JERICHO, N.Y., Aug. 04, 2026 — Kimco Realty® (NYSE: KIM), a real estate investment trust and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States, today reported results for the second quarter ended June 30, 2026. Net income available to common shareholders per diluted share was $0.22, compared to $0.23 in the same period of 2025.

Second Quarter Highlights

• Delivered 4.5% growth in Funds From Operations (FFO) per diluted share to $0.46.
• Achieved pro-rata cash rent spreads of 40.4% on comparable new leases.
• Matched all-time high portfolio occupancy of 96.4% and reached a record small-shop occupancy level of 92.9%.
• Grew same-property net operating income (NOI) 3.5% year-over-year.
• Completed the sale of The Milton, a 253-unit multifamily building at Pentagon Centre, for $142.3 million.
• Issued $600.0 million in 3.50% exchangeable senior notes due 2031.
• Raised the quarterly cash dividend on common shares by 12.0% to $0.28 per share.

CEO Conor Flynn stated: "Our operating and financial performance reflect the strength of our platform and the team's disciplined execution throughout the quarter. 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. Together with our strategic capital allocation activities, we further enhanced our financial flexibility and strengthened our balance sheet. Given our strong cash flow growth this year from the strength of operations, we're raising our common cash dividend by 12%, a quarter ahead of our typical schedule, a reflection of both our higher operating income and confidence in Kimco's long-term outlook. We remain committed to executing our strategy and creating long-term value for our shareholders."

Financial Results

Net income for the second quarter of 2026 was $145.8 million, or $0.22 per diluted share, compared to $155.4 million, or $0.23 per diluted share, in the second quarter of 2025. The year-over-year change reflects $25.5 million growth in consolidated revenues from rental properties (net) and an $8.5 million increase in equity in income of joint ventures (net), offset by $37.6 million in lower gains on property sales.

FFO was $309.2 million, or $0.46 per diluted share, for the second quarter of 2026, compared to $297.6 million, or $0.44 per diluted share, in the prior-year quarter. Gains on sales of properties, net of impairments, are excluded from the company's FFO calculation. FFO is a supplemental performance metric widely used across the REIT industry because it adjusts net income for non-cash items such as real estate depreciation and gains or losses on property sales, providing a measure of operating cash flow generation.

Operating Results

During the second quarter, Kimco executed 461 leases totaling 2.5 million square feet, generating blended pro-rata cash rent spreads of 13.1% on comparable spaces. This included 40.4% on new leases, 6.1% on renewals, and 8.0% on options. Grocery-anchored, open-air shopping centers like those in Kimco's portfolio have proven among the more resilient segments of retail real estate, as they serve repeat, necessity-based consumer demand that is less susceptible to e-commerce displacement.

Pro-rata leased occupancy rose 10 basis points sequentially and 100 basis points year-over-year to 96.4%. Small-shop occupancy increased 40 basis points sequentially and 70 basis points year-over-year to a record 92.9%. Anchor occupancy climbed 110 basis points year-over-year to 97.8%.

Same-property NOI grew 3.5% year-over-year, driven by a 2.6% increase in minimum rents. Credit loss as a percentage of total pro-rata rental revenues was 57 basis points.

The spread between pro-rata leased and economic occupancy rates narrowed 10 basis points sequentially to 400 basis points, representing $75 million in future rents from signed leases that have not yet commenced.

Transactional Activities

Kimco sold The Milton, a 253-unit multifamily building at its Pentagon Centre mixed-use property in Pentagon City, Virginia, for $142.3 million — the company's first multifamily asset disposition. The cap rate was approximately 4.9%, and Kimco's pro-rata share of the sales price was $78.2 million.

The company also sold Shoppes at Bears Path, a 44,000-square-foot shopping center in Tucson, Arizona, for $7.8 million. Proceeds are intended for a future 1031 exchange.

Subsequent to quarter end:

• Completed the sale of four Costco-anchored assets — two entire shopping center properties and two ground lease parcels — for aggregate proceeds of approximately $127 million. This reflects Kimco's strategy of recycling capital from lower rent-growth assets into higher-yielding investments. Proceeds are intended for future 1031 exchange investments.

• Acquired two centers utilizing 1031 exchange proceeds:

  • Pompano Marketplace, a 239,000-square-foot Walmart-anchored center in Pompano Beach, Florida, for $53 million — the third acquisition completed through the company's Structured Investment Program. The associated $35 million mezzanine loan was repaid in full at closing.
  • Sunshine Plaza, a 247,000-square-foot Publix-anchored center in a first-ring suburb of Fort Lauderdale, Florida, for $56 million.

Through Kimco's Structured Investment Program, the company received $44 million in repayments (inclusive of the Pompano Marketplace repayment), partially offset by $19 million in new capital. The company continues to secure rights of first offer or refusal on the underlying shopping centers.

Capital Market Activities

Kimco issued $600.0 million in aggregate principal amount of 3.50% exchangeable senior notes due 2031. In connection with the offering, the company repurchased approximately 4.1 million shares of common stock for $104.7 million at $25.38 per share. Exchangeable notes typically offer a lower coupon than conventional senior unsecured debt, as the exchange feature provides additional value to noteholders; the concurrent share repurchase was structured to partially offset potential dilution from the exchange feature.

The company ended the quarter with $2.7 billion of immediate liquidity, including $700 million in cash, cash equivalents, and restricted cash, and full availability under its $2.0 billion unsecured revolving credit facility.

Subsequent to quarter end, Kimco repurchased 516,750 shares of its 7.25% Class N Convertible Preferred Stock for $33.3 million at $64.50 per share. The company incurred an approximately $3.8 million charge in conjunction with the repurchase, which will be recognized in both Net income available to common stockholders and FFO during the third quarter of 2026.

Dividend Declarations

The board of directors declared a cash dividend of $0.28 per common share (equivalent to $1.12 per annum), a 12.0% increase over the quarterly dividend in the corresponding period of the prior year. The dividend will be payable on September 17, 2026, to shareholders of record on September 4, 2026.

The board also declared quarterly dividends on each of the company's Class L, Class M, and Class N series of preferred shares, payable on October 15, 2026, to shareholders of record on October 1, 2026.

2026 Full Year Outlook

Kimco raised its 2026 outlook for Net income and FFO per diluted share. The company's full-year outlook assumptions (pro-rata share unless otherwise stated; dollars in millions) include the following notes:

• Figures include deferred rents, above- and below-market rents, and straight-line reimbursement income, and exclude debt mark-to-market amortization.
• Costs associated with the mixed-use development project The Chester at Westlake Shopping Center are included.
• Tenant improvements and allowances, capitalized external leasing commissions, and capitalized building improvements are included.

Year-to-date transactions updated to include material activity through July 31, 2026 would reflect approximately $109 million in acquisitions at a 5.7% weighted average cap rate; $261 million in dispositions at a 5.1% weighted average cap rate; and $8 million in structured investments, net of repayments, at a 9.6% weighted average yield.

Conference Call Information

• When: 8:30 AM ET, August 4, 2026
• Live Webcast: 2Q26 Kimco Realty Earnings Conference Call, available on investors.kimcorealty.com
• Dial #: 1-833-461-5787 (International: +1 585-542-9983). Meeting ID: 110761621

Audio from the conference will be available on Kimco Realty's investor relations website until November 4, 2026.

About Kimco Realty®

Kimco Realty® (NYSE: KIM) is a REIT and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States. The company's portfolio is strategically concentrated in the first-ring suburbs of top major metropolitan markets, including high-barrier-to-entry coastal markets and Sun Belt cities. Its tenant mix is focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value-enhancing redevelopment activities for more than 65 years. As of June 30, 2026, the company owned interests in 564 U.S. shopping centers and mixed-use assets comprising 100 million square feet of gross leasable space.

The company announces material information using its investor relations website, SEC filings, press releases, public conference calls, and webcasts. Kimco also uses social media to communicate with investors and the public, including Facebook and LinkedIn.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on certain assumptions and are generally identifiable by use of words such as "believe," "expect," "intend," "commit," "anticipate," "estimate," "project," "will," "target," "plan," "forecast," or similar expressions. These statements involve known and unknown risks, uncertainties, and other factors that could materially affect actual results.

Factors that may cause actual results to differ include, but are not limited to: financial disruption, changes in trade policies and tariffs, geopolitical challenges, or economic downturn; competition and the availability of acquisition or development opportunities; tenant bankruptcy, insolvency, or business downturns; multiple lease terminations or tenant failures to occupy premises; the impact of e-commerce and changing consumer buying practices; availability and costs of acquisition, disposition, development, and redevelopment opportunities; the Company's ability to raise capital through asset sales; inflation and supply chain disruptions; risks of mixed-use development and non-retail real estate ownership; changes in governmental laws and regulations, including data privacy, environmental, safety, and health laws; valuation risks related to joint venture and preferred equity investments; collectability of financing receivables; impairment charges; cybersecurity disruptions and data breaches; risks related to artificial intelligence; natural disasters and climate-related events; pandemics or health crises; the ability to attract and retain key personnel; financing and interest rate risks; changes in dividend policy; debt prepayment or maintenance decisions; REIT status maintenance; and other risks identified under Item 1A, "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other SEC filings.

The Company disclaims any obligation to update forward-looking statements. Certain corporate responsibility statements in this release may not be considered "material" under federal securities laws for SEC reporting purposes.

Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying the original press release.

Contact: David F. Bujnicki, Senior Vice President, Investor Relations and Strategy, Kimco Realty Corporation — (833) 800-4343 — dbujnicki@kimcorealty.com

Source: GlobeNewswire