| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 35 | 26.1x | 17.8x | Bottom tier | |
Growth | 42 | 4.4% | 7.1% | Around median | |
Quality | 56 | 4.2% | 4.5% | Around median | |
Safety | 44 | 5.7x | 2.6x | Around median | |
Capital Return | 45 | 4.44% | 2.12% | Around median | |
Momentum | 63 | 10.0% | 2.9% | Around median | |
Sentiment | 78 | 8 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Kimco Realty Corporation is a real estate company listed on the NYSE under the ticker KIM, with a business model focused on owning and operating high-quality open-air shopping centers, particularly grocery-anchored centers in the suburbs of major metropolitan areas. The company generates its income primarily from rent and tenant-reimbursable charges, with additional sources including ancillary income from advertising, energy, electric vehicle charging, and temporary leasing; ancillary income represented approximately 1.8% of total revenue according to the fiscal year 2026 Q2 call. Kimco also uses mixed-use asset redevelopment and capital recycling to sell lower-growth assets and fund shopping centers with higher growth returns.
In fiscal year 2026 Q2, revenue reached $550.8 million, up 4.9%, and net income was $153.3 million, equivalent to a calculated net income margin of approximately 27.8%. Funds from operations totaled $309.2 million, or $0.46 per diluted share, compared with $297.6 million and $0.44 a year earlier, representing per-share growth of 4.5%. Same-property net operating income rose 3.5%, supported by higher minimum rents and improved net tenant reimbursements, while credit losses declined to 57 basis points from 89 basis points in fiscal year 2025 Q2.
The portfolio's total pro rata occupancy reached 96.4%, with record small-shop occupancy of 92.9% and anchor occupancy of 97.8%. The company signed 461 leases covering 2.5 million square feet at a combined rent spread of 13.1%, including 161 new leases at a spread of 40.4%, while renewal and option spreads were 7%. Across the broader periods, the statements reported revenue of $2.1 billion and net income of $584.7 million in fiscal year 2025, compared with revenue of $2.2 billion and net income of $607.1 million during the twelve-month period ending in 2026 included in the data.
The analyst consensus on KIM is Neutral, with an average target of $27.10 and a range of $25 to $29; the average is only approximately 1.7% above the 52-week range high of $26.65, while the highest target exceeds that high by approximately 8.8%. No usable price-to-earnings ratio is available in the data, so the valuation is based on the Neutral target range and the 52-week range of $19.76–$26.65, balancing improvements in funds from operations and occupancy against tenant risks and the timing of capital recycling.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
Kimco's revenue in fiscal year 2026 Q2 reached approximately $550.8 million, up 4.9%, and net income reached $153.3 million. Funds from operations rose 4.5% to $0.46 per diluted share, from $0.44 a year earlier. Growth came from higher minimum rents and improved net reimbursements, which increased same-property net operating income by 3.5%. Credit losses also declined to 57 basis points from 89 basis points in fiscal year 2025 Q2.
Total pro rata occupancy was 96.4%, small-shop occupancy reached a record 92.9%, and anchor occupancy was 97.8%. Nevertheless, the company signed 161 new leases covering 685 thousand square feet at a combined rent spread of 40.4% in fiscal year 2026 Q2. Signed leases that have not yet opened represent $95 million of annual base rent, including $75 million of incremental rent. Management expects 48% of this pipeline to commence by the end of fiscal year 2026, providing growth even with high physical occupancy.
Kimco sold Costco leases that had compound annual growth below 1% and an unlevered internal rate of return below 6%. It reinvested the proceeds tax-efficiently through a 1031 exchange into Walmart-anchored Pompano Marketplace for $53 million and Publix-anchored Sunshine Plaza for $56 million. The new assets target an unlevered internal rate of return above 9% and cash flow growth more than 350 basis points higher than the Costco assets. However, dispositions preceded some acquisitions in fiscal year 2026, so the timing of liquidity deployment remains relevant to short-term earnings.
Automated analysis for informational purposes only — not investment advice.
The board declared a quarterly cash dividend of $0.28 per share, equivalent to $1.12 annually. The increase represents 12% compared with the dividend declared in fiscal year Q3 of the previous year. Management linked the decision to growth in operating cash flows, earnings, and taxable income, alongside raising the fiscal year 2026 funds from operations guidance range to $1.83–$1.84 per share. Management explained that dividends equal 100% of taxable operating income, making their growth dependent on continued growth in distributable earnings.
Kimco issued $600 million of convertible senior notes with a 3.5% coupon, due in 2031, and an initial conversion price of approximately $32.36 per share. The company used part of the structure to repurchase approximately 4.1 million common shares for $104.7 million to reduce potential dilution. It ended fiscal year 2026 Q2 with total liquidity of $2.7 billion, including $700 million in cash, and consolidated net debt to earnings before interest, taxes, depreciation, and amortization of 5.2 times. It intends to use a significant portion of the cash to cover 2026 debt maturities, while potential conversion and refinancing risks remain factors to monitor.
Painted Tree lease rejections negatively affected total occupancy by 16 basis points and anchor occupancy by 23 basis points during fiscal year 2026 Q2. First-half comparisons also followed a wave of bankruptcies that included Party City, JOANN, and Big Lots in fiscal year 2025. In contrast, quarterly credit losses improved to 57 basis points and were 54 basis points since the beginning of fiscal year 2026. The company balances this risk by diversifying tenants and adding names such as Uniqlo, Teso Life, and Lowes Food to its portfolio.
