At a glance
Kimco Realty Corporation is worth $16.66B. Revenue grew 5.1% to $2.14B in fiscal 2025, with 27.3% kept as profit; over 5 years it has grown 15.1% a year. It pays a 4.23% dividend yield, and returned $3.10B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +27.1% over the past year with dividends reinvested and +6.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 50.7% in the 2020 crash (S&P 500: 33.7%) and 30.2% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 11 months and 24 months after the lows.
The business in plain English
Kimco Realty is a real estate investment trust (REIT), a landlord that must pay out most of its taxable income as dividends. It owns and runs open-air shopping centers across the United States, typically anchored by a grocery store. Other anchors include home improvement centers, off-price retailers, discounters and service providers, all focused on everyday needs. As of December 31, 2025, Kimco had interests in 565 shopping centers with 100.2 million square feet of leasable space in 29 states. It also had 66 other property interests, mainly net-leased properties (the tenant pays most costs) and investments in other owners' real estate.
Kimco makes money mainly by leasing space to retailers. Its centers are concentrated in close-in suburbs of 19 large Sun Belt and coastal metro areas. Those areas supplied 82% of its share of annualized base rent as of December 31, 2025. It also collects management, acquisition and disposition fees, plus performance-based payouts, from joint ventures it manages with institutional investors. Total revenue was $2.14 billion in fiscal 2025.
Kimco grows mainly by acquiring and redeveloping existing centers. Its January 2024 merger with RPT Realty added 56 shopping centers. It is also adding apartments to some sites. As of December 31, 2025, it held approvals to build 14,196 apartment units, and 3,505 of them were complete.
Price history
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KIM +27.1% over the year to Nov 2, 2026, total return with dividends reinvested.
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $546.1M, up 1.9% from a year earlier, and net income was $279.1M (+102.6%).
- For fiscal 2025, revenue was $2.14B (+5.1% year over year; +15.1% a year from FY2020 to FY2025) with a 27.3% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +15.1% good |
|---|---|
| Operating margin | 36% good |
| Free cash flow margin | 51.5% good |
| Return on equity (FY2025) | 5.6% weak |
| Return on assets (FY2025) | 3% watch |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $1.06B | $1.00B | — |
| FY2021 | $1.36B | $844.1M | — |
| FY2022 | $1.73B | $126.0M | — |
| FY2023 | $1.78B | $654.3M | — |
| FY2024 | $2.04B | $410.8M | — |
| FY2025 | $2.14B | $584.7M | $1.10B |
Valuation snapshot
| Market value | $16.66B |
|---|---|
| P/E ratio | — |
| Dividend yield | 4.23% |
Rank among 1514 US companies
Market value at each year end
Kimco Realty’s market value went from $10.69B at the end of 2016 to $16.66B on Nov 2, 2026, up 56%; since the end of 2025 it is up 21%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $16.66B | +21.4% |
| 2025 | $13.73B | -13.1% |
| 2024 | $15.79B | +19.6% |
| 2023 | $13.21B | +0.8% |
| 2022 | $13.10B | -13.8% |
| 2021 | $15.19B | +134.1% |
| 2020 | $6.49B | -25.8% |
| 2019 | $8.74B | +41.6% |
| 2018 | $6.17B | -20.1% |
| 2017 | $7.73B | -27.8% |
| 2016 | $10.69B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| KIM price data to Nov 2, 2026 | +27.9% | +27.1% | +16.0% | +6.0% | +5.0% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +27.9% |
| 2025 | -9.3% |
| 2024 | +15.0% |
| 2023 | +6.0% |
| 2022 | -10.8% |
| 2021 | +69.5% |
| 2020 | -23.6% |
| 2019 | +49.8% |
| 2018 | -13.2% |
| 2017 | -23.7% |
| 2016 | -1.3% |
| 2015 | +9.4% |
| 2014 | +32.5% |
| 2013 | +6.5% |
| 2012 | +23.9% |
| 2011 | -5.9% |
| 2010 | +39.0% |
| 2009 | -19.9% |
| 2008 | -46.8% |
| 2007 | -16.0% |
| 2006 | +44.9% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 82.9% over that stretch · deepest drop along the way 83.9%, back to its old high 87.8 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 49.3% over that stretch · deepest drop along the way 50.7%, back to its old high 11 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 21.1% over that stretch · deepest drop along the way 30.2%, back to its old high 23.5 months after the low |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (18 read): 0 open-market purchases and 1 sales ($199K).
| Date | Insider | Type | Value |
|---|---|---|---|
| Feb 17, 2026 | Frank Lourenso Director | sell | $199K |
Who owns it
Large shareholders (13G filings)
| Vanguard Portfolio Management | 8.56% | Mar 31, 2026 |
| Cohen & Steers, Inc. | 7.93% | Mar 31, 2026 |
| Vanguard Capital Management | 7.52% | Mar 31, 2026 |
| COHEN & STEERS, INC. | 6.38% | Jun 30, 2025 |
ETFs with the most weight in KIM
| FPRO Fidelity Real Estate Investment ETF | 4.31% |
| RSPR Invesco S&P 500 Equal Weight Real Estate ETF | 3.24% |
| DEMZ Democratic Large Cap Core ETF | 2.75% |
| DESK VanEck Office and Commercial REIT ETF | 2.04% |
| GQRE FlexShares Global Quality Real Estate Index Fund | 2.02% |
| ICF iShares Cohen & Steers REIT ETF | 1.71% |
| LQAI LG QRAFT AI-Powered U.S. Large Cap Core ETF | 1.66% |
| VGSR Vert Global Sustainable Real Estate ETF | 1.56% |
What could go wrong
- Struggling retailers can hurt whole centers. If a large tenant with stores in many Kimco centers goes bankrupt or closes shops, that rent can stop. Some leases also let remaining tenants cut rent or leave when several neighbors close.
- Online shopping keeps changing what retailers need. E-commerce pulls sales from physical stores and changes how much space retailers want. Kimco may need to redesign centers, shift its tenant mix and adapt lease terms to stay competitive, which can be costly.
- Building projects can cost more than planned. Kimco is adding apartments and mixed-use space to its centers. Construction delays, supply-chain disruptions and unexpected expenses can raise costs, hold up space promised to tenants and shrink a project's expected value.
- Joint ventures and loans add extra risk. Kimco lacks full control over joint ventures and investments in other owners' properties, so partners may pursue different goals. Loans and other financing it provides may not be repaid, which could cause significant losses.
- Substantial debt and interest rate exposure. Kimco had about $8.5 billion of debt as of September 30, 2026. Higher interest rates can raise refinancing costs, and loan covenants (conditions set by lenders) can restrict its operations and acquisitions.
- Dividend policy and tax status can change. Kimco says it may change its dividend policy. REIT dividends generally miss the lower tax rates many other dividends get. Losing REIT status would mean paying corporate income tax, leaving less cash for shareholders.
Recent events
- Quarterly results released
- Quarterly results released
- Major agreement signed; New debt or financial obligation; Unregistered sale of shares
- Other company announcement
- Shareholder vote results
- Quarterly results released
- Quarterly results released
- Executive or board change
- Executive or board change; Investor presentation or announcement
- Major agreement signed; Other company announcement
For income and retirement investors
Kimco's dividend yield was 4.34% as of October 29, 2026. Dividends per share rose from $0.54 in fiscal 2020 to $1.01 in fiscal 2025, about 13.3% a year. They dipped from $1.02 in 2023 to $0.97 in 2024, so the streak of annual increases was one year through fiscal 2025. In 2025, dividends were 121.7% of net income, which non-cash depreciation charges reduce. They were 64.6% of free cash flow (cash from operations minus capital spending). Kimco repurchased $120 million of stock in 2025, its only repurchases in fiscal 2021–2025. Even so, the share count rose 7.8% between October 2021 and October 2026.
The stock has fallen hard in downturns. It dropped about 84% in the 2008 financial crisis and did not recover until June 2016. It fell about 51% in the 2020 COVID crash and recovered in 11 months. It lost about 30% in the 2022 bear market and recovered by September 2024. A single stock like Kimco carries more risk than a diversified fund.
Questions investors ask
How does Kimco Realty make money?
Mainly by renting space in its shopping centers to retailers. As of December 31, 2025, Kimco had interests in 565 open-air centers in 29 states. They are typically anchored by a grocery store, home improvement center, off-price retailer or discounter. It also earns management, acquisition and disposition fees from joint ventures it manages with institutional investors. Revenue was $2.14 billion and net income was $584.7 million in fiscal 2025. In the quarter ended September 30, 2026, revenue rose 1.9% from a year earlier to $546 million.
Does Kimco Realty raise its dividend every year?
No. Dividends per share climbed from $0.54 in fiscal 2020 to $1.02 in fiscal 2023. They fell to $0.97 in 2024 and rose to $1.01 in 2025, a one-year streak of increases through fiscal 2025. From fiscal 2020 to 2025, the dividend grew about 13.3% a year. The yield was 4.34% as of October 29, 2026. Kimco's own filings warn that it may change its dividend policy in the future.
Is Kimco Realty a REIT, and how are its dividends taxed?
Yes. Kimco has elected REIT tax treatment since 1992. To keep that status, it must pay out at least 90% of its REIT taxable income each year, and it generally avoids federal income tax on what it distributes. For shareholders, REIT dividends usually don't qualify for the lower tax rates that apply to many other dividends. For that reason, some investors hold REITs in tax-advantaged accounts such as IRAs.
How much debt does Kimco Realty have?
About $8.5 billion. As of September 30, 2026, Kimco reported total debt of $8.47 billion, total assets of $19.7 billion and shareholders' equity of $10.2 billion. Its annual report for fiscal 2025 cited investment-grade ratings (a sign of lower default risk) of A-/A-/A3 on its unsecured debt. It also cited a weighted average debt maturity of 7.9 years, so repayments are spread over many years. Higher interest rates could still raise borrowing costs when debt is refinanced.
How has Kimco Realty stock performed over the long run?
Unevenly. Based on price returns to October 29, 2026, the stock gained 19.5% over one year, about 6.2% a year over five years and about 4.3% a year over ten years. Results swing widely from one calendar year to the next. It gained 69.5% in 2021, lost 23.6% in 2020 and lost 9.3% in 2025. It was up 24.6% year to date as of October 29, 2026. Its steepest peak-to-trough fall over the 21 years to that date was 85.7%.