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Dec 31, 2025
Kimco Q4 2025 Earnings Report
Kimco Realty® reported strong fourth quarter and full year 2025 results, with FFO growth, record occupancy, and strategic acquisitions.
Key Takeaways
Kimco Realty® announced robust fourth quarter and full year 2025 results, highlighted by a 4.8% growth in FFO per diluted share for Q4 2025 and a 6.7% increase for the full year. The company achieved an all-time high pro-rata portfolio occupancy of 96.4% and a record small shop occupancy of 92.7%, driven by strong leasing activity. Strategic acquisitions and share repurchases further underscored a disciplined capital allocation strategy.
FFO per diluted share grew by 4.8% in Q4 2025 to $0.44, and by 6.7% for the full year 2025.
Pro-rata portfolio occupancy reached an all-time high of 96.4%, with small shop occupancy hitting a new record of 92.7%.
The company acquired The Shoppes at 82nd Street for $74.0 million and repurchased 3.1 million shares of common stock in Q4 2025.
Net income available to common shareholders was $143.6 million, or $0.21 per diluted share, for Q4 2025.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Kimco Realty® provided an initial outlook for the full year 2026, projecting FFO per diluted share between $1.80 and $1.84, and same property NOI growth between 2.5% and 3.5%.
Positive Outlook
- Projected FFO per diluted share for 2026 is expected to be higher than 2025 actuals, ranging from $1.80 to $1.84.
- Same property NOI growth is anticipated to continue positively, between 2.5% and 3.5%.
- Lease termination income is projected to be between $7 million and $15 million.
- Consolidated G&A expense, net, is expected to decrease slightly, ranging from $128 million to $132 million.
- Consolidated mortgage and other financing income, net, is projected to be between $45 million and $55 million.
Challenges Ahead
- Credit loss as a percentage of total pro-rata rental revenues is projected to be between 75bps and 100bps, a slight increase from 2025.
- Non-cash GAAP revenues are expected to decrease, ranging from $45 million to $50 million compared to $62 million in 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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