Kimco Realty Corporation
- Open
- 24.24
- Day high
- 24.24
- Day low
- 23.96
- Prev close
- 24.09
- Volume
- 227K
- Mkt cap
- $16.2B
- P/E (TTM)
- 27.0
- EPS (TTM)
- $0.89
- P/B
- 1.6
- P/S
- 7.4
- Yield
- 4.29%
- Per share
- $1.03
Kimco Realty Corporation (KIM) is a Real Estate company listed on NYSE. The stock is up 8% over the past year. Drillr has 1 published research article covering KIM.
Kimco Realty Corporation (KIM) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 7 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
KIM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 4, 2026 | $0.20 | $0.22 | +9.5% | $546M | +0.4% |
| Apr 30, 2026 | $0.20 | $0.46 | +128.9% | $553M | +1.6% |
| Feb 12, 2026 | $0.44 | $0.44 | +0.0% | $542M | -0.6% |
| Oct 30, 2025 | $0.43 | $0.44 | +2.1% | $536M | -1.0% |
| Jul 31, 2025 | $0.43 | $0.44 | +2.3% | $525M | +0.1% |
| May 1, 2025 | $0.42 | $0.44 | +5.0% | $537M | +1.8% |
| Feb 7, 2025 | $0.42 | $0.42 | +0.2% | $521M | +0.3% |
| Oct 31, 2024 | $0.41 | $0.43 | +4.9% | $508M | -0.4% |
| Aug 1, 2024 | $0.40 | $0.41 | +2.8% | $500M | +1.1% |
| May 2, 2024 | $0.38 | $0.39 | +2.1% | $504M | +4.7% |
| Feb 8, 2024 | $0.39 | $0.39 | +0.0% | $452M | +1.0% |
| Oct 26, 2023 | $0.39 | $0.40 | +2.3% | $446M | -0.6% |
KIM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Feb 20, 2026 | LOURENSO FRANKdirector | Grant | 7,720 | — |
| Feb 20, 2026 | Flynn Conor Cdirector, officer: Chief Executive Officer | Grant | 285,880 | — |
| Feb 20, 2026 | Richardson Valeriedirector | Grant | 7,720 | — |
| Feb 20, 2026 | COHEN GLENN GARYofficer: Exec VP, CFO | Grant | 31,770 | — |
| Feb 20, 2026 | Lashine Nancydirector | Grant | 7,720 | — |
| Feb 20, 2026 | SALTZMAN RICHARD Bdirector | Grant | 7,720 | — |
| Feb 20, 2026 | Jamieson Daviddirector, officer: Chief Operating Officer | Grant | 31,770 | — |
| Feb 20, 2026 | Moniz Henrydirector | Grant | 7,720 | — |
| Feb 20, 2026 | Preusse Mary Hogandirector | Grant | 7,720 | — |
| Feb 20, 2026 | COVIELLO PHILIP E JRdirector | Grant | 7,720 | — |
| Feb 20, 2026 | Cooper Rossdirector, officer: President | Grant | 31,770 | — |
| Feb 18, 2026 | LOURENSO FRANKdirector | Sell | 8,594 | $23.14 |
| Feb 17, 2026 | Flynn Conor Cdirector, officer: Chief Executive Officer | Tax | 47,932 | $22.32 |
| Feb 17, 2026 | Cooper Rossdirector, officer: President | Tax | 14,810 | $22.32 |
| Feb 17, 2026 | COHEN GLENN GARYofficer: Exec VP, CFO | Tax | 14,810 | $22.32 |
Source: KIM SEC Form 4 filings, latest Feb 20, 2026. For informational purposes only — not investment advice.
See the full KIM insider & 13F page →Kimco Realty Corporation company profile
Overview
Kimco Realty Corporation (NYSE:KIM) is a real estate investment trust (REIT) founded in 1958 and publicly traded since 1991. Headquartered in Jericho, New York, the company has evolved over more than six decades to become one of North America's largest publicly traded owners and operators of open-air, grocery-anchored shopping centers and mixed-use properties. The company is included in the S&P 500 Index and has built its reputation through strategic acquisitions, development, and active management of retail real estate assets concentrated in major metropolitan markets across the United States.
Business
Kimco operates in the retail real estate investment trust (REIT) sector, which involves owning, leasing, and managing commercial retail properties. A REIT is a company that owns or finances income-producing real estate and is required to distribute at least 90% of its taxable income to shareholders as dividends, making it an attractive investment vehicle for income-seeking investors. The company's core business focuses on open-air, grocery-anchored shopping centers, which are retail complexes typically featuring a large grocery store as the primary tenant (called an "anchor tenant") surrounded by smaller retail spaces for various businesses. These properties are strategically located in high-traffic areas where consumers regularly shop for daily necessities. Unlike enclosed shopping malls, open-air centers allow customers to park directly in front of stores and access shops without walking through a central corridor. Kimco's portfolio consists of approximately 400 properties comprising roughly 70 million square feet of gross leasable space. The company has strategically positioned about 85% of its annual base rent from grocery-anchored properties, reflecting its focus on necessity-based retail that tends to be more resilient during economic downturns. The remaining portfolio includes mixed-use developments that combine retail with residential components, particularly apartment units. The company also operates a structured investment program, which involves providing financing or partnership arrangements with other real estate developers and operators, offering potential future ownership opportunities while generating current income through interest payments or profit-sharing arrangements.
Revenue model
Kimco generates revenue primarily through rental income from leasing retail space to tenants in its shopping centers. The company's paying customers are retailers ranging from large national chains like grocery stores, pharmacies, and big-box retailers (anchor tenants) to smaller local businesses, restaurants, service providers, and medical practices (small shop tenants). The business model operates on several revenue streams. Base rent constitutes the primary income source, with tenants typically signing multi-year leases that provide predictable cash flows. Many leases include percentage rent clauses, where tenants pay additional rent based on sales performance above certain thresholds. The company also collects tenant reimbursements for property taxes, insurance, and common area maintenance expenses, effectively passing through operating costs to tenants. Several factors influence Kimco's profitability margins. Occupancy rates directly impact revenue, with the company currently maintaining approximately 96% occupancy across its portfolio. Rent spreads - the difference between expiring rents and new lease rates - significantly affect income growth, with Kimco achieving double-digit new lease spreads consistently. Tenant credit quality affects both rental income stability and potential credit losses from bankruptcies or defaults. External factors that could pressure margins include e-commerce competition reducing demand for physical retail space, rising interest rates increasing borrowing costs and property acquisition expenses, and economic recessions potentially leading to higher tenant defaults. Conversely, factors supporting margin expansion include the company's focus on necessity-based retail that's less susceptible to online competition, limited new retail construction creating supply constraints, and demographic trends favoring suburban locations where most of Kimco's properties are situated.
Competitive moat
Kimco's competitive moat stems primarily from its strategic location portfolio in high-barrier-to-entry markets. The company has concentrated its properties in first-ring suburbs of major metropolitan areas with natural barriers such as geographic constraints, zoning restrictions, and limited available land for new retail development. These locations benefit from established traffic patterns and demographic stability that are difficult for competitors to replicate. The company's grocery-anchored focus provides defensive characteristics, as grocery shopping remains largely immune to e-commerce disruption due to consumer preferences for fresh food selection and immediate availability. This necessity-based retail model creates consistent foot traffic that benefits surrounding small shop tenants, making Kimco's centers attractive to a diverse tenant base. However, Kimco's moat faces several challenges. The retail real estate sector remains vulnerable to continued e-commerce growth, changing consumer shopping patterns, and potential oversupply in certain markets. While grocery-anchored centers are more resilient than traditional malls, they still face competition from new retail formats and delivery services. The company's capital-intensive nature requires continuous investment in property maintenance, renovations, and acquisitions to maintain competitiveness. The REIT structure, while providing tax advantages, also constrains capital allocation flexibility since the company must distribute most earnings as dividends rather than retaining cash for growth investments. Additionally, interest rate sensitivity affects both the company's borrowing costs and investor appetite for REIT investments, potentially impacting valuation multiples and access to capital markets.
Risks & safety
Kimco maintains a moderate margin of safety with manageable financial risks but some valuation concerns. • Financial Position: Strong liquidity of $2 billion, current ratio of 3.4x, and positive free cash flow of $224 million quarterly provide adequate financial cushioning • Debt Management: Net debt-to-EBITDA ratio of 5.3x is elevated but manageable for a REIT, with debt-to-equity ratio of 0.77x showing reasonable leverage • Operational Stability: High occupancy rate of 95.8% and consistent same-property NOI growth of 3.9% demonstrate operational resilience • Valuation Metrics: EV/EBITDA of 16.0x and P/E ratio of 27.1x appear elevated relative to historical REIT valuations, suggesting limited valuation safety margin • Dividend Coverage: Strong free cash flow generation supports dividend sustainability, though REIT structure requires high payout ratios • Credit Quality: Moody's positive outlook upgrade indicates improving credit profile, but 75-100 basis points credit loss assumption reflects ongoing tenant risk management
Recent development
Over the past few years, Kimco has executed a significant portfolio transformation strategy focused on consolidating its position in grocery-anchored retail real estate. The most notable strategic move was the acquisition of RPT Realty in early 2024, which expanded Kimco's portfolio and provided operational synergies that exceeded initial expectations, with RPT's same-site NOI growing 10.3% following integration. The company has aggressively pursued mixed-use development opportunities, successfully securing entitlements for 12,000 multifamily apartment units across its portfolio - achieving this milestone a full year ahead of the original 2025 target. This initiative represents a strategic pivot toward capturing additional value from existing retail properties by adding residential components, particularly in high-density suburban markets. Kimco has also enhanced its capital recycling program, systematically disposing of lower-growth properties while acquiring higher-quality grocery-anchored centers. The company has maintained an active acquisition pipeline of $100-125 million annually while selectively divesting assets that no longer align with its strategic focus on necessity-based retail. The company has strengthened its leasing strategy by focusing on internet-resistant tenants, with over 50% of new lease volume coming from medical, health, wellness, and service-oriented businesses that require physical presence. This tenant diversification strategy has helped Kimco achieve consistently strong rent spreads, with new lease spreads reaching 48.7% in the most recent quarter, while maintaining high occupancy levels and improving small shop occupancy to 91.7%.
KIM company profile · for informational purposes only — not investment advice.
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