Kimco Realty (KIM)
NYSE:KIM
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Kimco Realty
(NYSE:KIM)
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Rating:73Outperform
Price Target:
$26.00
▲(7.48% Upside)
Action:ReiteratedDate:05/01/26
The score is driven primarily by solid financial performance (strong margins and free cash flow) and a notably positive earnings call with improved guidance and strong leasing/SNO pipeline visibility. Technicals are supportive with price above major moving averages, while valuation is a modest constraint due to a not-cheap P/E despite an attractive dividend yield.
Positive Factors
Cash generation
Consistent, sizable operating cash flow and FCF provide durable funding for dividends, redeployments and debt service. For a retail REIT, recurring cash conversion supports capital recycling and redevelopment programs that drive organic NOI and long‑term FFO resilience.
Negative Factors
Refinancing concentration
A concentration of maturities in the back half of 2026 creates execution and timing risk: even with liquidity, market dislocation or higher rates could raise financing costs or force asset sales. This structural timing risk can compress FCF or capital flexibility over the next 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistent, sizable operating cash flow and FCF provide durable funding for dividends, redeployments and debt service. For a retail REIT, recurring cash conversion supports capital recycling and redevelopment programs that drive organic NOI and long‑term FFO resilience.
Read all positive factors
Kimco Realty (KIM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$15.77B
Dividend Yield5.02%
Average Volume (3M)5.03M
Price to Earnings (P/E)22.9
Beta (1Y)0.68
Revenue Growth4.01%
EPS Growth13.27%
CountryUS
Employees717
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)0.88
Shares Outstanding674,403,200
10 Day Avg. Volume4,637,561
30 Day Avg. Volume5,029,536
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 Cap1.52
Enterprise Value/Revenue11.06
Enterprise Value/Gross Profit20.23
Enterprise Value/Ebitda15.52
Forecast
1Y Price Target
$25.21Price Target Upside4.22% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering15
EPS Forecast (FY)0.78
Revenue Forecast (FY)$2.19B
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 primarily makes money through its real estate leasing and related property operations as a retail REIT. The main revenue stream is rental income earned from tenants that lease space in Kimco’s shopping centers. Lease structures common...
Kimco Realty Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operational and financial picture: Q1 delivered organic FFO growth, record signed-but-not-open pipeline, strong leasing spreads and elevated new lease rents, improving occupancy, low credit losses, and a strengthened balance sheet with ample liquidity. Challenges cited were largely manageable or timing-related, including refinancing headwinds in H2, a public valuation discount versus private-market pricing, a measured transaction cadence, and macro/fuel-price uncertainty. Given the magnitude and materiality of the operational wins and tightened guidance versus the relatively contained lowlights, the tone of the call is optimistic with clear visibility into 2026 earnings ramp driven by the SNO pipeline and leasing momentum.Positive Updates
FFO Growth and Q1 Result
FFO of $0.46 per diluted share in Q1, a 4.5% increase year-over-year, driven by higher minimum rents and favorable credit trends.
Negative Updates
Macro Uncertainty and Fuel Price Volatility
Geopolitical uncertainty and rising fuel prices noted as potential near-term headwinds for consumer spending and retail sentiment, which could influence traffic and tenant performance.
Read all updates
Q1-2026 Updates
Positive
Negative
FFO Growth and Q1 Result
FFO of $0.46 per diluted share in Q1, a 4.5% increase year-over-year, driven by higher minimum rents and favorable credit trends.
Read all positive updates
Company Guidance
Kimco tightened its 2026 guidance, raising full‑year FFO per diluted share to $1.81–$1.84 (from $1.80–$1.84) and its same‑site NOI growth outlook to 2.8%–3.5% while narrowing its credit‑loss assumption to 65–90 bps (from 75–100 bps), driven by a strong Q1 that produced FFO of $0.46/sh (+4.5% YoY), same‑property NOI +1.7%, $8.3M of higher minimum rents and a Q1 credit loss of ~52 bps; balance‑sheet metrics improved with consolidated net debt/EBITDA at 5.2x (5.5x look‑through), liquidity of ~$2.2B (including $170M cash and an undrawn $2B revolver), and modest interest savings from lower term‑loan spreads. Operationally the company points to a record SNO pipeline of $77M of annual base rent (a 410‑bp leased vs. economic occupancy spread) with projected 2026 commencements of $31M (up from a $28.5M budget, +$2.5M), ~ $13M of Q1 commencements and >$18M expected from Q2–Q4, plus strong leasing in Q1 (576 deals, 4.4M sq ft, new‑lease spreads 23.8%, blended spreads 11.3%, average new lease rent near $29/sq ft) — all of which underpin management’s view that same‑site NOI should accelerate through the year, subject to timing of capital activity (refinancings, dispositions, acquisitions and redevelopments).Kimco Realty Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
66
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.16B | 2.14B | 2.04B | 1.78B | 1.73B | 1.36B |
| Gross Profit | 1.18B | 1.17B | 1.40B | 1.23B | 1.20B | 946.67M |
| EBITDA | 1.54B | 1.62B | 1.26B | 1.40B | 1.06B | 1.34B |
| Net Income | 616.18M | 584.10M | 410.79M | 654.27M | 125.98M | 844.06M |
Balance Sheet | ||||||
| Total Assets | 19.59B | 19.69B | 20.31B | 18.27B | 17.83B | 18.46B |
| Cash, Cash Equivalents and Short-Term Investments | 169.60M | 212.79M | 690.91M | 1.11B | 744.70M | 1.54B |
| Total Debt | 8.31B | 8.64B | 8.58B | 7.73B | 7.27B | 7.60B |
| Total Liabilities | 9.04B | 9.12B | 9.46B | 8.55B | 8.09B | 8.34B |
| Stockholders Equity | 10.39B | 10.39B | 10.65B | 9.53B | 9.52B | 9.90B |
Cash Flow | ||||||
| Free Cash Flow | 780.25M | 772.40M | 681.16M | 807.21M | 861.11M | 618.88M |
| Operating Cash Flow | 1.14B | 1.12B | 1.01B | 1.07B | 861.11M | 618.88M |
| Investing Cash Flow | -295.72M | -376.67M | -318.54M | -136.98M | -63.22M | -476.26M |
| Financing Cash Flow | -806.37M | -1.22B | -781.11M | -300.70M | -982.73M | -101.14M |
Kimco Realty Technical Analysis
Positive
24.19
Price Trends
22.80
Positive
21.50
Positive
21.20
Positive
Market Momentum
0.30
Negative
73.54
Negative
93.00
Negative
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 24.19 is above the 20-day moving average (MA) of 22.83, above the 50-day MA of 22.80, and above the 200-day MA of 21.20, indicating a bullish trend. The MACD of 0.30 indicates Negative momentum. The RSI at 73.54 is Negative, neither overbought nor oversold. The STOCH value of 93.00 is Negative, 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $9.13B | 17.30 | 14.86% | 4.41% | 5.92% | 37.44% | |
75 Outperform | $10.02B | 14.36 | 12.74% | 4.38% | 7.43% | 65.72% | |
74 Outperform | $14.40B | 27.82 | 9.30% | 4.15% | 7.81% | ― | |
73 Outperform | $15.77B | 22.89 | 5.56% | 5.02% | 4.01% | 13.27% | |
72 Outperform | $5.35B | 110.80 | 9.22% | 4.55% | -3.59% | 1197.42% | |
70 Outperform | $8.36B | 21.14 | 8.88% | 6.04% | 5.77% | -4.61% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% |
* Real Estate Sector Average
KIM
Kimco Realty
23.38
3.61
18.28%
NNN
NNN REIT
43.95
4.02
10.08%
REG
Regency Centers
78.65
9.05
13.00%
KRG
Kite Realty Group
26.34
5.35
25.50%
FRT
Federal Realty
115.32
24.84
27.45%
BRX
Brixmor Property
29.77
5.57
23.00%
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.