Kimco Realty lifts annual profit forecast, beats quarterly revenue estimates on strong leasing demand

Kimco Realty

04/08/2026 12:59

Aug 4 (Reuters) - Kimco Realty KIM.N on Tuesday raised its annual net income forecast after beating Wall Street estimates for second-quarter revenue, helped by steady leasing activity at its grocery-anchored shopping centers.
The real estate investment trust has been gaining from resilient demand for open-air retail properties amid limited availability of rental spaces. 
"The combination of limited new shopping center supply, continued consumer demand for the everyday essentials, and strong shopper traffic across our open-air portfolio supported robust leasing activity," said CEO Conor Flynn.
The company's second-quarter funds from operations (FFO), a key REIT metric, grew 4.5% from a year earlier to 46 cents per share, narrowly beating analysts' estimates of 45 cents per share, according to data compiled by LSEG.
Its total quarterly revenue of $550.8 million beat estimates of $541.7 million.
The company now expects full-year net income per share in the range of $1.00 to $1.03, compared with its prior forecast of 83 cents to 87 cents.
It also raised the lower end of its annual FFO target by 2 cents to $1.83 per share, while maintaining its upper end at $1.84 per share.

(Reporting by Shania S Thomas in Bengaluru; Editing by Jonathan Ananda)
((shanias.thomas@thomsonreuters.com))