Kimco Realty Corporation (KIM) and its operating partnership, Kimco Realty OP, LLC, have released their combined annual report on Form 10-K for the fiscal year ended December 31, 2025. The report highlights the company's financial performance and strategic developments. Kimco, a leading owner and operator of open-air, grocery-anchored shopping centers and mixed-use properties in the U.S., reported net income available to common shareholders of $554.4 million, or $0.82 per diluted share, compared to $375.7 million, or $0.55 per diluted share, in the previous year. Revenues from rental properties, net, increased to $2.12 billion from $2.02 billion in 2024, reflecting growth in leasing activity and acquisitions.
A key performance indicator, Funds From Operations (FFO) available to common shareholders, reached $1.19 billion, or $1.76 per diluted share, up from $1.11 billion, or $1.65 per diluted share, in 2024. Same property net operating income (NOI) also saw an increase of 3.0%, reaching $1.57 billion compared to $1.52 billion in the prior year. The company executed 1,557 new leases, renewals, and options, totaling approximately 10.8 million square feet in its consolidated operating portfolio. As of December 31, 2025, the consolidated operating portfolio occupancy stood at 96.6%, a slight increase from 96.4% at the end of 2024.
Strategic developments included the acquisition of two operating properties and two parcels for $209.3 million, as well as the acquisition of an operating property from a joint venture for $77.2 million. Kimco also disposed of four operating properties and six parcels for $109.3 million, resulting in gains of $62.7 million. On the capital front, the company issued $500 million of 5.30% unsecured notes maturing in February 2036 and repaid $740.5 million of unsecured notes with interest rates ranging from 3.30% to 3.85%. Additionally, Kimco repurchased 6.1 million shares of its common stock for $120.3 million and 58,342 Class N Preferred Stock depositary shares for $3.5 million.
As of December 31, 2025, Kimco maintained a strong liquidity position with $2.2 billion in immediate liquidity, including $212.8 million in cash, cash equivalents, and restricted cash. The company's consolidated debt had a weighted average interest rate of 4.00% and a weighted average maturity profile of 7.9 years. Looking ahead, Kimco aims to continue its strategy of increasing the value of its existing portfolio, generating higher cash flows, and maintaining a strong balance sheet. The company also plans to expand its portfolio in desirable demographic areas with successful retailers and increase the number of entitlements for residential use.
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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