Kimco Realty® Achieves ‘A3’ Credit Rating from Moody’s
Rhea-AI Summary
Kimco Realty (NYSE: KIM) announced on December 3, 2025 that Moody’s upgraded the company to an A3 credit rating with a stable outlook. Moody’s cited Kimco’s high-quality, predominantly grocery-anchored portfolio, solid same-property net operating income growth, double-digit leasing spreads, and a prudent financial structure with moderate leverage, robust interest coverage, and ample liquidity. As of September 30, 2025, Kimco owned interests in 564 U.S. shopping centers totaling 100 million square feet. The company is included in the S&P 500.
Positive
- Moody’s upgrade to A3 with stable outlook (Dec 3, 2025)
- 564 properties owned as of September 30, 2025
- 100 million sq ft gross leasable space as of September 30, 2025
- Double-digit leasing spreads reported by Moody’s
- A-level ratings from the three largest ratings agencies
Negative
- None.
News Market Reaction
On the day this news was published, KIM declined 0.24%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
KIM was up 0.8% ahead of the Moody’s upgrade while key retail REIT peers like REG, O, BRX, and FRT showed modest gains and SPG was slightly negative, suggesting today’s catalyst is more company-specific than a broad sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 03 | Credit rating upgrade | Positive | -0.2% | Moody’s raised Kimco to A3 with stable outlook citing strong portfolio. |
| Nov 03 | ATM and buyback | Positive | +0.3% | New $750M ATM equity program and $750M share repurchase authorization. |
| Oct 30 | Quarterly earnings | Positive | -1.9% | Q3 2025 beat with higher occupancy, raised outlook and dividend. |
| Sep 18 | Earnings call notice | Neutral | +1.0% | Announcement of timing for Q3 2025 earnings call and portfolio stats. |
| Sep 15 | Credit rating upgrade | Positive | -1.0% | S&P upgraded Kimco to 'A-' with stable outlook on strong balance sheet. |
Recent positive fundamental and rating milestones have sometimes been followed by negative short-term price reactions, especially around earnings and rating upgrades.
Over the last six months, Kimco reported solid Q3 2025 results with net income of $0.19 per share and FFO of $0.44, raised its dividend to $0.26, and increased full-year guidance. It secured an 'A-' rating from S&P and now an 'A3' rating from Moody’s, highlighting balance sheet strength and a predominantly grocery-anchored portfolio. The company also launched a $750 million ATM equity program alongside a new $750 million repurchase plan, underscoring active capital markets access alongside ongoing portfolio and liquidity improvements.
Regulatory & Risk Context
An effective automatic shelf registration on Form S-3ASR filed on Nov 03, 2025 allows Kimco and its operating partnership to issue various securities, including equity and debt. It carries forward $362,486,557.10 of prior ATM capacity plus unsold DRIP and DownREIT shares, providing flexibility to raise capital through future offerings as outlined in prospectus supplements.
Market Pulse Summary
This announcement highlights Moody’s upgrade of Kimco to an A3 rating with a stable outlook, citing its grocery-anchored portfolio, solid same-property net operating income growth, and prudent leverage profile. It follows strong Q3 2025 results, a higher $0.26 dividend, and new $750 million ATM and repurchase programs. Investors may monitor how future funding under the effective S-3ASR shelf and ATM capacity of $362,486,557.10 interacts with ongoing operating performance and leasing metrics.
Key Terms
real estate investment trust (REIT) financial
net operating income financial
leverage financial
interest coverage financial
forward-looking statements regulatory
AI-generated analysis. Not financial advice.
JERICHO, New York, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Kimco Realty® (NYSE: KIM), a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States, today announced the company achieved an ‘A3’ credit rating with a stable outlook from Moody’s Ratings (“Moody’s”), placing Kimco among a select group of REITs with A-level ratings from the three largest ratings agencies.
Moody’s attributed the upgrade to Kimco's high-quality, predominately grocery-anchored shopping center portfolio, which have demonstrated strong operational performance characterized by solid same property net operating income growth and double-digit leasing spreads. The upgrade also reflects the company's prudent financial structure marked by moderate leverage, robust interest coverage, and ample liquidity.
“Receiving our third A-level rating strongly affirms our operational excellence, robust access to financial markets, and disciplined capital allocation, all of which have enabled us to deliver consistent earnings growth,” said Glenn Cohen, Executive Vice President and Chief Financial Officer. “We are eager to continue building on this momentum.”
About Kimco Realty®
Kimco Realty® (NYSE: KIM) is a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States. The company’s portfolio is strategically concentrated in the first-ring suburbs of the top major metropolitan markets, including high-barrier-to-entry coastal markets and Sun Belt cities. Its tenant mix is focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value-enhancing redevelopment activities for more than 65 years. With a proven commitment to corporate responsibility, Kimco Realty is a recognized industry leader in this area. As of September 30, 2025, the company owned interests in 564 U.S. shopping centers and mixed-use assets comprising 100 million square feet of gross leasable space.
The company announces material information to its investors using the company’s investor relations website (investors.kimcorealty.com), SEC filings, press releases, public conference calls, and webcasts. The company also uses social media to communicate with its investors and the public, and the information the company posts on social media may be deemed material information. Therefore, the company encourages investors, the media, and others interested in the company to review the information that it posts on the social media channels, including Facebook (www.facebook.com/kimcorealty), and LinkedIn (www.linkedin.com/company/kimco-realty-corporation). The list of social media channels that the company uses may be updated on its investor relations website from time to time.
Safe Harbor Statement
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with the safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, are generally identifiable by use of the words “believe,” “expect,” “intend,” “commit,” “anticipate,” “estimate,” “project,” “will,” “target,” “plan,” “forecast” or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which, in some cases, are beyond the Company’s control and could materially affect actual results, performance or achievements. Factors which may cause actual results to differ materially from current expectations include, but are not limited to, (i) financial disruption, changes in trade policies and tariffs, geopolitical challenges or economic downturn, including general adverse economic and local real estate conditions, (ii) the impact of competition, including the availability of acquisition or development opportunities and the costs associated with purchasing and maintaining assets, (iii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iv) the reduction in the Company’s income in the event of multiple lease terminations by tenants or a failure of multiple tenants to occupy their premises in a shopping center, (v) the potential impact of e-commerce and other changes in consumer buying practices, and changing trends in the retail industry and perceptions by retailers or shoppers, including safety and convenience, (vi) the availability of suitable acquisition, disposition, development, redevelopment and merger opportunities, and the costs associated with purchasing and maintaining assets and risks related to acquisitions not performing in accordance with our expectations, (vii) the Company’s ability to raise capital by selling its assets, (viii) disruptions and increases in operating costs due to inflation and supply chain disruptions, (ix) risks associated with the development of mixed-use commercial properties, including risks associated with the development, and ownership of non-retail real estate, (x) changes in governmental laws and regulations, including, but not limited to, changes in data privacy, environmental (including climate change), safety and health laws, and management’s ability to estimate the impact of such changes, (xi) valuation and risks related to the Company’s joint venture and preferred equity investments and other investments, (xii) collectability of mortgage and other financing receivables, (xiii) impairment charges, (xiv) criminal cybersecurity attack disruptions, data loss or other security incidents and breaches, (xv) risks related to artificial intelligence, (xvi) impact of natural disasters and weather and climate-related events, (xvii) pandemics or other health crises, (xviii) our ability to attract, retain and motivate key personnel, (xix) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on favorable terms to the Company, (xx) the level and volatility of interest rates and management’s ability to estimate the impact thereof, (xxi) changes in the dividend policy for the Company’s common and preferred stock and the Company’s ability to pay dividends at current levels, (xxii) unanticipated changes in the Company’s intention or ability to prepay certain debt prior to maturity and/or hold certain securities until maturity, (xxiii) the Company’s ability to continue to maintain its status as a REIT for U.S. federal income tax purposes and potential risks and uncertainties in connection with its UPREIT structure, and (xxiv) other risks and uncertainties identified under Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024. Accordingly, there is no assurance that the Company’s expectations will be realized. The Company disclaims any intention or obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise. You are advised to refer to any further disclosures the Company makes in other filings with the Securities and Exchange Commission (“SEC”).
CONTACT:
David F. Bujnicki
Senior Vice President, Investor Relations and Strategy
Kimco Realty Corporation
(833) 800-4343
dbujnicki@kimcorealty.com
FAQ
What did Moody’s announce about Kimco Realty (KIM) on December 3, 2025?
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Why did Moody’s upgrade Kimco Realty (KIM) to A3 on December 3, 2025?
Does the Moody’s A3 upgrade affect Kimco Realty’s (KIM) standing with other rating agencies?
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