Kimco Realty Q4 FFO rises on leasing, rental gains

Overview

• U.S. REIT's Q4 net income per share fell yr/yr, while FFO per share rose

• Company achieved record occupancy levels, with small shop occupancy at 92.7%

• Company repurchased 3.1 mln shares at $19.96 average price in Q4 2025

Outlook

• Kimco Realty projects 2026 net income per share between $0.80 and $0.84

• Company expects 2026 FFO per share between $1.80 and $1.84

• Kimco Realty anticipates same property NOI growth of 2.5% to 3.5% in 2026

Result Drivers

• LEASING GAINS - Strong leasing activity drove occupancy to record levels, with small shop occupancy reaching 92.7%

• RENTAL REVENUE - Higher consolidated revenues from rental properties contributed to Q4 results, driven by increased minimum rent and non-cash rent adjustments

• PROPERTY SALES - Gains on property sales added to net income, with $18.1 million higher gains compared to Q4 2024

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 15 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy"

• Wall Street's median 12-month price target for Kimco Realty Corp is $23.00, about 4.6% above its February 11 closing price of $21.99

• The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 27 three months ago

Press Release: ID:nGNX9BgXdx

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