Kimco Realty Corporation (KIM)

Kimco reported Q1 FFO of $0.44, surpassing estimates, leading to a 4.9% stock increase on May 1, and raised its 2025 FFO view. There was a board leadership transition announced in January 2025. Kimco announced the pricing of $500 million aggregate principal amount of 5.300% notes due 2036. Barclays initiated coverage with an "Overweight" rating, Piper Sandler maintained a "Buy" rating, and Mizuho Securities maintained a "Hold" rating in July 2025. The company declared a quarterly dividend of $0.25 per share, paid on June 20, 2025. The market has been revising upward the revenue expectations for Kimco Realty for FY2025.

Kimco Realty's tenant mix is focused on essential, necessity-based goods and services that drive multiple shopping trips per week, suggesting a more stable and less seasonal demand compared to discretionary retail. The nature of grocery-anchored shopping centers implies a relatively consistent demand throughout the year, as consumers consistently need groceries and other essential items.

Kimco Realty Corp. is a real estate investment trust specializing in the ownership and operation of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties across the United States. The company operates within the Real Estate sector and the REIT - Retail industry, specifically focusing on shopping centers. Kimco's business model centers on acquiring, developing, and managing prime retail real estate, creating community hubs for shopping, dining, and connecting. Its tenant mix emphasizes essential, necessity-based goods and services, which are designed to drive frequent shopping trips. Beyond property ownership and management, Kimco also engages in value-enhancing redevelopment activities and offers properties and leasing services. The company also has a Structured Investment Program, which can lead to the conversion of mezzanine financing positions into wholly-owned assets.

Kimco Realty's portfolio is strategically concentrated in the first-ring suburbs of major metropolitan markets across the U.S., including high-barrier-to-entry coastal markets and rapidly expanding Sun Belt cities. As of March 31, 2025, the company owned interests in 567 U.S. shopping centers and mixed-use assets, aggregating 101 million square feet of gross leasable area, located in 30 states. This includes the acquisition of RPT Realty in January 2024, which added 56 open-air shopping centers, comprising 13.3 million square feet, bolstering Kimco's presence in sought-after Sun Belt and coastal markets.

Kimco Realty has maintained a positive brand reputation over the past year, particularly in areas of corporate responsibility and sustainability. Kimco was recognized with Nareit's 2024 Leader in the Light Award in February 2025 and was named to the Dow Jones Sustainability North America Index. Kimco earned top scores on the Human Rights Campaign Foundation (HRCF) 2025 Corporate Equality Index. Kimco has set ambitious goals to reduce its carbon footprint, including a 30% reduction in Scope 1 and 2 greenhouse gas emissions by 2030 and a long-term goal of achieving net zero emissions for Scope 1 and 2 by 2050. Kimco fosters an engaged workforce through initiatives like KIMunity Councils and Employee Resource Groups (ERGs). The company supports initiatives that enhance social impact, including the Milton Cooper Trailblazer in Real Estate Award. Kimco's focus on grocery-anchored centers and its commitment to sustainability and revitalizing local communities enhance its reputation.

Kimco Realty is primarily owned by institutional shareholders, who hold approximately 92.85% of the company's shares. Insiders own 6.13%, and retail investors hold 1.01%. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., and State Street Corp. The largest individual shareholder is Milton Cooper, owning 21.96 million shares, representing 3.25% of the company.