KIMCO REALTY CORP
For the period ended Sep 30, 2026. Filed Oct 29, 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.
Sep 30, 2026 · Filed Oct 29, 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 2026-06-30; filed 2026-08-04.
0001193125-26-331817
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-10-29.
0001193125-26-437341
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 163 previous paragraphs and 173 current paragraphs.
84 unchanged; 66 reworded; 19 added; 11 removed; 2 previous and 4 current paragraphs rearranged.
Tables are not compared: 8 previous and 10 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 (19)
Current report
Other income/(expense), net –
Current report
Equity in income/(loss) of other investments, net –
Current report
The increase in Equity in income/(loss) of other investments, net of $3.9 million for the nine months ended September 30, 2026, as compared to the corresponding period in 2025, is primarily due to an increase in profit participation of $6.8 million from the sale of a property within the Company’s Preferred Equity Program during 2026, partially offset by mark-to-market fluctuations of certain investments.
Current report
Net cash flow provided by investing activities was $0.5 million for the nine months ended September 30, 2026, as compared to net cash flow used for investing activities of $491.3 million for the comparable period in 2025.
Current report
Investing activities during the nine months ended September 30, 2026 primarily consisted of:
Current report
$156.4 million in proceeds from sale of three operating properties and nine land parcels.
Current report
Investing activities during the nine months ended September 30, 2025 primarily consisted of:
Current report
$144.4 million for acquisition/consolidation of two operating properties;
Current report
Financing activities during the nine months ended September 30, 2026 primarily consisted of:
Current report
$13.8 million in proceeds from issuance of common stock, net.
Current report
$560.1 million of dividends paid;
Current report
$73.9 million for repurchase of preferred stock;
Current report
Financing activities during the nine months ended September 30, 2025 primarily consisted of:
Current report
$40.0 million in proceeds from the Credit Facility, net.
Current report
$531.1 million of dividends paid;
Current report
During the nine months ended September 30, 2026, the Company repurchased the following preferred stock:
Current report
In connection with the repurchase of 516,750 Class N depositary shares, the Company issued 549,250 common shares for net proceeds of $13.8 million. All of the 753,707 Class N depositary shares repurchased in the table above and the 549,250 common shares issued were separately authorized by the Company’s Board of Directors and not part of the Company’s publicly announced programs or previous authorizations.
Current report
During the nine months ended September 30, 2026, the Company fully repaid the following notes payable (dollars in millions):
Current report
During October 2026, the Company repaid $500.0 million in senior unsecured notes, which matured in October 2026 and bore interest at a rate of 2.80% per annum.
Removed paragraphs (11)
Previous report
Other (expense)/income, net –
Previous 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.
Previous report
Investing activities during the six months ended June 30, 2026 primarily consisted of:
Previous report
Investing activities during the six months ended June 30, 2025 primarily consisted of:
Previous report
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 report
Financing activities during the six months ended June 30, 2026 primarily consisted of:
Previous report
$600.0 million in proceeds from exchangeable senior notes; and
Previous report
$365.8 million of dividends paid;
Previous report
Financing activities during the six months ended June 30, 2025 primarily consisted of:
Previous report
$354.3 million of dividends paid;
Previous report
$5.3 million in redemption/distribution of noncontrolling interests.
Reworded paragraphs (66)
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 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.
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 September 30, 2026, the Company had interests in 561 U.S. shopping center properties, aggregating 99.1 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 and six months ended June 30, 2026 and 2025
Current wording
Comparison of the three and nine months ended September 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 and six months ended June 30, 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 nine months ended September 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 $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.
Current wording
Net income available to the Company’s common shareholders was $272.5 million for the three months ended September 30, 2026, as compared to $130.2 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 September 30, 2026 was $0.41, as compared to $0.19 for the three months ended September 30, 2025.
Previous wording
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 wording
Net income available to the Company’s common shareholders was $575.6 million for the nine months ended September 30, 2026, as compared to $410.8 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 nine months ended September 30, 2026 was $0.85 as compared to $0.60 for the comparable period in 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 and six months ended June 30, 2026, as compared to the corresponding periods 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 nine months ended September 30, 2026, as compared to the corresponding periods in 2025.
Previous 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.
Current wording
The increase in Revenues from rental properties, net of $8.6 million for the three months ended September 30, 2026, as compared to the corresponding period in 2025, is primarily from (i) a net increase in revenues from tenants of $7.4 million, primarily due to an increase in leasing activity and net growth in the current portfolio, (ii) an increase in revenues of $3.7 million due to properties acquired during 2026 and 2025, (iii) an increase in lease termination fee income of $2.8 million and (iv) a net increase of $1.4 million due to changes in credit losses from tenants, partially offset by (v) a decrease in amortization of above-market and below-market leases of $4.8 million primarily from vacated tenants and (vi) a decrease in revenues of $1.9 million due to dispositions during 2026 and 2025.
Previous wording
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 wording
The increase in Revenues from rental properties, net of $55.6 million for the nine months ended September 30, 2026, as compared to the corresponding period in 2025, is primarily from (i) a net increase in revenues from tenants of $42.6 million, primarily due to an increase in leasing activity and net growth in the current portfolio, (ii) an increase in revenues of $9.8 million due to properties acquired during 2026 and 2025, (iii) a net increase of $3.0 million due to changes in credit losses from tenants, (iv) an increase in amortization of above-market and below-market leases of $2.7 million primarily from vacated tenants and (v) an increase in net straight-line rental income of $2.6 million, partially offset by (vi) a decrease in revenues of $5.1 million due to dispositions during 2026 and 2025.
Previous wording
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 wording
The increase in Real estate taxes of $8.2 million for the nine months ended September 30, 2026, as compared to the corresponding period in 2025, is primarily due to (i) an overall increase in assessed values in the current portfolio, (ii) an increase of $1.1 million due to properties acquired during 2026 and 2025 and (iii) timing of real estate tax refunds.
Previous wording
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 wording
The increase in Operating and maintenance expense of $6.7 million for the nine months ended September 30, 2026, as compared to the corresponding period in 2025, is primarily due to (i) an increase in snow removal costs of $4.6 million, (ii) an overall increase in utility expenses of $3.9 million and (iii) an overall increase in operating costs of $2.0 million, partially offset by (iv) a decrease in repairs and maintenance expense of $2.3 million and (v) lower insurance expense of $1.5 million.
Previous wording
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 wording
During the nine months ended September 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. Additionally, during the nine months ended September 30, 2026 and 2025, the Company recognized impairment charges related to adjustments to property carrying values of $9.1 million and $8.6 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.
Previous wording
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 wording
The decrease in Depreciation and amortization of $11.6 million for the nine months ended September 30, 2026, as compared to the corresponding period in 2025, is primarily due to (i) a net decrease of $28.9 million due to fully depreciated assets and write-offs, primarily from demolition and vacated tenants and (ii) a decrease of $12.5 million due to dispositions during 2026 and 2025, partially offset by (iii) an increase of $24.5 million due to depreciation commencing on certain redevelopment projects and tenant improvement projects that were placed into service during 2026 and 2025 and (iv) an increase of $5.3 million resulting from properties acquired during 2026 and 2025.
Previous 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.
Current wording
During the nine months ended September 30, 2026, the Company disposed of three operating properties and nine parcels, in separate transactions, for an aggregate sales price of $188.8 million, which resulted in aggregate gains of $106.5 million. During the nine months ended September 30, 2025, the Company disposed of two operating properties and three land parcels, in separate transactions, for an aggregate sales price of $71.6 million, which resulted in an aggregate gain of $43.5 million.
Previous wording
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 wording
The change in Other income/(expense), net of $5.5 million for the three months ended September 30, 2026, as compared to the corresponding period in 2025, is primarily due to (i) an increase in interest income of $4.1 million resulting from higher cash balances during 2026 as compared to 2025 and (ii) $1.1 million in lower costs associated with potential transactions for which the Company is no longer pursuing.
Previous wording
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 wording
The increases in Interest expense of $3.5 million and $8.9 million for the three and nine months ended September 30, 2026, respectively, as compared to the corresponding periods in 2025, are 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.
Previous wording
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 wording
The increase in Equity in income of joint ventures, net of $46.9 million for the three months ended September 30, 2026, as compared to the corresponding period in 2025, is primarily due to (i) higher gains of $44.7 million recognized on sale of properties within various joint venture investments during 2026 compared to 2025 and (ii) higher equity in income of $2.7 million primarily due to lower depreciation and amortization expense, partially offset by (iii) impairment charges of $0.5 million during 2026.
Previous wording
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 wording
The increase in Equity in income of joint ventures, net of $57.5 million for the nine months ended September 30, 2026, as compared to the corresponding period in 2025, is primarily due to (i) higher gains of $53.9 million recognized on sale of operating properties within various joint venture investments during 2026 compared to 2025 and (ii) higher equity in income of $4.1 million primarily due to lower depreciation and amortization expense, partially offset by (iii) impairment charges of $0.5 million during 2026.
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 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.
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 September 30, 2026, the Company had interests in 561 U.S. shopping center properties, aggregating 99.1 million square feet of GLA, located in 29 states. At September 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 3.8%, 2.0%, 1.9%, 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.
Previous 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:
Current wording
Net cash flow provided by operating activities for the nine months ended September 30, 2026 was $977.8 million, as compared to $861.6 million for the comparable period in 2025. The increase of $116.2 million is primarily attributable to:
Previous wording
additional operating cash flow generated by operating properties acquired during 2025;
Current wording
additional operating cash flow generated by operating properties acquired during 2026 and 2025;
Previous wording
$15.4 million in distributions from real estate joint ventures and other investments in excess of equity in earnings.
Current wording
$203.9 million in distributions from real estate joint ventures and other investments in excess of equity in earnings primarily due to proceeds from the sale of operating properties and mortgage loan financings;
Previous wording
$50.1 million from the collection of mortgage and other financing receivables; and
Current wording
$164.6 million from the collection of mortgage and other financing receivables; and
Previous wording
$173.6 million for improvements to operating real estate, primarily related to re-tenanting, tenant improvements and redevelopment projects;
Current wording
$273.9 million for improvements to operating real estate, primarily related to re-tenanting, tenant improvements and redevelopment projects;
Previous wording
$46.2 million for investment in mortgage and other financing receivables related to new mortgage and other financing receivables;
Current wording
$122.1 million for investment in mortgage and other financing receivables related to new mortgage and other financing receivables;
Previous wording
$106.2 million for acquisition of an operating property;
Current wording
$115.5 million for acquisition of two operating properties and a leasehold interest; and
Previous wording
$4.8 million for investments in and advances to real estate joint ventures and other investments.
Current wording
$12.3 million for investments in and advances to real estate joint ventures and other investments.
Previous wording
$50.0 million from the collection of mortgage and other financing receivables;
Current wording
$71.8 million from the collection of mortgage and other financing receivables;
Previous wording
$43.9 million in proceeds from sale of an operating property and three land parcels; and
Current wording
$58.2 million in proceeds from sale of two operating properties and three land parcels; and
Previous wording
$39.2 million in distributions from real estate joint ventures and other investments in excess of equity in earnings.
Current wording
$19.8 million in distributions from real estate joint ventures and other investments in excess of equity in earnings.
Previous wording
$80.7 million for investment in mortgage and other financing receivables related to new mortgage and other financing receivables; and
Current wording
$252.0 million for investment in mortgage and other financing receivables related to new mortgage and other financing receivables;
Previous wording
$138.2 million for improvements to operating real estate, primarily related to re-tenanting, tenant improvements and redevelopment projects;
Current wording
$232.0 million for improvements to operating real estate, primarily related to re-tenanting, tenant improvements and redevelopment projects;
Previous 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
Current wording
$8.4 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
$5.4 million for investment in preferred stock and cost method investments.
Current wording
$5.9 million for investment in preferred stock and cost method investments.
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 six months ended June 30, 2025, the Company expended $106.2 million for the acquisition of operating real estate properties.
Current wording
The Company anticipates spending up to approximately $150.0 million to $300.0 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 nine months ended September 30, 2026 and 2025, the Company expended $115.5 million and $144.4 million for the acquisition of operating real estate properties, respectively.
Previous 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):
Current wording
During the nine months ended September 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 $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.
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 $75.0 million to $100.0 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 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.
Current wording
Net cash flow used for financing activities was $646.2 million for the nine months ended September 30, 2026, as compared to $899.6 million for the comparable period in 2025.
Previous wording
$17.4 million in proceeds from mortgage loan financing.
Current wording
$17.4 million in proceeds from mortgage loan financing; and
Previous wording
$105.2 million for repurchase of common stock;
Current wording
$255.2 million for repurchase of common stock;
Previous 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;
Current wording
$55.9 million in principal payments on debt (related to the repayment of debt on two encumbered properties), including normal amortization on rental property debt;
Showing the first 40 of 66 pairs. Open the source sections for the rest.
Rearranged current paragraphs (4)
Current report — wording carried from elsewhere
$600.0 million in proceeds from issuance of exchangeable senior notes;
Current report — wording carried from elsewhere
$266.0 million for repayments of unsecured notes;
Current report — wording carried from elsewhere
$7.5 million for distribution and redemption of noncontrolling interests.
Current report — wording carried from elsewhere
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
Rearranged previous paragraphs (2)
Previous report — wording carried elsewhere
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 report — wording carried elsewhere
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.