KIMCO REALTY CORP
For the period ended Jun 30, 2026. Filed Aug 4, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 4, 2026
KIM$25.52-0.4%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-04-30.
0001193125-26-195304
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-04.
0001193125-26-331817
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 137 previous paragraphs and 163 current paragraphs.
72 unchanged; 52 reworded; 35 added; 9 removed; 4 previous and 4 current paragraphs rearranged.
Tables are not compared: 8 previous and 8 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (35)
Current report
Net income available to the Company’s common shareholders was $303.1 million for the six months ended June 30, 2026, as compared to $280.6 million for the comparable period in 2025. On a diluted per common share basis, Net income available to the Company’s common shareholders for the six months ended June 30, 2026 was $0.45 as compared to $0.41 for the comparable period in 2025.
Current report
The increase in Revenues from rental properties, net of $47.0 million for the six months ended June 30, 2026, as compared to the corresponding period in 2025, is primarily from (i) a net increase in revenues from tenants of $35.4 million, primarily due to an increase in leasing activity and net growth in the current portfolio, (ii) an increase in amortization of above-market and below-market leases of $7.5 million primarily from vacated tenants, (iii) an increase in revenues of $6.1 million due to properties acquired during 2025, (iv) an increase in net straight-line rental income of $3.1 million and (v) a net increase of $1.6 million due to changes in credit losses from tenants, partially offset by (vi) a decrease in lease termination fee income of $3.6 million and (vii) a decrease in revenues of $3.1 million due to dispositions during 2026 and 2025.
Current report
Real estate taxes –
Current report
The increases in Real estate taxes of $4.7 million and $7.6 million for the three and six months ended June 30, 2026, as compared to the corresponding periods in 2025, are primarily due to (i) an overall increase in assessed values in the current portfolio and (ii) timing of real estate tax refunds.
Current report
The increase in Operating and maintenance expense of $9.7 million for the six months ended June 30, 2026, as compared to the corresponding period in 2025, is primarily due to (i) an increase in snow removal costs of $4.3 million, (ii) an overall increase in utility expenses of $3.4 million, (iii) an increase in repairs and maintenance expense of $2.8 million and (iv) an overall increase in operating costs of $0.7 million, partially offset by (v) lower insurance expense of $1.5 million.
Current report
Impairment charges –
Current report
During the six months ended June 30, 2026, the Company recognized a $5.6 million impairment charge related to its investment in preferred stock following the investee’s bankruptcy restructuring filing. During the six months ended June 30, 2026 and 2025, the Company recognized impairment charges related to adjustments to property carrying values of $1.1 million and $8.2 million, respectively, for which the Company’s estimated fair values were primarily based upon signed contracts or letters of intent from third-party offers. These adjustments to property carrying values were recognized in connection with the Company’s efforts to market certain properties and management’s assessment as to the likelihood and timing of such potential transactions. Certain of the calculations to determine fair values utilized unobservable inputs and, as such, were classified as Level 3 of the FASB’s fair value hierarchy.
Current report
Depreciation and amortization –
Current report
The decrease in Depreciation and amortization of $7.3 million for the three months ended June 30, 2026, as compared to the corresponding period in 2025, is primarily due to (i) a net decrease of $17.0 million due to fully depreciated assets and write-offs, primarily from demolition, vacated tenants and dispositions during 2026 and 2025, partially offset by (ii) an increase of $8.2 million due to depreciation commencing on certain redevelopment projects and tenant improvement projects that were placed into service during 2026 and 2025 and (iii) an increase of $1.5 million resulting from properties acquired during 2025.
Current report
The decrease in Depreciation and amortization of $9.3 million for the six months ended June 30, 2026, as compared to the corresponding period in 2025, is primarily due to (i) a net decrease of $27.4 million due to fully depreciated assets and write-offs, primarily from demolition, vacated tenants and dispositions during 2026 and 2025, partially offset by (ii) an increase of $16.2 million due to depreciation commencing on certain redevelopment projects and tenant improvement projects that were placed into service during 2026 and 2025 and (iii) an increase of $1.9 million resulting from properties acquired during 2025.
Current report
Other (expense)/income, net –
Current report
The change in Other (expense)/income, net of $4.5 million for the three months ended June 30, 2026, as compared to the corresponding period in 2025, is primarily due to (i) lower income of $2.8 million due to mark-to-market fluctuations of an embedded derivative liability and (ii) an increase in expense of $2.6 million from various settlements during 2026, partially offset by (iii) an increase in interest income of $1.6 million resulting from higher cash balances during 2026 as compared to 2025.
Current report
The change in Other (expense)/income, net of $6.4 million for the six months ended June 30, 2026, as compared to the corresponding period in 2025, is primarily due to (i) an increase in net expense of $3.9 million from various settlements during 2026 and 2025 and (ii) lower income of $2.5 million due to mark-to-market fluctuations of an embedded derivative liability, partially offset by (iii) $1.8 million in lower costs associated with potential transactions for which the Company is no longer pursuing.
Current report
Interest expense –
Current report
The increase in Interest expense of $5.4 million for the six months ended June 30, 2026, as compared to the corresponding period in 2025, is primarily due to (i) the issuance of unsecured notes and assumption of mortgage loans during 2026 and 2025, partially offset by (ii) the paydown of unsecured notes and repayment of mortgage loans during 2026 and 2025.
Current report
Equity in income of joint ventures, net –
Current report
The increase in Equity in income of joint ventures, net of $8.5 million for the three months ended June 30, 2026, as compared to the corresponding period in 2025, is primarily due to (i) the recognition of a $9.9 million gain on sale of property within a joint venture investment during 2026 and (ii) higher equity in income of $3.3 million primarily due to lower depreciation and amortization expense, partially offset by (iii) lower equity in income of $4.7 million primarily due to the restructuring of a joint venture in 2025.
Current report
The increase in Equity in income of joint ventures, net of $10.6 million for the six months ended June 30, 2026, as compared to the corresponding period in 2025, is primarily due to (i) higher gains of $9.2 million recognized on sale of an operating property within a joint venture investment during 2026 compared to 2025 and (ii) higher equity in income of $6.1 million primarily due to lower depreciation and amortization expense, partially offset by (iii) lower equity in income of $4.7 million primarily due to the restructuring of a joint venture in 2025.
Current report
$39.2 million in distributions from real estate joint ventures and other investments in excess of equity in earnings.
Current report
Investing activities during the six months ended June 30, 2025 primarily consisted of:
Current report
$15.4 million in distributions from real estate joint ventures and other investments in excess of equity in earnings.
Current report
$5.4 million for investment in preferred stock and cost method investments.
Current report
$600.0 million in proceeds from exchangeable senior notes; and
Current report
$365.8 million of dividends paid;
Current report
$105.2 million for repurchase of common stock;
Current report
Financing activities during the six months ended June 30, 2025 primarily consisted of:
Current report
$500.0 million in proceeds from issuance of unsecured notes.
Current report
$354.3 million of dividends paid;
Current report
$58.8 million for repurchase of common stock;
Current report
$5.3 million in redemption/distribution of noncontrolling interests.
Current report
In addition to repurchases under the common share repurchase program, in June 2026, separate from the repurchase program described above, the Company repurchased 4.1 million shares of common stock for a total purchase price of $104.7 million (at a price of $25.38 per share) using a portion of the proceeds from the Exchangeable Senior Notes offering.
Current report
Exchangeable Senior Notes –
Current report
In June 2026, the Company issued $600.0 million in exchangeable senior notes (the “Exchangeable Senior Notes”), including $75.0 million of option notes issued pursuant to an option granted to the initial purchasers, which was exercised in full. The Exchangeable Senior Notes are schedule to mature in June 2031 and bear interest at a rate of 3.50% per annum. Before March 17, 2031, noteholders will have the right to exchange their notes only upon the occurrence of certain events. On and after March 17, 2031, noteholders may exchange their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. The Company will settle exchanges in cash and, if applicable, shares of the Company’s common stock. The initial exchange rate is 30.9028 shares of the Company's common stock per $1,000 principal amount of Exchangeable Senior Notes, which represents an initial exchange price of approximately $32.36 per share of the Company’s common stock. The Exchangeable Senior Notes will be exchangeable for cash up to the aggregate principal amount of the Exchangeable Senior Notes to be exchanged and, in respect of the remainder of the exchange obligation, if any, in excess thereof, cash, common shares or a combination thereof, at the election of the Company.
Current report
The Exchangeable Senior Notes will be redeemable, in whole or in part, for cash at the Company’s option at any time, and from time to time, on or after June 20, 2029 and on or before the 25th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of the Company’s common stock exceeds 130% of the exchange price for a specified period of time and certain other conditions are satisfied. In addition, the Exchangeable Senior Notes will be redeemable, in whole or in part (subject to certain limitations), at the Company’s option at any time to the extent necessary to preserve the Company’s status as a real estate investment trust for U.S. federal income tax purposes, so long as certain conditions are satisfied. The redemption price will be equal to the principal amount of the Exchangeable Senior Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.
Current report
The Company used a portion of the proceeds from the offering to repurchase 4.1 million shares of its commons stock for a total purchase price of $104.7 million (at a price of $25.38 per share). The Company intends to use the remainder of the net proceeds, general corporate purposes, including, but not limited to, the redemption or repayment of indebtedness and funding for suitable acquisition, investment and redevelopment opportunities.
Removed paragraphs (9)
Previous report
Equity in income of other investments, net –
Previous report
The increase in Equity in income of other investments, net of $5.1 million for the three months ended March 31, 2026, as compared to the corresponding period in 2025, is primarily due to profit participation from the sale of properties within the Company’s Preferred Equity Program during 2026.
Previous report
$8.4 million in reimbursements of investments in and advances to real estate joint ventures and other investments.
Previous report
$10.4 million in reimbursements of investments in and advances to real estate joint ventures and other investments.
Previous report
$5.0 million for a preferred stock investment; and
Previous report
$182.9 million of dividends paid;
Previous report
$120.0 million in proceeds from the Credit Facility.
Previous report
$177.5 million of dividends paid;
Previous report
$3.1 million in distributions to and redemptions of noncontrolling interests.
Reworded paragraphs (52)
Previous wording
The Company is a self-administered REIT and has owned and operated open-air shopping centers for over 65 years. The Company has not engaged, nor does it expect to retain, any REIT advisors in connection with the operation of its properties. As of March 31, 2026, the Company had interests in 565 U.S. shopping center properties, aggregating 99.6 million square feet of gross leasable area (“GLA”), located in 29 states. In addition, the Company had 65 other property interests, primarily including net leased properties, preferred equity investments, and other investments, totaling 5.1 million square feet of GLA. The Company’s ownership interests in real estate consist of its consolidated portfolio and portfolios where the Company owns an economic interest, such as properties in the Company’s investment real estate management programs, where the Company partners with institutional investors and also retains management.
Current wording
The Company is a self-administered REIT and has owned and operated open-air shopping centers for over 65 years. The Company has not engaged, nor does it expect to retain, any REIT advisors in connection with the operation of its properties. As of June 30, 2026, the Company had interests in 564 U.S. shopping center properties, aggregating 99.5 million square feet of gross leasable area (“GLA”), located in 29 states. In addition, the Company had 65 other property interests, primarily including net leased properties, preferred equity investments, and other investments, totaling 5.1 million square feet of GLA. The Company’s ownership interests in real estate consist of its consolidated portfolio and portfolios where the Company owns an economic interest, such as properties in the Company’s investment real estate management programs, where the Company partners with institutional investors and also retains management.
Previous wording
Comparison of the three months ended March 31, 2026 and 2025
Current wording
Comparison of the three and six months ended June 30, 2026 and 2025
Previous wording
The following table presents the comparative results from the Company’s Condensed Consolidated Statements of Income for the three months ended March 31, 2026, as compared to the corresponding periods in 2025 (in thousands, except per share data):
Current wording
The following table presents the comparative results from the Company’s Condensed Consolidated Statements of Income for the three and six months ended June 30, 2026, as compared to the corresponding periods in 2025 (in thousands, except per share data):
Previous wording
Net income available to the Company’s common shareholders was $157.4 million for the three months ended March 31, 2026, as compared to $125.1 million for the comparable period in 2025. On a diluted per common share basis, Net income available to the Company’s common shareholders for the three months ended March 31, 2026 was $0.23, as compared to $0.18 for the three months ended March 31, 2025.
Current wording
Net income available to the Company’s common shareholders was $145.8 million for the three months ended June 30, 2026, as compared to $155.4 million for the comparable period in 2025. On a diluted per common share basis, Net income available to the Company’s common shareholders for the three months ended June 30, 2026 was $0.22, as compared to $0.23 for the three months ended June 30, 2025.
Previous wording
The following describes the changes of certain line items included on the Company’s Condensed Consolidated Statements of Income that the Company believes changed significantly and affected Net income available to the Company’s common shareholders during the three months ended March 31, 2026, as compared to the corresponding period in 2025.
Current wording
The following describes the changes of certain line items included on the Company’s Condensed Consolidated Statements of Income that the Company believes changed significantly and affected Net income available to the Company’s common shareholders during the three and six months ended June 30, 2026, as compared to the corresponding periods in 2025.
Previous wording
The increase in Revenues from rental properties, net of $21.5 million for the three months ended March 31, 2026, as compared to the corresponding period in 2025, is primarily from (i) a net increase in revenues from tenants of $22.3 million, primarily due to an increase in leasing activity and net growth in the current portfolio and (ii) an increase in revenues of $3.3 million due to properties acquired during 2025, partially offset by (iii) a decrease in lease termination fee income of $2.5 million and (iv) a decrease in revenues of $1.6 million due to dispositions during 2026 and 2025.
Current wording
The increase in Revenues from rental properties, net of $25.5 million for the three months ended June 30, 2026, as compared to the corresponding period in 2025, is primarily from (i) a net increase in revenues from tenants of $20.6 million, primarily due to an increase in leasing activity and net growth in the current portfolio, (ii) an increase in net straight-line rental income of $3.1 million, (iii) an increase in revenues of $2.8 million due to properties acquired during 2025 and (iv) a net increase of $1.7 million due to changes in credit losses from tenants, partially offset by (v) a decrease in revenues of $1.6 million due to dispositions during 2026 and 2025 and (vi) a decrease in lease termination fee income of $1.1 million.
Previous wording
The increase in Operating and maintenance expense of $5.7 million for the three months ended March 31, 2026, as compared to the corresponding period in 2025, is primarily due to (i) an increase in repairs and maintenance expense of $3.4 million, (ii) an overall increase in utility expenses of $1.3 million and (iii) an increase in snow removal costs of $1.1 million.
Current wording
The increase in Operating and maintenance expense of $4.1 million for the three months ended June 30, 2026, as compared to the corresponding period in 2025, is primarily due to (i) an increase in snow removal costs of $3.2 million and (ii) an overall increase in utility expenses of $2.0 million, partially offset by (iii) lower insurance expense of $1.1 million.
Previous wording
During the three months ended March 31, 2026, the Company disposed of three parcels, in separate transactions, for an aggregate sales price of $47.2 million, which resulted in aggregate gains of $15.7 million. During the three months ended March 31, 2025, the Company disposed of a land parcel for an aggregate sales price of $1.5 million, which resulted in an aggregate gain of $0.9 million.
Current wording
During the six months ended June 30, 2026, the Company disposed of an operating property and three parcels, in separate transactions, for an aggregate sales price of $54.9 million, which resulted in aggregate gains of $17.1 million. During the six months ended June 30, 2025, the Company disposed of an operating property and two land parcels, in separate transactions, for an aggregate sales price of $51.9 million, which resulted in an aggregate gain of $39.8 million.
Previous wording
The Company reduces its operating and leasing risks through diversification achieved by the geographic distribution of its properties and a large tenant base. As of March 31, 2026, the Company had interests in 565 U.S. shopping center properties, aggregating 99.6 million square feet of GLA, located in 29 states. At March 31, 2026, the Company’s five largest tenants were The TJX Companies, Ross Stores, Burlington Stores, Inc., Amazon/Whole Foods and Albertsons Companies, Inc., which represented 3.7%, 2.0%, 1.8%, 1.8% and 1.6%, respectively, of the Company’s annualized base rental revenues, including the proportionate share of base rental revenues from properties in which the Company has less than a 100% economic interest.
Current wording
The Company reduces its operating and leasing risks through diversification achieved by the geographic distribution of its properties and a large tenant base. As of June 30, 2026, the Company had interests in 564 U.S. shopping center properties, aggregating 99.5 million square feet of GLA, located in 29 states. At June 30, 2026, the Company’s five largest tenants were The TJX Companies, Ross Stores, Burlington Stores, Inc., Amazon/Whole Foods and Albertsons Companies, Inc., which represented 3.7%, 2.0%, 1.8%, 1.8% and 1.7%, respectively, of the Company’s annualized base rental revenues, including the proportionate share of base rental revenues from properties in which the Company has less than a 100% economic interest.
Previous wording
Net cash flow provided by operating activities for the three months ended March 31, 2026 was $243.0 million, as compared to $223.8 million for the comparable period in 2025. The increase of $19.2 million is primarily attributable to:
Current wording
Net cash flow provided by operating activities for the six months ended June 30, 2026 was $588.3 million, as compared to $529.2 million for the comparable period in 2025. The increase of $59.1 million is primarily attributable to:
Previous wording
additional operating cash flow generated by operating properties acquired during 2026 and 2025;
Current wording
additional operating cash flow generated by operating properties acquired during 2025;
Previous wording
Net cash flow used for investing activities was $48.5 million for the three months ended March 31, 2026, as compared to $130.6 million for the comparable period in 2025.
Current wording
Net cash flow used for investing activities was $126.9 million for the six months ended June 30, 2026, as compared to $233.1 million for the comparable period in 2025.
Previous wording
Investing activities during the three months ended March 31, 2026 primarily consisted of:
Current wording
Investing activities during the six months ended June 30, 2026 primarily consisted of:
Previous wording
$23.1 million from the collection of mortgage and other financing receivables; and
Current wording
$50.0 million from the collection of mortgage and other financing receivables;
Previous wording
$44.0 million in proceeds from sale of three land parcels;
Current wording
$43.9 million in proceeds from sale of an operating property and three land parcels; and
Previous wording
$63.4 million for improvements to operating real estate, primarily related to re-tenanting, tenant improvements and redevelopment projects.
Current wording
$173.6 million for improvements to operating real estate, primarily related to re-tenanting, tenant improvements and redevelopment projects;
Previous wording
$76.4 million for investment in mortgage and other financing receivables related to new mortgage and other financing receivables; and
Current wording
$80.7 million for investment in mortgage and other financing receivables related to new mortgage and other financing receivables; and
Previous wording
$39.9 million from the collection of mortgage and other financing receivables; and
Current wording
$50.1 million from the collection of mortgage and other financing receivables; and
Previous wording
$52.1 million for improvements to operating real estate, primarily related to re-tenanting, tenant improvements and redevelopment projects;
Current wording
$138.2 million for improvements to operating real estate, primarily related to re-tenanting, tenant improvements and redevelopment projects;
Previous wording
$3.0 million for investments in and advances to real estate joint ventures and other investments, primarily related to redevelopment projects within these portfolios.
Current wording
$5.9 million for investments in and advances to real estate joint ventures and other investments, primarily related to redevelopment projects within these portfolios; and
Previous wording
The Company anticipates spending up to approximately $300.0 million to $500.0 million towards the acquisition of, or the purchase of additional interests in, operating properties for the remainder of 2026. The Company intends to fund these potential acquisitions with net cash flow provided by operating activities, cash on hand, proceeds from property dispositions, and/or availability under its Credit Facility and Commercial Paper Program. During the three months ended March 31, 2025, the Company expended $106.2 million for the acquisition of operating real estate properties.
Current wording
The Company anticipates spending up to approximately $300.0 million to $500.0 million towards the acquisition of, or the purchase of additional interests in, operating properties for the remainder of 2026. The Company intends to fund these potential acquisitions with net cash flow provided by operating activities, cash on hand, proceeds from property dispositions, and/or availability under its Credit Facility and Commercial Paper Program. During the six months ended June 30, 2025, the Company expended $106.2 million for the acquisition of operating real estate properties.
Previous wording
During the three months ended March 31, 2026 and 2025, the Company expended $63.4 million and $52.1 million, respectively, for improvements to operating real estate. These amounts consist of the following (in thousands):
Current wording
During the six months ended June 30, 2026 and 2025, the Company expended the following amounts for improvements to operating real estate (in thousands):
Previous wording
The Company, on a selective basis, will redevelop projects or re-tenant its properties to maintain or enhance its competitive position in the marketplace. The Company is actively pursuing redevelopment opportunities within its operating portfolio, including residential and mixed use components, which it believes will increase the overall value by bringing in new tenants and improving the assets’ value. The Company anticipates its capital commitment toward these redevelopment projects and re-tenanting efforts for the remainder of 2026 will be approximately $225.0 million to $275.0 million. The funding of these capital requirements will be from net cash flow provided by operating activities, cash on hand, proceeds from property dispositions, and/or availability under the Company’s Credit Facility and Commercial Paper Program.
Current wording
The Company, on a selective basis, will redevelop projects or re-tenant its properties to maintain or enhance its competitive position in the marketplace. The Company is actively pursuing redevelopment opportunities within its operating portfolio, including residential and mixed use components, which it believes will increase the overall value by bringing in new tenants and improving the assets’ value. The Company anticipates its capital commitment toward these redevelopment projects and re-tenanting efforts for the remainder of 2026 will be approximately $125.0 million to $175.0 million. The funding of these capital requirements will be from net cash flow provided by operating activities, cash on hand, proceeds from property dispositions, and/or availability under the Company’s Credit Facility and Commercial Paper Program.
Previous wording
Net cash flow used for financing activities was $237.7 million for the three months ended March 31, 2026, as compared to $650.5 million for the comparable period in 2025.
Current wording
Net cash flow provided by financing activities was $26.2 million for the six months ended June 30, 2026, as compared to net cash flows used for financing activities of $758.0 million for the comparable period in 2025.
Previous wording
Financing activities during the three months ended March 31, 2026 primarily consisted of:
Current wording
Financing activities during the six months ended June 30, 2026 primarily consisted of:
Previous wording
$17.4 million in proceeds from a mortgage loan financing.
Current wording
$17.4 million in proceeds from mortgage loan financing.
Previous wording
$19.1 million in principal payments on debt (related to the repayment of debt on an encumbered property), including normal amortization on rental property debt;
Current wording
$53.2 million in principal payments on debt (related to the repayment of debt on two encumbered properties), including normal amortization on rental property debt;
Previous wording
$40.7 million for distribution and redemption of noncontrolling interests;
Current wording
$43.2 million for distribution and redemption of noncontrolling interests;
Previous wording
$6.3 million in financing origination costs; and
Current wording
$18.8 million in financing origination costs; and
Previous wording
$6.0 million in shares repurchased for employee tax withholding on equity awards.
Current wording
$6.4 million in shares repurchased for employee tax withholding on equity awards.
Previous wording
$500.0 million for repayments of unsecured notes;
Current wording
$740.5 million for repayments of unsecured notes;
Previous wording
$52.3 million in principal payments on debt (related to the repayment of debt on three encumbered properties), including normal amortization on rental property debt;
Current wording
$55.0 million in principal payments on debt (related to the repayment of debt on three encumbered properties), including normal amortization on rental property debt;
Previous wording
$11.5 million in shares repurchased for employee tax withholding on equity awards; and
Current wording
$11.6 million in shares repurchased for employee tax withholding on equity awards;
Previous wording
Debt maturities for 2026 consist of $805.4 million of consolidated debt and $157.1 million of unconsolidated joint venture debt, assuming the utilization of extension options where available. The 2026 remaining consolidated debt maturities are anticipated to be repaid with net cash flow provided by operating activities, cash on hand, borrowings under its Credit Facility and Commercial Paper Program and/or debt refinancing, as deemed appropriate. The 2026 debt maturities on properties in the Company’s unconsolidated joint ventures are anticipated to be repaid through net cash flow provided by operating activities, debt refinancing, proceeds from sales, and/or partner capital contributions, as deemed appropriate.
Current wording
Debt maturities for 2026 consist of $773.4 million of consolidated debt and $77.7 million of unconsolidated joint venture debt, assuming the utilization of extension options where available. The 2026 remaining consolidated debt maturities are anticipated to be repaid with net cash flow provided by operating activities, cash on hand, borrowings under its Credit Facility and Commercial Paper Program and/or debt refinancing, as deemed appropriate. The 2026 debt maturities on properties in the Company’s unconsolidated joint ventures are anticipated to be repaid through net cash flow provided by operating activities, debt refinancing, proceeds from sales, and/or partner capital contributions, as deemed appropriate.
Previous wording
During February 2025, the Company filed a registration statement on Form S-8 for the Kimco Realty Corporation 2025 Equity Participation Plan (the “2025 Plan”), which was approved by the Company’s stockholders on April 29, 2025 and is a successor to the Kimco Realty Corporation 2020 Equity Participation Plan. The 2025 Plan provides for a maximum of 17.5 million shares of the
Current wording
During February 2025, the Company filed a registration statement on Form S-8 for the Kimco Realty Corporation 2025 Equity Participation Plan (the “2025 Plan”), which was approved by the Company’s stockholders on April 29, 2025 and is a successor to the Kimco Realty Corporation 2020 Equity Participation Plan. The 2025 Plan provides for a maximum of 17.5 million shares of the Company’s common stock to be reserved for the issuance of stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards, dividend equivalents, stock payments, deferred stock awards and long-term incentive plan units. At June 30, 2026, the Company had 16.2 million shares of common stock available for issuance under the 2025 Plan.
Previous wording
The Company’s Board of Directors authorized the repurchase of up to 891,000 depositary shares of Class L Preferred Stock, 1,047,000 depositary shares of Class M Preferred Stock, and 185,000 depositary shares of Class N Preferred Stock, representing an aggregate of up to 2,123 shares of the Company’s preferred stock, par value $1.00 per share. During January 2026, the Company’s Board of Directors amended this authorization to be perpetual so it does not expire. During the three months ended March 31, 2026, the Company did not repurchase any shares of preferred stock.
Current wording
The Company’s Board of Directors authorized the repurchase of up to 891,000 depositary shares of Class L Preferred Stock, 1,047,000 depositary shares of Class M Preferred Stock, and 185,000 depositary shares of Class N Preferred Stock, representing an aggregate of up to 2,123 shares of the Company’s preferred stock, par value $1.00 per share. During January 2026, the Company’s Board of Directors amended this authorization to be perpetual so it does not expire. During the six months ended June 30, 2026, the Company did not repurchase any shares of preferred stock.
Previous wording
During November 2025, the Company established an at-the-market continuous offering program (the “ATM Program”) pursuant to which the Company may offer and sell, from time-to-time, shares of its common stock, par value $0.01 per share, with an aggregate gross sales price of up to $750.0 million through a consortium of banks acting as sales agents. Sales of the shares of common stock may be made, as needed, from time to time, in “at the market” offerings as defined in Rule 415 of the Securities Act of 1933, as amended, including by means of ordinary brokers’ transactions on the New York Stock Exchange or otherwise (i) at market prices prevailing at the time of sale, (ii) at prices related to prevailing market prices or (iii) as otherwise agreed to with the applicable sales agent. In addition, the Company may from time to time enter into separate forward sale agreements with one or more banks. This program does not expire. The Company did not issue any shares under the ATM Program during the three months ended March 31, 2026. As of March 31, 2026, the Company had $750.0 million available under this ATM Program.
Current wording
During November 2025, the Company established an at-the-market continuous offering program (the “ATM Program”) pursuant to which the Company may offer and sell, from time-to-time, shares of its common stock, par value $0.01 per share, with an aggregate gross sales price of up to $750.0 million through a consortium of banks acting as sales agents. Sales of the shares of common stock may be made, as needed, from time to time, in “at the market” offerings as defined in Rule 415 of the Securities Act of 1933, as amended, including by means of ordinary brokers’ transactions on the New York Stock Exchange or otherwise (i) at market prices prevailing at the time of sale, (ii) at prices related to prevailing market prices or (iii) as otherwise agreed to with the applicable sales agent. In addition, the Company may from time to time enter into separate forward sale agreements with one or more banks. This program does not expire. The Company did not issue any shares under the ATM Program during the six months ended June 30, 2026. As of June 30, 2026, the Company had $750.0 million available under this ATM Program.
Previous wording
During November 2025, the Company established a common share repurchase program. Under this program, the Company may repurchase shares of its common stock, par value $0.01 per share, with an aggregate gross purchase price of up to $750.0 million. This program does not expire. During the three months ended March 31, 2026, the Company repurchased 23,103 shares of common stock for an aggregate purchase price of $0.5 million (weighted average price of $19.99 per share). As of March 31, 2026, the Company had $688.1 million available under this common share repurchase program.
Current wording
During November 2025, the Company established a common share repurchase program. Under this program, the Company may repurchase shares of its common stock, par value $0.01 per share, with an aggregate gross purchase price of up to $750.0 million. This program does not expire. During the six months ended June 30, 2026, the Company repurchased 23,103 shares of common stock for an aggregate purchase price of $0.5 million (weighted average price of $19.99 per share). As of June 30, 2026, the Company had $688.1 million available under this common share repurchase program.
Previous wording
In February 2026, the Company closed on a new $2.0 billion Credit Facility with a group of banks. The Credit Facility is scheduled to expire in March 2030 with two additional six-month options to extend the maturity date, at the Company’s discretion, to March 2031. The Credit Facility can be increased to $2.75 billion through an accordion feature. The Credit Facility is a green credit facility tied to sustainability metric targets, as described in the agreement. The Credit Facility accrues interest at a rate of Term SOFR, as defined in the terms of the Credit Facility, plus an applicable spread determined by the Company’s credit ratings. The interest rate can be further adjusted upward or downward based on the sustainability metric targets and the Company’s credit rating, as defined in the agreement. As of March 31, 2026, the interest rate on the Credit Facility is Term SOFR plus 63.5 basis points (4.37% as of March 31, 2026) after reductions for sustainability metrics achieved and the Company’s current credit rating. Pursuant to the terms of the Credit Facility, the
Current wording
In February 2026, the Company closed on a new $2.0 billion Credit Facility with a group of banks. The Credit Facility is scheduled to expire in March 2030 with two additional six-month options to extend the maturity date, at the Company’s discretion, to March 2031. The Credit Facility can be increased to $2.75 billion through an accordion feature. The Credit Facility is a green credit facility tied to sustainability metric targets, as described in the agreement. The Credit Facility accrues interest at a rate of Term SOFR, as defined in the terms of the Credit Facility, plus an applicable spread determined by the Company’s credit ratings. The interest rate can be further adjusted upward or downward based on the sustainability metric targets and the Company’s credit rating, as defined in the agreement. As of June 30, 2026, the interest rate on the Credit Facility is Term SOFR plus 63.5 basis points (4.27% as of June 30, 2026) after reductions for sustainability metrics achieved and the Company’s current credit rating. Pursuant to the terms of the Credit Facility, the Company is subject to certain covenants. As of June 30, 2026, the Credit Facility had no outstanding balance and no appropriations for letters of credit.
Previous wording
The Company has a $550.0 million unsecured term loan credit facility (the “Term Loan Credit Facility”) with a group of banks, which is scheduled to mature in January 2027 with two one-year options to extend to January 2029. The Term Loan Credit Facility, as amended, accrues interest at a rate of Adjusted Term SOFR plus an applicable spread determined by the Company’s credit rating, as described in the agreement. As of March 31, 2026, the interest rates on the Term Loan Credit Facility is Adjusted Term SOFR plus 75.0 basis points based on the Company’s current credit rating. As of March 31, 2026, the Company had six swap rate agreements with various lenders swapping the overall interest rate on the $550.0 million Term Loan Credit Facility to an all-in fixed rate of 4.46%.
Current wording
The Company has a $550.0 million unsecured term loan credit facility (the “Term Loan Credit Facility”) with a group of banks, which is scheduled to mature in January 2027 with two one-year options to extend to January 2029. The Term Loan Credit Facility, as amended, accrues interest at a rate of Adjusted Term SOFR plus an applicable spread determined by the Company’s credit rating, as described in the agreement. As of June 30, 2026, the interest rate on the Term Loan Credit Facility is Adjusted Term SOFR plus 75.0 basis points based on the Company’s current credit rating. As of June 30, 2026, the Company had six swap rate agreements with various lenders swapping the overall interest rate on the $550.0 million Term Loan Credit Facility to an all-in fixed rate of 4.46%.
Showing the first 40 of 52 pairs. Open the source sections for the rest.
Rearranged current paragraphs (4)
Current report — wording carried from elsewhere
$4.8 million for investments in and advances to real estate joint ventures and other investments.
Current report — wording carried from elsewhere
$46.2 million for investment in mortgage and other financing receivables related to new mortgage and other financing receivables;
Current report — wording carried from elsewhere
$6.6 million in financing origination costs; and
Current report — wording carried from elsewhere
Same property NOI increased by $20.1 million, or 2.6%, for the six months ended June 30, 2026, as compared to the corresponding period in 2025. This increase is primarily the result of (i) an increase of $18.6 million in minimum rent, primarily related to strong leasing activity and (ii) a decrease in credit losses of $2.6 million, partially offset by (iii) an increase in non-recoverable expenses of $1.9 million.
Rearranged previous paragraphs (4)
Previous report — wording carried elsewhere
Investing activities during the three months ended March 31, 2025 primarily consisted of:
Previous report — wording carried elsewhere
Financing activities during the three months ended March 31, 2025 primarily consisted of:
Previous report — wording carried elsewhere
Company’s common stock to be reserved for the issuance of stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards, dividend equivalents, stock payments, deferred stock awards and long-term incentive plan units. At March 31, 2026, the Company had 16.2 million shares of common stock available for issuance under the 2025 Plan.
Previous report — wording carried elsewhere
Company is subject to certain covenants. As of March 31, 2026, the Credit Facility had no outstanding balance and no appropriations for letters of credit.