Kimco Realty® Announces Third Quarter 2026 Results

Signed leases not yet commenced represent $76 million in future annual base rent.

Rhea-AI Summary

Kimco Realty (KIM) raised its 2026 earnings outlook after third-quarter net income available to common shareholders reached $0.41 per diluted share. Net income rose to $272.5 million from $130.2 million a year earlier, primarily reflecting higher property-sale gains, net of impairments. Funds from operations (FFO), a non-GAAP earnings measure, rose 6.8% per diluted share to $0.47.

Leased occupancy reached a record 96.6%, and same-property net operating income grew 4.9% year over year. Kimco sold The Witmer for $211.5 million, with a $116.3 million pro-rata share, and repurchased $150 million of common stock. The company raised full-year guidance to $1.07–$1.09 for net income and $1.84–$1.86 for FFO per diluted share, from $1.00–$1.03 and $1.83–$1.84, respectively. The common quarterly dividend increased 7.7% year over year to $0.28 per share.

35 points · 1 major

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0 major · 9 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.2026 net income guidance increased to $1.07–$1.09 per diluted share from $1.00–$1.03.
• Moderate pointThird-quarter common-shareholder net income rose to $272.5 million, or $0.41 per diluted share, from $130.2 million, or $0.19.
• Moderate pointThird-quarter FFO reached $316.2 million, or $0.47 per diluted share, versus $300.3 million, or $0.44.
• Moderate pointThird-quarter total revenue rose to $546.147 million from $535.861 million a year earlier.
• Moderate pointSame-property net operating income grew 4.9% year over year, driven by a 3.2% minimum-rent increase.
• Moderate point. Forward-looking: it has not happened yet and may not happen.2026 same-property net operating income growth guidance increased to 3.5%–3.8% from 3.0%–3.5%.
• Moderate pointLeased occupancy reached 96.6%, up 20 basis points sequentially and 90 basis points year over year.
• Moderate pointLeasing totaled 444 leases covering 2.7 million square feet, with 12% blended comparable cash rent spreads.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Signed, uncommenced leases represent $76 million in future annual base rent.
• Moderate pointCommon-stock repurchases totaled $150 million for 6.3 million shares, averaging $23.81 including fees and commissions.
• Moderate pointQuarterly common dividend increased 7.7% year over year to $0.28 per share.
• Moderate pointThe Witmer sale generated $211.5 million, including Kimco's $116.3 million share, at approximately a 5.1% capitalization rate. 1.3% of market cap
• Moderate pointFour Costco-anchored asset sales generated approximately $127 million for capital recycling.
• Moderate pointUnsecured-note repayments totaled $266.0 million during the quarter, retiring notes with a 3.45% blended coupon. 1.7% of market cap
• Moderate pointSubsequent unsecured-note repayment retired $500 million of principal carrying a 2.80% coupon. 3.2% of market cap

20 minor points

• Minor point. Forward-looking: it has not happened yet and may not happen.2026 FFO guidance increased to $1.84–$1.86 per diluted share from $1.83–$1.84.
• Minor pointSmall-shop occupancy matched its record 92.9%, up 40 basis points year over year.
• Minor pointAnchor occupancy reached 98.2%, up 40 basis points sequentially and 120 basis points year over year.
• Minor pointComparable cash rent spreads reached 31.5% on new leases, 7.3% on renewals and 7.7% on options.
• Minor pointClass N preferred depositary-share repurchases totaled $48.2 million for 753,707 shares, averaging $64.00.
• Minor pointClass L preferred depositary-share repurchases totaled $12.5 million for 624,716 shares, averaging $19.94.
• Minor pointClass M preferred depositary-share repurchases totaled $13.3 million for 654,969 shares, averaging $20.34.
• Minor pointPompano Marketplace acquisition totaled $53 million; its associated $35 million mezzanine loan was repaid at closing.
• Minor pointSunshine Plaza acquisition totaled $56 million, funded with tax-deferred exchange proceeds.
• Minor pointThree shopping centers and two land parcels sold for $51.8 million, including Kimco's $15.1 million share.
• Minor pointBJ's Wholesale Club leasehold acquisition at Home Depot Plaza totaled $8.5 million.
• Minor pointStructured investments received $114.6 million in repayments, partially offset by $38.8 million deployed during the quarter.
• Minor pointSubsequent structured investments totaled $48.6 million, with continued rights of first offer or refusal on underlying centers.
• Minor pointQuarter-end immediate liquidity exceeded $2.5 billion, including $545 million cash and full $2.0 billion revolver availability.
• Minor point. Forward-looking: it has not happened yet and may not happen.2026 credit-loss assumption improved to 50–60 basis points of pro-rata rental revenue from 55–75 basis points.
• Minor point. Forward-looking: it has not happened yet and may not happen.2026 lease-termination income outlook increased to $10–$15 million from $7–$15 million.
• Minor point. Forward-looking: it has not happened yet and may not happen.2026 non-cash GAAP revenue outlook increased to $57–$60 million from $48–$53 million.
• Minor point. Forward-looking: it has not happened yet and may not happen.2026 net general and administrative expense outlook narrowed to $128–$130 million from $128–$132 million.
• Minor pointThird-quarter operating and maintenance expense fell to $89.416 million from $92.434 million a year earlier.
• Minor pointThird-quarter depreciation and amortization fell to $155.945 million from $158.269 million a year earlier.

Negative

• Moderate pointCommon-shareholder earnings growth primarily reflected $122.4 million more property-sale gains, net of impairments, excluded from FFO.
• Moderate pointNotes payable, net, rose to $8,043.092 million from $7,718.730 million at December 31, 2025.
• Minor pointThird-quarter impairment charges increased to $7.984 million from $0.440 million a year earlier.
• Minor pointThird-quarter interest expense increased to $87.721 million from $84.261 million a year earlier.
• Minor pointThird-quarter credit loss represented 45 basis points of total pro-rata rental revenues.

4 minor points

• Minor pointThird-quarter real estate taxes increased to $68.015 million from $67.384 million a year earlier.
• Minor pointThird-quarter general and administrative expense increased to $29.959 million from $29.646 million a year earlier.
• Minor pointThird-quarter rent expense increased to $4.226 million from $4.164 million a year earlier.
• Minor point. Forward-looking: it has not happened yet and may not happen.2026 redevelopment capital-spending outlook increased to $140–$150 million from $125–$150 million.

News Explained

After September 30, Kimco repaid a $500 million unsecured note, reducing debt after rather than at quarter-end.

Kimco completed sales of four Costco-anchored assets for about $127 million and used 1031 exchange proceeds to fund two center acquisitions: Pompano Marketplace for $53 million and Sunshine Plaza for $56 million.

It also repurchased preferred depositary shares: 753,707 Class N shares for $48.2 million, 624,716 Class L shares for $12.5 million, and 654,969 Class M shares for $13.3 million.

Key Figures

Net income per diluted share: $0.41 vs. $0.19 FFO per diluted share: 6.8% growth to $0.47 Portfolio occupancy: 96.6% +5 more

Net income per diluted share

$0.41 vs. $0.19

Q3 2026 vs. Q3 2025

FFO per diluted share

6.8% growth to $0.47

Q3 2026

Portfolio occupancy

96.6%

Record portfolio occupancy

Cash rent spreads

31.5%

Comparable new leases

Same-property NOI growth

4.9%

Year over year

2026 net income outlook

$1.07–$1.09 per diluted share, raised from $1.00–$1.03

Full-year 2026 guidance

2026 FFO outlook

$1.84–$1.86 per diluted share, raised from $1.83–$1.84

Full-year 2026 guidance

Quarterly common dividend

$0.28 per share; 7.7% increase

Compared with the corresponding period of the prior year

Previous Earnings Reports

2 past events · Latest: Aug 04

Same Type 2 events

1. Aug 04

   Q2 earnings report

   24h Move

   -1.6%

   Raised 2026 guidance with FFO growth despite lower net income year over year

2. Oct 30

   Q3 earnings report

   24h Move

   -1.9%

   Raised full-year outlook while reporting 95.7% occupancy and $0.44 FFO per diluted share

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

reit, funds from operations, net operating income, cap rate, +1 more

5 terms

reit financial

"real estate investment trust (“REIT”)"

A real estate investment trust (REIT) is a company that owns, operates, or finances income-producing real estate, like shopping centers, apartments, or office buildings. For investors, REITs offer a way to invest in real estate without having to buy property directly, often providing regular income through dividends. They function like a mutual fund for real estate, making it easier for people to add property investments to their portfolio.

funds from operations financial

"Funds From Operations* ("FFO") per diluted share"

Funds from operations (FFO) measures the cash a real estate-focused company generates from its core property operations by adjusting net income to add back non-cash expenses like building depreciation and removing one-time gains or losses from property sales. Investors use FFO like a household’s monthly take-home pay—it's a clearer view of ongoing cash available to pay dividends, maintain properties and fund growth than raw accounting profit.

View in glossary

net operating income financial

"same property net operating income* ("NOI")"

Net operating income is the profit a business makes from its core operations after subtracting the costs directly related to running those operations, but before accounting for taxes, interest, or other expenses. It shows how efficiently a company is generating income from its main activities. Investors use this figure to assess the company's operational performance and profitability.

cap rate financial

"The cap rate on this transaction was approximately 5.1%"

The cap rate is a way to estimate how much money a real estate investment might generate relative to its purchase price. Think of it as a measure of the property's annual income divided by its value, helping investors compare different properties quickly. A higher cap rate generally indicates a potentially higher return but may also come with more risk.

mezzanine loan financial

"the associated $35 million mezzanine loan was repaid in full at closing"

A mezzanine loan is a type of financing that sits between a primary bank loan and equity ownership: it has a lower priority for repayment than the main loan but ranks above shareholders. Think of it as a bridge loan that fills the gap when a company needs extra cash for a buyout, expansion, or project, often carrying higher interest and sometimes a small equity stake. For investors, mezzanine debt offers higher returns but more risk than senior loans and can affect shareholder value if converted into ownership.

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– Portfolio Occupancy Reaches All-time High –
– Raises 2026 Outlook on Growth in Net Income & FFO –
– Same Property NOI Growth Accelerates –

JERICHO, N.Y., Oct. 29, 2026 (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 reported results for the third quarter ended September 30, 2026. For the three months ended September 30, 2026 and 2025, Net income available to the company’s common shareholders (“Net income”) per diluted share was $0.41 and $0.19, respectively.

Third Quarter Highlights

• Delivered 6.8% growth in Funds From Operations* ("FFO") per diluted share to $0.47.
• Reached record portfolio occupancy of 96.6%, while small-shop occupancy matched its all-time high of 92.9%.
• Achieved pro-rata cash rent spreads of 31.5% on comparable new leases.
• Grew same property net operating income* ("NOI") 4.9% year-over-year.
• Completed the sale of The Witmer, a 440-unit multifamily building at Pentagon Centre, for $211.5 million.
• Repurchased 6.3 million shares of common stock totaling $150 million and repurchased approximately $74 million of preferred stock.

"Our third quarter results reflect strong execution, with record occupancy, significant pricing power on new leases and further acceleration in same property NOI growth. During the quarter, we sold a multifamily property at approximately a 5% cap rate and redeployed the capital toward the repurchase of $150 million of our common stock at an implied cap rate in the mid-7% range, while continuing to recycle lower-growth ground leases into higher-growth grocery-anchored centers," said Conor Flynn, Kimco CEO. "We still see further opportunity to drive our results higher, including $76 million of annual base rent from leases signed but yet to commence. This positive momentum allowed us to again raise our full year guidance, which would mark the third consecutive year of FFO per share growth above 5%. We remain committed to growing earnings and creating long-term shareholder value."

Financial Results

Net income for the third quarter of 2026 was $272.5 million, or $0.41 per diluted share, compared to $130.2 million, or $0.19 per diluted share, for the third quarter of 2025. The year-over-year increase was primarily driven by $122.4 million more of gains on sales of properties, net of impairments.

FFO was $316.2 million, or $0.47 per diluted share, for the third quarter of 2026, compared to $300.3 million, or $0.44 per diluted share, for the third quarter of 2025. Gains on sales of properties, net of impairments, are excluded from the company's calculation of FFO.

*Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.

Third Quarter 2026 Operating Results

• Executed 444 leases totaling 2.7 million square feet, generating blended pro-rata cash rent spreads of 12% on comparable spaces, including 31.5% on new leases, 7.3% on renewals and 7.7% on options.
• Record 96.6% pro-rata leased occupancy reflecting increases of 20 basis points sequentially and 90 basis points year-over-year.
• Small-shop occupancy remained at a record 92.9%, representing an increase of 40 basis points year-over-year.
• Pro-rata anchor occupancy increased 40 basis points sequentially and 120 basis points year-over-year to 98.2%.
• Generated 4.9% growth in same property NOI year-over-year, driven by a 3.2% increase in minimum rents. Credit loss, as a percentage of total pro-rata rental revenues, was 45 basis points during the quarter.
• The spread between the company's pro-rata leased versus economic occupancy rates was 390 basis points, a 10 basis point sequential compression, representing $76 million in future rents from signed leases that have not yet commenced.

Transactional Activities

• Sold The Witmer, a 440-unit multifamily building at the company's Pentagon Centre mixed-use property in Pentagon City, Virginia, for $211.5 million. The cap rate on this transaction was approximately 5.1%, and the company's pro-rata share of the sales price was $116.3 million.
• Completed the sale of four Costco-anchored assets comprising two entire shopping center properties and two ground lease parcels, for aggregate sales price of approximately $127 million. The sale, which was previously announced, reflects Kimco's continued focus on optimizing portfolio growth by recycling capital from assets with lower contractual rent growth into higher-yielding investments. 1031 exchange proceeds were used to fund the acquisitions of two centers:
  • Pompano Marketplace, a 239,000-square-foot Walmart-anchored center, located in Pompano Beach, Florida, for $53 million, marking the third acquisition completed through the company's Structured Investment Program; the associated $35 million mezzanine loan was repaid in full at closing; and
  • Sunshine Plaza, a 241,000-square-foot Publix-anchored center, located in a first-ring suburb of Fort Lauderdale, Florida, for $56 million.
• Sold three shopping centers and two land parcels for an aggregate sales price of $51.8 million, of which the company’s pro-rata share was $15.1 million.
• Acquired the leasehold interest of BJ's Wholesale Club at Home Depot Plaza in North Haven, Connecticut, for $8.5 million.
• Kimco’s Structured Investment Program received repayments of $114.6 million, inclusive of the Pompano Marketplace repayment, partially offset by $38.8 million of new capital deployed during the third quarter. Subsequently, the company made two new structured investments totaling $48.6 million. The company continues to secure rights of first offer or refusal on the underlying shopping centers.
  

Capital Market Activities

• Repaid two unsecured notes in the aggregate principal amount of $266.0 million at a blended coupon of 3.45%.
• Repurchased 753,707 depositary shares of the company’s 7.25% Class N Convertible Preferred Stock for $48.2 million, or an average of $64.00 per share. The company also repurchased 624,716 Class L depositary shares for $12.5 million and 654,969 depositary shares of its Class M Preferred Stock for $13.3 million, at average prices of $19.94 and $20.34 per share, respectively.
• Repurchased 6.3 million shares of common stock at a weighted average price of $23.81 per share, including fees and commissions, for a total of $150 million.
• Over $2.5 billion of immediate liquidity, including $545 million of cash, cash equivalents and restricted cash, and full availability under the company's $2.0 billion unsecured revolving credit facility at quarter end.
• Subsequent to quarter end, repaid an unsecured note in the principal amount of $500 million with a coupon of 2.80%.
  

Dividend Declarations

• The board of directors declared a cash dividend of $0.28 per common share (equivalent to $1.12 per annum), representing a 7.7% increase over the quarterly dividend in the corresponding period of the prior year. The quarterly cash dividend on common shares will be payable on December 18, 2026, to shareholders of record on December 4, 2026.
• The board of directors also declared quarterly dividends with respect to each of the company’s Class L, Class M, and Class N preferred shares. These dividends on the preferred shares will be paid on January 15, 2027 to shareholders of record on January 4, 2027.

2026 Full Year Outlook

The company has raised its 2026 outlook for Net income and FFO per diluted share as follows:

	Current	Previous
Net income:	$1.07 to $1.09	$1.00 to $1.03
FFO:	$1.84 to $1.86	$1.83 to $1.84

The company’s full year outlook is based on the following assumptions (pro-rata share unless otherwise stated; dollars in millions):

	YTD Actual Through 9.30.26	Current	Previous
Same property NOI growth	+3.3%	+3.5% to +3.8%	+3.0% to +3.5%
Credit loss as a % of total pro-rata rental revenues	(51bps)	(50bps) to (60bps)	(55bps) to (75bps)
Lease termination income	$9	$10 to $15	$7 to $15
Non-cash GAAP revenues(1)	$49	$57 to $60	$48 to $53
Consolidated G&A expense, net	$97	$128 to $130	$128 to $132
Consolidated interest expense and preferred stock dividends	$276	$369 to $371	$368 to $372
Consolidated mortgage and other financing income, net	$37	Unchanged	$45 to $50
Redevelopment capex(2)	$129	$140 to $150	$125 to $150
Leasing and maintenance capex(3)	$194	Unchanged	$275 to $300
Property acquisitions, net of dispositions	($274)	Net neutral; transaction volume of $400 to $500	Net neutral; transaction volume of $300 to $500
Acquisitions, weighted average cap rate Dispositions, weighted average cap rate	$118; 5.8% ($391); 5.1%	~6.0% ~5.0%	6.0% to 7.0% 5.0% to 6.0%
Structured investments, net of repayments(4) Weighted average yield	($42) 10.2%	Unchanged ~10.0%	$75 to $125 8.0% to 10.0%

(1) Includes deferred rents, above and below market rents, and straight-line reimbursement income, and excludes debt mark to market amortization.
(2) Includes costs associated with a mixed-use development project, The Chester at Westlake Shopping Center.
(3) Includes tenant improvements and allowances, capitalized external leasing commissions and capitalized building improvements.
(4) Structured investments, net of repayments, total approximately $6.5 million with a weighted average yield of 10.2% through October 28, 2026.

Conference Call Information

When: 8:30 AM ET, October 29, 2026

Live Webcast: 3Q26 Kimco Realty Earnings Conference Call or on Kimco Realty’s website investors.kimcorealty.com

Dial #: 1-833-461-5787 (International: +1 585-542-9983). Meeting ID: 639421184

Audio from the conference will be available on Kimco Realty’s investor relations website until January 27, 2027.

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, 2026, the company owned interests in 561 U.S. shopping centers and mixed-use assets comprising 99 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 maintain certain debt 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” and elsewhere in our most recent Annual Report on Form 10-K and in the Company’s other filings with the Securities and Exchange Commission (“SEC”). 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 on related subjects in the Company’s quarterly reports on Form 10-Q and current reports on Form 8-K that the Company files with the SEC. Certain forward-looking and other statements in this press release, or other locations, such as our corporate website, contain various corporate responsibility standards and frameworks (including standards for the measurement of underlying data). As such, such information may not be, and should not be interpreted as necessarily being, “material” under the federal securities laws for SEC reporting purposes, even if we use the word “material” or “materiality” in this document. Corporate Responsibility information is also often reliant on third-party information or methodologies that are subject to evolving expectations and best practices, and our approach to and discussion of these matters may continue to evolve as well. For example, our disclosures may change due to revisions in framework requirements, availability of information, changes in our business or applicable governmental policies, or other factors, some of which may be beyond our control.

CONTACT:
David F. Bujnicki
Senior Vice President, Investor Relations and Strategy
Kimco Realty Corporation
(833) 800-4343
dbujnicki@kimcorealty.com

Condensed Consolidated Balance Sheets
(in thousands, except share data)
(unaudited)
	September 30, 2026				December 31, 2025
Assets:
Real estate, net of accumulated depreciation and amortization
of $5,016,765 and $4,849,564, respectively	$	16,603,721			$	16,769,292
Investments in and advances to real estate joint ventures		1,248,541				1,454,051
Other investments		153,199				99,936
Cash, cash equivalents and restricted cash		544,916				212,794
Mortgage and other financing receivables, net		339,417				383,935
Accounts and other receivables, net		373,935				368,964
Operating lease right-of-use assets, net		124,444				127,596
Other assets		332,024				271,682
Total assets	$	19,720,197			$	19,688,250
Liabilities:
Notes payable, net	$	8,043,092			$	7,718,730
Mortgages payable, net		428,929				467,203
Accounts payable and accrued expenses		330,546				291,537
Intangible liabilities, net		315,300				334,527
Operating lease liabilities		118,006				120,078
Other liabilities		165,284				188,297
Total liabilities		9,401,157				9,120,372
Redeemable noncontrolling interests		-				24,506
Stockholders' Equity:
Preferred stock, $1.00 par value, authorized 7,054,000 shares;
Issued and outstanding (in series) 18,715 and 20,748 shares, respectively;
Aggregate liquidation preference $483,519 and $553,196, respectively		19				21
Common stock, $.01 par value, authorized 1,500,000,000 shares;
Issued and outstanding 664,490,367 and 674,093,047 shares, respectively		6,645				6,741
Paid-in capital		10,626,500				10,922,596
Cumulative distributions in excess of net income		(490,651	)			(528,730	)
Accumulated other comprehensive income/(loss)		15,028				(8,792	)
Total stockholders' equity		10,157,541				10,391,836
Noncontrolling interests		161,499				151,536
Total equity		10,319,040				10,543,372
Total liabilities and equity	$	19,720,197			$	19,688,250

	Condensed Consolidated Statements of Income
	(in thousands, except per share data)
	(unaudited)
		Three Months Ended September 30,								Nine Months Ended September 30,
			2026				2025				2026				2025
	Revenues
	Revenues from rental properties, net	$	539,725			$	531,113			$	1,638,960			$	1,583,329
	Management and other fee income		6,422				4,748				16,004				14,331
	Total revenues		546,147				535,861				1,654,964				1,597,660
	Operating expenses
	Rent		(4,226	)			(4,164	)			(12,455	)			(12,590	)
	Real estate taxes		(68,015	)			(67,384	)			(212,089	)			(203,854	)
	Operating and maintenance		(89,416	)			(92,434	)			(279,776	)			(273,056	)
	General and administrative		(29,959	)			(29,646	)			(97,095	)			(96,485	)
	Impairment charges		(7,984	)			(440	)			(14,650	)			(8,619	)
	Depreciation and amortization		(155,945	)			(158,269	)			(461,450	)			(473,045	)
	Total operating expenses		(355,545	)			(352,337	)			(1,077,515	)			(1,067,649	)
	Gain on sale of properties		89,382				3,705				106,451				43,514
	Operating income		279,984				187,229				683,900				573,525
	Other income/(expense)
	Other income/(expense), net		3,186				(2,319	)			(63	)			789
	Mortgage and other financing income, net		12,630				12,375				36,549				35,706
	Interest expense		(87,721	)			(84,261	)			(254,751	)			(245,842	)
	Income before income taxes, net, equity in income of joint ventures, net,
	and equity in income/(loss) of other investments, net		208,079				113,024				465,635				364,178
	(Provision)/benefit for income taxes, net		(149	)			875				86				45
	Equity in income of joint ventures, net		73,909				26,967				131,166				73,640
	Equity in income/(loss) of other investments, net		229				(811	)			5,491				1,637
	Net income		282,068				140,055				602,378				439,500
	Net income attributable to noncontrolling interests		(2,994	)			(2,280	)			(5,112	)			(5,922	)
	Net income attributable to the company		279,074				137,775				597,266				433,578
	Preferred dividends, net		(6,609	)			(7,536	)			(21,681	)			(22,775	)
	Net income available to the company's common shareholders	$	272,465			$	130,239			$	575,585			$	410,803
	Per common share:
	Net income available to the company's common shareholders: (1)
	Basic	$	0.41			$	0.19			$	0.86			$	0.61
	Diluted (2)	$	0.41			$	0.19			$	0.85			$	0.60
	Weighted average shares:
	Basic		666,460				674,639				669,814				675,433
	Diluted (2)		669,193				675,423				673,989				676,286
(1)	Adjusted for earnings attributable to participating securities of ($1,401) and ($640) for the three months ended September 30, 2026 and 2025, respectively. Adjusted for earnings attributable to participating securities of ($2,165) and ($1,867) for the nine months ended September 30, 2026 and 2025, respectively.
(2)	Reflects the potential impact if convertible preferred shares and certain units were converted to common stock at the beginning of the period. The impact of the conversion of preferred shares and certain units would have an anti-dilutive effect on net income and therefore have not been included. Adjusted for distributions on preferred shares and convertible units of $684 and $0 for the three months ended September 30, 2026 and 2025, respectively. Adjusted for distributions on preferred shares and convertible units of $2,771 and $27 for the nine months ended September 30, 2026 and 2025, respectively. Additionally, there were potentially issuable shares related to the Exchangeable Senior Notes that were not dilutive as of September 30, 2026.

	Reconciliation of Net Income Available to the Company's Common Shareholders to the FFO Available to the Company's Common Shareholders (1)
	(in thousands, except per share data)
	(unaudited)
			Three Months Ended September 30,								Nine Months Ended September 30,
				2026				2025				2026				2025
	Net income available to the company's common shareholders		$	272,465			$	130,239			$	575,585			$	410,803
	Gain on sale of properties			(89,382	)			(3,705	)			(106,451	)			(43,514	)
	Gain on sale of joint venture properties			(50,559	)			(5,803	)			(60,496	)			(6,587	)
	Depreciation and amortization - real estate related			154,993				157,152				458,494				469,529
	Depreciation and amortization - real estate joint ventures			18,989				19,656				58,954				63,521
	Impairment charges (including real estate joint ventures)			8,505				440				15,171				8,619
	Provision for loan losses, net			-				1,900				-				1,900
	Profit participation from other investments, net			755				1,752				(3,500	)			906
	Loss/(gain) on marketable securities/derivative, net			65				646				89				(1,802	)
	(Benefit)/provision for income taxes, net (2)			(7	)			(1,217	)			1				(1,355	)
	Noncontrolling interests (2)			365				(744	)			(1,240	)			(2,253	)
	FFO available to the company's common shareholders		$	316,189			$	300,316			$	936,607			$	899,767
	Weighted average shares outstanding for FFO calculations:
	Basic			666,460				674,639				669,814				675,433
	Units			3,792				3,576				3,814				3,297
	Convertible preferred shares			1,767				3,185				2,708				3,217
	Dilutive effect of equity awards			878				732				859				762
	Diluted (3)			672,897				682,132				677,195				682,709
	FFO per common share - basic		$	0.47			$	0.45			$	1.40			$	1.33
	FFO per common share - diluted (3)		$	0.47			$	0.44			$	1.39			$	1.33
(1)	The company considers FFO to be an important supplemental measure of its operating performance and believes it is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting results. Comparison of the company's presentation of FFO to similarly titled measures for other REITs may not necessarily be meaningful due to possible differences in the application of the Nareit definition used by such REITs.
(2)	Related to gains, impairments, depreciation on properties and gains/(losses) on marketable securities and derivatives, where applicable.
(3)	Reflects the potential impact if convertible preferred shares and certain units were converted to common stock at the beginning of the period. FFO available to the company’s common shareholders would be increased by $1,799 and $2,186 for the three months ended September 30, 2026 and 2025, respectively. FFO available to the company's common shareholders would be increased by $6,353 and $6,233 for the nine months ended September 30, 2026 and 2025, respectively. The effect of other certain convertible units would have an anti-dilutive effect upon the calculation of FFO available to the company’s common shareholders per share. Accordingly, the impact of such conversion has not been included in the determination of diluted FFO per share calculations. Additionally, there were potentially issuable shares related to the Exchangeable Senior Notes that were not dilutive as of September 30, 2026.

	Reconciliation of Net Income Available to the Company's Common Shareholders
	to Same Property NOI (1)(2)
	(in thousands)
	(unaudited)
		Three Months Ended September 30,										Nine Months Ended September 30,
			2026				2025						2026				2025
	Net income available to the company's common shareholders	$	272,465			$	130,239					$	575,585			$	410,803
	Adjustments:
	Management and other fee income		(6,422	)			(4,748	)					(16,004	)			(14,331	)
	General and administrative		29,959				29,646						97,095				96,485
	Impairment charges		7,984				440						14,650				8,619
	Depreciation and amortization		155,945				158,269						461,450				473,045
	Gain on sale of properties		(89,382	)			(3,705	)					(106,451	)			(43,514	)
	Other (income)/expense, net		(3,186	)			2,319						63				(789	)
	Mortgage and other financing income, net		(12,630	)			(12,375	)					(36,549	)			(35,706	)
	Interest expense		87,721				84,261						254,751				245,842
	Provision/(benefit) for income taxes, net		149				(875	)					(86	)			(45	)
	Equity in (income)/loss of other investments, net		(229	)			811						(5,491	)			(1,637	)
	Net income attributable to noncontrolling interests		2,994				2,280						5,112				5,922
	Preferred dividends, net		6,609				7,536						21,681				22,775
	Non same property net operating income		(22,738	)			(29,003	)					(82,896	)			(78,526	)
	Non-operational expense from joint ventures, net		(24,237	)			21,003						19,785				74,913
	Same property NOI	$	405,002			$	386,098					$	1,202,695			$	1,163,856
(1)	Same property Net Operating Income (“NOI”) is a supplemental non-GAAP financial measure of real estate companies' operating performance and should not be considered an alternative to net income in accordance with GAAP or as a measure of liquidity. Same property NOI is considered by management to be an important operating performance measure frequently used by analysts and investors because it includes only the NOI of operating properties that have been owned and stabilized for the entire current and prior year reporting periods. Same property NOI assists in eliminating disparities due to the development, redevelopment, acquisition and disposition of properties during the periods presented and thus provides a more consistent performance measure for the comparison of the Company's properties. Same property NOI is calculated using rental property revenues (excluding straight-line rent adjustments, lease termination income, net, and amortization of above/below market rents), less charges for credit losses, operating and maintenance expenses, real estate taxes, and rent expenses, plus the Company's proportionate share of same property NOI from unconsolidated real estate joint ventures, calculated on the same basis. The Company's method of calculating same property NOI, which may differ from methods used by other REITs and may not be comparable to them, discloses with and without the impact from redevelopment projects.
(2)	Amounts represent the company's pro-rata share.

Reconciliation of the Projected Range of Net Income Available to the Company's Common Shareholders
to Funds From Operations Available to the Company's Common Shareholders
(unaudited, all amounts shown are per diluted share)
		Projected Range
		Full Year 2026
		Low				High
Net income available to the company's common shareholders		$	1.07			$	1.09
Gain on sale of properties			(0.16	)			(0.18	)
Gain on sale of joint venture properties			(0.09	)			(0.10	)
Depreciation & amortization - real estate related			0.90				0.92
Depreciation & amortization - real estate joint ventures			0.11				0.12
Impairment charges (including real estate joint ventures)			0.02				0.02
Profit participation from other investments, net			(0.01	)			(0.01	)
FFO available to the company's common shareholders		$	1.84			$	1.86
Projections involve numerous assumptions such as rental income (including assumptions on percentage rent), interest rates, tenant defaults, occupancy rates, international tariffs, selling prices of properties held for disposition, expenses (including salaries and employee costs), insurance costs and numerous other factors. Not all of these factors are determinable at this time and actual results may vary from the projected results, and may be above or below the range indicated. The above range represents management’s estimate of results based upon these assumptions as of the date of this press release.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Kimco Realty's third-quarter 2026 earnings and FFO?

Kimco reported common-shareholder net income of $272.5 million, or $0.41 per diluted share, and FFO of $316.2 million, or $0.47 per diluted share. A year earlier, those figures were $130.2 million, or $0.19, and $300.3 million, or $0.44, respectively. FFO excludes property-sale gains, net of impairments.

What is Kimco Realty's updated 2026 earnings guidance?

Kimco expects 2026 net income of $1.07–$1.09 per diluted share and FFO of $1.84–$1.86 per diluted share. Previous ranges were $1.00–$1.03 and $1.83–$1.84, respectively. The outlook assumes same-property net operating income growth of 3.5%–3.8%, versus the previous 3.0%–3.5% range.

When will Kimco Realty pay its increased common dividend?

Kimco's $0.28-per-share common dividend is payable on December 18, 2026, to shareholders of record on December 4, 2026. The quarterly amount is 7.7% above the corresponding prior-year dividend and is equivalent to $1.12 per share annually.

What investment and capital-spending assumptions underpin Kimco Realty's 2026 outlook?

Kimco assumes net-neutral property acquisitions and dispositions, with transaction volume of $400–$500 million. Expected weighted-average acquisition and disposition capitalization rates are approximately 6.0% and 5.0%, respectively. Leasing and maintenance capital spending remains $275–$300 million, while structured investments net of repayments remain $75–$125 million, with an approximately 10.0% weighted-average yield.