Kimco Realty Corporation (HC)NYSE: KIM
Real Estate · Retail REITs
$25.95
+7.90%
Vol: 489K
Research Digest
Monday, June 15, 2026
No significant overnight updates
No material news in the last 48 hours. Note: Kimco priced $525M exchangeable senior notes due 2031 on 2026-06-11, which falls outside the 48-hour window.
Previous Market Intelligence
13 daysJun 14Kimco priced an upsized $525M of 3.50% exchangeable notes due 2031 on June 11 and Stifel raised its target to $28 (Buy), capping an 8-day, ~10% rally to fresh highs.Positive▶
On June 11, 2026, Kimco Realty's operating subsidiary priced an upsized $525M offering of 3.50% exchangeable senior notes due 2031 (raised from $500M), with an initial exchange price near $32.36 — about a 27.5% premium to the June 10 close of $25.38 — and net proceeds of roughly $513.5M expected, settling June 15. Proceeds will fund up to $125M of stock repurchases and general corporate uses. In response, Stifel raised its price target to $28.00 from $25.75 while keeping a Buy rating. The financing capped an 8-day winning streak that lifted the stock about 10% to new highs. The bear case is that the new convertible-style debt adds leverage and potential future dilution if the notes convert, and the stock has run hot into the offering.
May 21Kimco Realty raised 2026 net income guidance to $0.83-$0.87 per diluted share after a Q1 beat, and Barclays lifted its price target to $28 from $25.Positive▶
Kimco reported Q1 2026 results showing revenue of $558.0M (+4% YoY) and net income of $164.9M, with FFO up 4.5% YoY and Q1 EPS of $0.46 vs. $0.45 expected. Management raised full-year 2026 net income guidance to $0.83-$0.87 per diluted share, citing record 96.3% occupancy and strong leasing activity (576 deals totaling 4.4M sq ft). Barclays raised its price target to $28 from $25 on the back of the results. On May 21, 2026, Kimco announced management will present at the Bernstein Strategic Decisions Conference 2026 on May 27. Shares traded around $23.55, with a dividend yield near 4.4%. Risk: open-air retail REITs remain sensitive to consumer spending and interest-rate dynamics, but anchor tenant health has so far supported the guide raise.
May 20Kimco Realty sued by Drip Coffee on May 18 over alleged lease fraud targeting female-owned businesses.Mixed▶
On May 18, 2026, Drip Coffee filed suit in Broward County, Florida, accusing Kimco Realty of fraudulently inducing female-owned businesses into leases. The lawsuit adds a fresh legal risk to the retail REIT just after solid Q1 2026 results showing 4.5% FFO growth, revenue of $558M (vs $542.5M est), and EPS of $0.46 vs $0.45 consensus. Management raised full-year 2026 net income guidance to $0.83-$0.87 per diluted share. Occupancy hit a record 96.3% with 576 leases totaling 4.4M sq ft. Barclays raised its PT to $28 from $25 on May 12; BofA raised to $25 from $24 on May 4. Risk: the lawsuit could create reputational drag if litigation expands.
May 19Kimco Realty raised FY2026 net income guidance to $0.83-$0.87/diluted share after Q1 beat; Barclays lifted PT to $28 from $25Positive▶
Kimco Realty reported Q1 2026 EPS of $0.23 vs $0.20 consensus and revenue of $558 million vs $542.5M estimate, with FFO up 4.5% YoY and revenue up 4%. Management raised full-year 2026 net income guidance to a range of $0.83-$0.87 per diluted share, reflecting confidence in cash-flow visibility from the grocery-anchored shopping center portfolio. Occupancy reached a record 96.3%. On May 12, 2026, Barclays raised its price target to $28 from $25. Shares rose 0.34% to $23.55 on May 12, supported by a 4.4% dividend yield that appeals to income-focused investors. The company expects continued occupancy and rental income growth in 2026 driven by a strong leasing pipeline and redevelopment projects.
May 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 15Kimco Realty raised 2026 net income guidance to $0.83-$0.87 per share after Q1 FFO grew 4.5% to $0.46; Bank of America and Evercore lifted targets to $25.Positive▶
Kimco Realty reported Q1 2026 revenue of $558.02 million and net income of $164.9 million, with FFO per diluted share up 4.5% to $0.46, beating estimates of $0.45. The grocery-anchored shopping center REIT raised full-year 2026 net income guidance to $0.83-$0.87 per share and tightened FFO outlook to $1.81-$1.84. Same-property NOI growth outlook was raised to 2.8%-3.5% with occupancy at 96.3%. Net Debt-to-EBITDA reached 5.2x with $2.2 billion liquidity. Bank of America and Evercore ISI both raised price targets to $25 from $24 in early May. Risk: rising rates pressuring REIT valuations.
May 14Kimco Realty draws fresh analyst PT hikes after Q1 2026 beat and raised guidance, shares up 0.34% on May 12Positive▶
Kimco Realty shares rose 0.34% to $23.55 on May 12, 2026, supported by recent positive analyst actions following the late-April Q1 print. The company posted Q1 2026 revenue of $558.02M, net income of $164.9M, FFO of $0.46/share, and same-store NOI growth of 1.7%, and raised 2026 net income guidance to $0.83-$0.87 per diluted share while bumping same-site NOI growth guidance to 2.8%-3.5%. Net debt-to-EBITDA improved to 5.2x consolidated (5.5x look-through), the best level since tracking began. Barclays raised PT to $28 from $25 and Bank of America Securities raised PT to $25 from $24. Dividend yield stands at 4.42%. Risks center on retail tenant credit and rate-sensitive REIT valuation.
May 13Kimco Realty raised 2026 FFO guidance to $1.81-$1.84 and same-site NOI growth to 2.8-3.5%; Evercore ISI raised PT to $25 from $24 on May 1.Positive▶
Kimco Realty reported Q1 2026 revenue of $558.02M and FFO per diluted share of $0.46 (vs. $0.44 prior year and $0.45 est.), driven by higher minimum rents and strong tenant retention. The company tightened its revised 2026 FFO outlook to $1.81-$1.84 per diluted share, raised 2026 net income guidance to $0.83-$0.87 per diluted share, and lifted same-site NOI growth guidance to 2.8-3.5% for the full year. The signed-but-not-open (SNO) pipeline reached a record $77M in annual base rent. Net debt-to-EBITDA improved to 5.2x consolidated (5.5x look-through), the best level since tracking began. Evercore ISI raised PT to $25 from $24 on May 1, 2026, and Barclays raised to $28 from $25. Risk: ongoing refinancing risk and consumer credit loss in grocery-anchored centers.
May 12No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 11Swedbank disclosed $11.36M holdings in Kimco on May 10 after Q1 FFO beat and raised 2026 guidance.Positive▶
Recent Kimco activity included a Swedbank AB 13F disclosure on May 10 showing $11.36M in holdings (down 18.4% in Q4). The disclosure follows Q1 2026 results showing FFO of $0.46/share (+4.5%), revenue of $558M, net income of $164.9M, and same-store NOI growth of 1.7%. Kimco raised 2026 net income guidance to $0.83-$0.87/share and same-site NOI growth to 2.8-3.5%. Occupancy held high at 96.3% with a record $77M signed-not-open pipeline. The quarterly dividend of $0.26 is payable June 18. Analyst consensus is Moderate Buy (9 Strong Buy, 16 Hold). Risk: rate sensitivity and consumer slowdown.
May 8Q1 FFO rose 4.5% to $0.46/sh, 2026 FFO guidance tightened to $1.81-$1.84Positive▶
Kimco Realty reported Q1 2026 FFO of $0.46 per diluted share, up 4.5% YoY, topping the $0.45 estimate. The REIT achieved record leased-to-economic occupancy spread of 410 basis points, representing a $77 million (28%) YoY increase in future Annual Base Rent. Occupancy remained strong at 96.3%. The company tightened its 2026 FFO outlook to $1.81-$1.84 and raised same-site NOI growth guidance to 2.8%-3.5%. Morgan Stanley raised its price target to $24 in April.
May 7Kimco Realty beats Q1 guidance with 4.5% FFO growth and record $77M annual rent increase from leasing activityPositive▶
Kimco reported Q1 FFO of $0.46 per share, up 4.5%, exceeding guidance. The company completed 576 leases totaling 4.4M square feet with 23.8% new lease spreads and achieved record $77M year-over-year ABR growth. Occupancy rose to 96.3% with a 410 basis point spread. Capital deployment includes $750M ATM and $750M buyback programs.
May 6Kimco Realty reports Q1 2026 results with 4.5% FFO growth and record leased occupancy spreadPositive▶
Kimco Realty announced Q1 2026 results with net income of $0.23 per diluted share (vs. $0.18 prior year) and FFO growth of 4.5% to $0.46 per share. The company achieved a record leased-to-economic occupancy spread of 410 basis points, representing $77 million in year-over-year increase in future Annual Base Rent. Blended pro-rata cash rent spreads reached 11.3% on comparable leases. The company completed sales of ground-leased parcels for $47.1 million and deployed $37.9 million into structured investments. Morgan Stanley raised the price target to $24 from $23.50 on April 16, 2026.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| SPGSIMON | $218.34 | +6.56% | +2.2% | 29.8x | 1.36 | $77.9B |
| OREALTY | $62.78 | +0.88% | +0.8% | 36.8x | 0.76 | $58.0B |
| KIMKIMCO | $25.95 | +7.90% | +2.5% | 28.0x | 0.99 | $16.2B |
| REGREGENCY | $79.65 | +1.67% | +1.3% | 30.9x | 0.84 | $14.6B |
| FRTFEDERAL | $125.27 | +5.61% | +3.2% | 38.4x | 0.93 | $10.3B |
| WELLWELLTOWER | $215.00 | -0.47% | +1.6% | 64.9x | 0.82 | $152.5B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price above both MAs — bullish structure.