Kimco Realty Corp (KIM)
NYSE:KIM
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Kimco Realty
(NYSE:KIM)
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Rating:72Outperform
Price Target:
$28.00
â–²(15.75% Upside)
Action:Reiterated
Date:06/11/26
The score is driven primarily by solid underlying financial performance (strong cash generation and healthy margins) and a constructive earnings outlook after tightened/raised 2026 guidance supported by leasing momentum and a record SNO pipeline. Offsets include leverage sensitivity, somewhat rich valuation on P/E despite a solid yield, and technical indicators that suggest the stock may be near-term overextended.
Positive Factors
Cash generation & FCF
Consistent, sizable operating cash flow and free cash flow demonstrate durable internal funding for dividends, redevelopments and capital recycling. With FCF roughly 74% of net income historically, Kimco can support payout, fund selective redevelopments and reduce external financing dependency over the medium term.
Negative Factors
Refinancing timing risk
Concentrated maturities and required refinancing in the back half of 2026 create execution and interest‑rate sensitivity risks. Even with liquidity, market timing, spread widening or competitive financing terms could raise borrowing costs or force asset sales, affecting mid‑term cash flow and FFO stability.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation & FCF
Consistent, sizable operating cash flow and free cash flow demonstrate durable internal funding for dividends, redevelopments and capital recycling. With FCF roughly 74% of net income historically, Kimco can support payout, fund selective redevelopments and reduce external financing dependency over the medium term.
Read all positive factors
Kimco Realty Key Performance Indicators (KPIs)
Kimco Realty (KIM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$17.47B
Dividend Yield5.02%
Average Volume (3M)4.77M
Price to Earnings (P/E)28.2
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 Outstanding674,389,800
10 Day Avg. Volume6,136,469
30 Day Avg. Volume4,768,105
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 Cap1.39
Enterprise Value/Revenue11.28
Enterprise Value/Gross Profit20.61
Enterprise Value/Ebitda15.70
Forecast
1Y Price Target
$25.64Price Target Upside5.98% Upside
Rating ConsensusHold
Number of Analyst Covering13
EPS Forecast (FY)0.81
Revenue Forecast (FY)$2.20B
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 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 | 1.55B | 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 | 843.69M | 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
23.53
Positive
22.77
Positive
21.59
Positive
Market Momentum
0.57
Negative
77.62
Negative
89.02
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 24.06, above the 50-day MA of 23.53, and above the 200-day MA of 21.59, indicating a bullish trend. The MACD of 0.57 indicates Negative momentum. The RSI at 77.62 is Negative, neither overbought nor oversold. The STOCH value of 89.02 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | $10.94B | 21.38 | 15.55% | 4.38% | 7.43% | 65.72% | |
75 Outperform | $10.00B | 22.52 | 14.86% | 4.41% | 5.92% | 37.44% | |
73 Outperform | $14.70B | 23.40 | 9.51% | 4.15% | 7.84% | 37.55% | |
72 Outperform | $17.47B | 28.25 | 5.90% | 5.02% | 4.01% | 13.27% | |
71 Outperform | $8.86B | 22.74 | 8.81% | 6.04% | 5.77% | -4.61% | |
68 Neutral | $5.93B | 20.99 | 9.22% | 4.55% | -3.59% | 1197.42% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% |
* Real Estate Sector Average
KIM
Kimco Realty
25.91
5.93
29.67%
NNN
NNN REIT
46.59
6.93
17.46%
REG
Regency Centers
80.28
12.65
18.70%
KRG
Kite Realty Group
29.22
8.06
38.10%
FRT
Federal Realty
125.84
34.39
37.61%
BRX
Brixmor Property
32.58
8.16
33.40%
Kimco Realty Corporate Events
Business Operations and StrategyStock BuybackPrivate Placements and Financing
Kimco Realty Prices $500 Million Exchangeable Senior Notes
Positive
Jun 11, 2026
On June 10, 2026, Kimco Realty’s operating subsidiary, Kimco Realty OP, LLC, announced a proposed private offering of $500 million of senior unsecured exchangeable notes due 2031, guaranteed by Kimco Realty and marketed to qualified institut...
Executive/Board ChangesShareholder Meetings
Kimco Realty Shareholders Back Board, Pay and Auditor
Positive
May 22, 2026
At its annual meeting of stockholders held on May 21, 2026, Kimco Realty shareholders elected nine nominees, including executives and independent directors, to serve on the board until the next annual meeting, reflecting broad but not unanimous in...
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.