Kimco Realty's Q4 performance exceeds expectations, with occupancy rate reaching a record high

2026-02-12 12:25:22

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JERICHO, NY — On Thursday, Kimco Realty (NYSE: KIM) reported fourth-quarter earnings that exceeded analyst expectations. The shopping center owner posted earnings of $0.21 per share, beating estimates by $0.03. Quarterly revenue was $542.46 million, surpassing the consensus estimate of $537.32 million.

Following the earnings release, the company’s stock rose 1.05% in after-hours trading, as investors responded positively to the better-than-expected earnings and revenue.

In the fourth quarter, Kimco’s Funds From Operations (FFO) on a diluted share basis increased 4.8% year-over-year to $0.44.

The company also reported that same-store net operating income (NOI) for Q4 and the full year of 2025 grew 3.0% year-over-year.

Kimco CEO Conor Flynn stated, “Kimco’s fourth-quarter and full-year performance, especially the 6.7% increase in full-year 2025 FFO per share, exceeding 5% for the second consecutive year, validates the quality of our portfolio and platform.”

The key drivers of this performance were strong leasing activity, with the pro-rata occupancy rate reaching 96.4%, matching the company’s all-time high. The pro-rata occupancy rate for small shops set a new record at 92.7%, while anchor stores’ occupancy reached 97.9%.

This quarter, Kimco signed 435 leases totaling 2.7 million square feet, generating a 13.8% pro-rata blended cash rent growth on comparable space, with new lease growth at 29.0%.

Looking ahead, Kimco provided guidance for 2026, expecting FFO per share in the range of $1.80 to $1.84, and net income per share between $0.80 and $0.84. The company also projects same-store NOI growth of 2.5% to 3.5% for the full year.

As of the end of 2025, the company had over $2.2 billion in immediate liquidity, including full availability of its $2 billion unsecured revolving credit facility.

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