Kimco Realty announces $500 mln exchangeable offering; shares up

Kimco Realty

10/06/2026 15:23

** Kimco Realty's KIM.N shares up 1.2% at $25.49 on Weds as it looks to raise capital
** Grocery-anchored shopping center REIT privately offering $500 mln exchangeable notes due 2031
** It intends to use net offering proceeds for general purposes, including debt repayment, and funding acquisition, investment and redevelopment opportunites
** It also plans to use up to about $125 mln to repurchase its shares to facilitate hedging by investors in the exchangeable notes
** Jericho, New York-based KIM has ~$17 bln market cap
** Stock now up ~26% YTD and well outpacing 12% gain in S&P 500 Real Estate sector .SPLRCR 
** 10 of 25 analysts rate the stock "strong buy" or "buy", 15 "hold"; median PT $25, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))