pipeline, solid liquidity, and an A-level credit profile. Management outlined a clear capital recycling strategy, meaningful disposition and acquisition targets, and digital/organizational initiatives to drive further efficiency and growth. Near-term headwinds include a public-private valuation gap that could create taxable gains on dispositions (potentially triggering a special dividend if 1031 exchanges are not available), a more competitive transaction market, refinancing and maturity timing in 2026, and a modest deceleration in FFO growth guidance for 2026 versus 2025. On balance, the strengths and execution momentum materially outweigh the risks called out, though execution on dispositions, tax mitigation, and transformation initiatives will be important to fully realize the opportunity.Positive Updates
Strong FFO Growth
Full-year FFO of approximately $1,200,000,000 or $1.76 per diluted share, representing a 6.7% per-share increase versus 2024; Q4 FFO of $294,300,000 or $0.44 per diluted share, up 4.8% year-over-year.
Negative Updates
Public Valuation Disconnect and Taxable Gain Risk
Company highlighted a meaningful valuation gap between public market implied cap rates (low- to mid-7% implied) and private market trading (mid-5s to low-6s). Large dispositions could generate sizable taxable gains; if 1031 exchanges are not available for all sales, management may need to pay a special dividend.
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Q4-2025 Updates
Positive
Negative
Strong FFO Growth
Full-year FFO of approximately $1,200,000,000 or $1.76 per diluted share, representing a 6.7% per-share increase versus 2024; Q4 FFO of $294,300,000 or $0.44 per diluted share, up 4.8% year-over-year.
Read all positive updates
Company Guidance
Kimco’s 2026 guidance targets FFO per share of $1.80–$1.84 (up 2.3%–4.5% vs. 2025) driven by same‑property NOI growth of 2.5%–3.5%; the company assumes credit losses of 75–100 bps, lease termination income of $7M–$15M, non‑cash GAAP revenue of $45M–$50M, and net mortgage/financing income of $45M–$55M, with consolidated G&A budgeted at $128M–$132M and consolidated interest expense plus preferred dividends of $370M–$377M. Capital deployment guidance includes $100M–$150M of development/redevelopment, $275M–$300M of capitalized lease‑related and maintenance spending, $75M–$125M of net new structured investments (8%–10% going‑in yields) with net‑neutral acquisition/disposition activity and a positive reinvestment spread; balance‑sheet metrics cited include ~ $800M of 2026 maturities at an average effective rate of ~2.65%, over $2.2B of immediate liquidity, consolidated net debt/EBITDA of 5.4x (look‑through 5.7x).Kimco Realty Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
66
Positive
Cash Flow
70
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.14B | 2.04B | 1.78B | 1.73B | 1.36B |
| Gross Profit | 1.17B | 1.40B | 1.23B | 1.20B | 946.67M |
| EBITDA | 1.62B | 1.26B | 1.40B | 1.06B | 1.34B |
| Net Income | 584.10M | 410.79M | 654.27M | 125.98M | 844.06M |
Balance Sheet | |||||
| Total Assets | 19.69B | 20.31B | 18.27B | 17.83B | 18.46B |
| Cash, Cash Equivalents and Short-Term Investments | 212.79M | 690.91M | 1.11B | 744.70M | 1.54B |
| Total Debt | 8.64B | 8.58B | 7.73B | 7.27B | 7.60B |
| Total Liabilities | 9.12B | 9.46B | 8.55B | 8.09B | 8.34B |
| Stockholders Equity | 10.39B | 10.65B | 9.53B | 9.52B | 9.90B |
Cash Flow | |||||
| Free Cash Flow | 772.40M | 681.16M | 807.21M | 861.11M | 618.88M |
| Operating Cash Flow | 1.12B | 1.01B | 1.07B | 861.11M | 618.88M |
| Investing Cash Flow | -376.67M | -318.54M | -136.98M | -63.22M | -476.26M |
| Financing Cash Flow | -1.22B | -781.11M | -300.70M | -982.73M | -101.14M |
Kimco Realty Technical Analysis
Positive
23.07
Price Trends
22.41
Positive
21.24
Positive
21.09
Positive
Market Momentum
>-0.01
Positive
52.22
Neutral
62.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KIM, the sentiment is Positive. The current price of 23.07 is above the 20-day moving average (MA) of 22.67, above the 50-day MA of 22.41, and above the 200-day MA of 21.09, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 52.22 is Neutral, neither overbought nor oversold. The STOCH value of 62.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
80 Outperform | $8.36B | 19.50 | 8.88% | 6.04% | 4.53% | -3.46% | |
75 Outperform | $14.33B | 24.78 | 9.30% | 4.15% | 5.38% | 3.13% | |
73 Outperform | $9.07B | 20.85 | 13.01% | 4.41% | 6.07% | -0.28% | |
72 Outperform | $9.32B | 21.05 | 12.74% | 4.38% | 6.05% | 14.70% | |
71 Outperform | $15.55B | 23.39 | 5.56% | 5.02% | 7.99% | 55.05% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
60 Neutral | $5.22B | 7.10 | 9.31% | 4.55% | 3.67% | ― |
* Real Estate Sector Average
KIM
Kimco Realty
23.07
4.21
22.32%
NNN
NNN REIT
44.00
7.12
19.31%
REG
Regency Centers
78.35
12.64
19.25%
KRG
Kite Realty Group
25.23
6.02
31.37%
FRT
Federal Realty
107.39
22.33
26.25%
BRX
Brixmor Property
29.57
6.56
28.53%
Kimco Realty Corporate Events
Executive/Board Changes
Kimco Realty Announces Chief Accounting Officer Transition
Neutral
Jan 28, 2026
Kimco Realty Corporation announced a planned leadership transition in its accounting function, following the January 27, 2026 notice by Paul Westbrook of his intention to retire as Vice President and Chief Accounting Officer of the company and Kim...
Business Operations and StrategyExecutive/Board Changes
Kimco Realty Adds COO David Jamieson to Board
Positive
Jan 21, 2026
On January 19, 2026, Kimco Realty’s board expanded from nine to ten members and elected longtime executive David Jamieson, the company’s Executive Vice President and Chief Operating Officer, as a director without additional compensatio...
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.