Kimco Realty Q1 net income per share rises 28% on higher minimum rents

Kimco Realty

30/04/2026 11:58

Overview

U.S. shopping center REIT's Q1 net income per share rose 28% yr/yr

Q1 FFO per diluted share grew 4.5% yr/yr

Company declared 4% increase in quarterly dividend and raised 2026 net income outlook

Outlook

Kimco Realty raises 2026 net income per diluted share outlook to $0.83-$0.87 from $0.80-$0.84

Company now sees 2026 FFO per diluted share at $1.81-$1.84, up from $1.80-$1.84

Kimco expects 2026 same property NOI growth of 2.8% to 3.5%

Result Drivers

RENTAL INCOME GROWTH - Higher minimum rents and increased reimbursement income drove consolidated revenue growth

LEASING ACTIVITY - Strong leasing with 4.4 mln sq ft signed and blended cash rent spreads of 11.3% on comparable leases

OCCUPANCY IMPROVEMENT - Year-over-year increases in pro-rata leased and anchor occupancy rates

Company press release: ID:nGNXbcyt6X

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.23
Q1 Net Income
$157.40 mln
Q1 FFO
$311.30 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 15 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the commercial reits peer group is "buy"

Wall Street's median 12-month price target for Kimco Realty Corp is $25.00, about 5.8% above its April 29 closing price of $23.64

The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 28 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)