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

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

Sunrise Energy Metals said the US Pentagon will provide a conditional $400 million loan commitment to develop Syerston, a proposed scandium mine in Fifield, NSW. The project targets Western supply of scandium used in defence and other sectors amid China’s export restrictions. Sunrise also said it has a deal with Lockheed Martin for 25% of output for five years.

President Trump said the US will invest $3 billion in critical minerals and battery projects to expand domestic supply chains for national security. He announced Defence Department Office of Strategic Capital conditional loans totaling $1.4B to Sila Nanotechnologies, $400M to Sunrise Energy Metals, and $150M to Niron Magnetics, plus $58M Export-Import Bank loans. The plan also includes $100M in mining-school grants and $80M for three schools.

The Information reported Nvidia plans to invest up to $3 billion in Lancium, a Blackstone-backed power and data center infrastructure developer tied to the Stargate AI initiative. Nvidia would initially put in $2 billion for a 20% stake, with up to $1 billion more contingent on performance thresholds. No company comment was provided.