Kimco Realty Corporation reported a notable increase in financial performance for the first quarter of 2026, with total revenues reaching $558.0 million, up from $536.6 million in the same period of 2025. This growth was primarily driven by a $21.5 million increase in revenues from rental properties, which amounted to $552.8 million, reflecting heightened leasing activity and net growth in the current portfolio. The company also recorded a net income of $166.3 million, compared to $134.5 million in the prior year, translating to a diluted earnings per share of $0.23, an increase from $0.18.
In terms of operational metrics, Kimco Realty's total assets decreased slightly to $19.6 billion as of March 31, 2026, from $19.7 billion at the end of 2025. The company’s liabilities also saw a reduction, totaling $9.0 billion, down from $9.1 billion. The equity attributable to common shareholders remained stable at approximately $10.4 billion. The company’s cash and cash equivalents decreased to $169.6 million from $212.8 million, reflecting cash flow dynamics influenced by operational activities and investments.
Strategically, Kimco Realty did not engage in any property acquisitions during the first quarter of 2026, contrasting with the previous year when it acquired several properties. However, the company successfully disposed of three parcels for a total sales price of $47.2 million, resulting in a gain of $15.7 million. The company continues to focus on enhancing its portfolio through redevelopment and tenant improvements, with $63.4 million spent on property enhancements during the quarter.
The company’s operational indicators reflect a strong leasing environment, with 469 leases executed totaling 3.9 million square feet. The average rent for new leases was reported at $29.87 per square foot, while renewals averaged $19.06 per square foot. As of March 31, 2026, Kimco Realty owned interests in 565 shopping center properties across 29 states, with a total gross leasable area of 99.6 million square feet.
Looking ahead, Kimco Realty remains optimistic about its growth trajectory, planning to allocate between $300 million to $500 million for potential acquisitions and redevelopment projects throughout 2026. The company is also focused on maintaining its strong financial metrics and ensuring compliance with its debt covenants, which it currently meets comfortably. The ongoing economic conditions, including inflation and interest rates, will be closely monitored as they may impact future performance and operational strategies.
About KIMCO REALTY CORP
Kimco Realty is a leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties across the U.S. The company focuses on retail, residential, and mixed-use developments in major metropolitan markets, emphasizing community-centric destinations. It leverages strategic acquisitions, redevelopment, and strong tenant relationships, supported by a solid balance sheet and sustainability initiatives, to deliver long-term value and growth in the retail real estate sector.
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