Kimco Realty (NYSE:KIM) Upgraded to “Hold” at Jefferies Financial Group

Kimco (KIM) reported Q2 2026 FFO per diluted share of $0.46, up 4.5% year over year. Same-property NOI grew 3.5% and occupancy was 96.4%. The company raised full-year FFO guidance to $1.83 to $1.84 per share and same-property NOI guidance to 3.0% to 3.5%, issued $600m exchangeable notes, and declared a $0.28 dividend.

Kimco Realty (NYSE:KIM) reported Q2 FFO of $309.2 million versus $297.6 million a year earlier, with credit loss of 57 bps. The company raised 2026 FFO guidance to $1.83-$1.84 per diluted share, lifted same-property NOI growth to 3%-3.5%, and declared a $0.28 quarterly dividend. Kimco also issued $600 million 3.5% exchangeable notes due 2031 and bought two grocery-anchored centers for $109 million.

Kimco Realty reported record occupancy (92.9% small shop, 96.4% portfolio) and said it launched its “One Kimco” operating model. It raised full-year FFO guidance midpoint and increased the common dividend 12%. The company issued $600m 3.5% exchangeable notes, reported $2.7b liquidity, and projected $33m cash rent from the SNO pipeline in 2026.

Kimco Realty OP, LLC priced an upsized $525 million private placement of 3.50% exchangeable senior notes due June 15, 2031, up from $500 million, with a 13-day option for up to an additional $75 million. Notes mature in 2031 and pay semiannual interest starting Dec. 15, 2026; Kimco guarantees. Initial exchange: 30.9028 shares per $1,000, about a 27.5% premium. Net proceeds: $513.5 million ($587.0 million if option exercised). Kimco plans to use about $104.7 million to repurchase 4.13 million sha

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