Portfolio composition
Open-air shopping centers, including mixed-use assets, and other retail properties
Source evidence
“Our properties consist primarily of open-air shopping centers, including mixed-use assets, and other retail properties.”

KIM
Updated: 25/09/2026, 12:58:51
Kimco Realty Corporation (NYSE:KIM), headquartered in Jericho, N.Y., operates as a real estate investment trust (REIT). It stands as one of North America's preeminent publicly traded entities dedicated to the ownership and operation of open-air, grocery-anchored shopping centers and diverse mixed-use developments. With a substantial portfolio reported as of September 30, 2020, Kimco held interests in 400 properties across the U.S. These holdings collectively encompass 70 million square feet of gross leasable area, predominantly situated within America's top metropolitan markets. Having traded publicly on the New York Stock Exchange since 1991 and recognized as a constituent of the S&P 500 Index, the company boasts over six decades of expertise. This extensive experience spans the acquisition, development, and ongoing management of shopping centers.
No summaries found.
Reported and calculated KPIs plus operational exposure disclosed in the FY 2025 filing.
Revenue
N/A
FY — · Reported
Net income
0.6B
FY 2025 · Reported
Gross margin
N/A
FY — · Reported
Free cash flow
1.1B
FY 2025 · Calculated
R&D intensity
N/A
FY — · Reported
Share repurchases
0.1B
FY 2025 · Reported
Other offerings mentioned without separate sales
Area-level product sales are displayed only when the filing reports a product × geography breakdown. Regional totals are not allocated across products by estimation.
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Portfolio composition
Open-air shopping centers, including mixed-use assets, and other retail properties
“Our properties consist primarily of open-air shopping centers, including mixed-use assets, and other retail properties.”
Company business description
Leading owner and operator of open-air, grocery-anchored shopping centers and mixed-use properties in the US
“Kimco Realty Corporation is the leading owner and operator of high-quality open-air, grocery-anchored shopping centers and mixed-use properties in the United States.”
Company overview
Leading owner/operator of open-air grocery-anchored shopping centers and mixed-use properties in the U.S.; REIT, UPREIT since 2023
“The Company is the leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States.”
Kimco OP structure as VIE with Parent as primary beneficiary
Kimco OP is a VIE consolidated by the Parent Company as primary beneficiary under FASB ASC consolidation guidance
“As such, Kimco OP is considered a VIE, and the Parent Company, which consolidates it, is the primary beneficiary.”
Portfolio size at Dec 31, 2025
565 shopping centers, 100.2M sq ft GLA in 29 states; 66 other property interests totaling 5.4M sq ft GLA
“the Company had interests in 565 shopping center properties, aggregating 100.2 million square feet of GLA, located in 29 states. In addition, the Company had 66 other property interests”
Single reportable segment
Single reportable segment
“the Company believes it has a single reportable segment for disclosure purposes in accordance with GAAP.”
Institutional joint venture (investment real estate management) programs
Institutional JV programs earning management, acquisition, disposition fees and promoted interests
“The Company earns management fees, acquisition fees, disposition fees as well as promoted interests based on achieving certain performance metrics.”
Joint venture portfolio focused on open-air shopping centers and mixed-use properties
Equity-method JVs with institutional partners in open-air shopping center/mixed-use properties, typically non-recourse financed
“co-investments with institutional and other joint venture partners in open-air shopping center or mixed-use properties, consistent with its core business”
Anchor tenant types
Centers primarily anchored by grocery, home improvement, off-price, discounter and/or service tenants providing necessity-based goods
“primarily anchored by a grocery store, home improvement center, off-price retailer, discounter and/or service-oriented tenant”
Leasing and operating functions self-administered
Nearly all operating functions administered internally by the Company
“nearly all operating functions, including leasing, asset management, maintenance, construction, legal, finance and accounting, administered by the Company.”
Lifestyle Collection portfolio
Lifestyle Collection™ of upscale open-air properties
“The Company's focus on open-air shopping centers designed to deliver elevated retail experiences and drive superior tenant performance is demonstrated by the Company's Lifestyle CollectionTM.”
Other investment ventures
Preferred equity, financing/management services to retailers, and selective opportunistic investments
“the Company has also provided preferred equity capital to real estate professionals and, from time to time, provides real estate capital, retail real estate financing and management services to both healthy and distressed retailers”
Top metro market revenue share
82% of proportionate share of annualized base rental revenues from top major metro markets (Dec 31, 2025)
“the Company derived 82% of its proportionate share of annualized base rental revenues from these top major metro markets”
RPT Merger completed via all-stock conversion
RPT Merger: 0.6049 Kimco shares per RPT share; RPT Series D preferred exchanged into Class N Preferred; agreement dated 8/28/2023
“each RPT common share was converted into 0.6049 of a newly issued share of the Company’s common stock, together with cash in lieu of fractional shares”
RPT Realty merger
RPT Merger (Jan 2, 2024) added 56 shopping centers / 13.3M sq ft GLA and RPT's 6% stake in a 49-property net lease JV
“The RPT Merger added 56 open-air shopping centers, 43 of which were wholly-owned and 13 of which were owned through a joint venture, comprising 13.3 million square feet of gross leasable area”
2025 property acquisitions
Acquired properties for net real estate fair value of $286.5 million in 2025
“During 2025, the Company acquired properties for a net real estate fair value of $286.5 million”
Residential/mixed-use entitlements
Multi-family entitlements for 14,196 units; 3,505 units constructed as of Dec 31, 2025
“the Company has obtained multi-family entitlements for 14,196 units, of which 3,505 units have been constructed as of December 31, 2025”
E-commerce-resistant tenant mix
Focus on e-commerce-resistant tenants: groceries, essential retailers, restaurants and service providers
“We are focused on anchoring and diversifying our properties with tenants that are more resistant to competition from e-commerce (e.g., groceries, essential retailers, restaurants and service providers)”
Strategic pillars
Four strategic pillars; 91% of portfolio in Sun Belt and/or coastal markets; structured investment ('Plus') platform
“• Well positioned, grocery anchored portfolio in major Sun Belt and coastal markets, with 91% of the portfolio within the Sun Belt and/or coastal markets”
RPT Merger transaction expenses
$25.2M RPT Merger expenses in FY2024, primarily severance, legal and professional fees
“During the year ended December 31, 2024, the Company incurred expenses of $25.2 million associated with the RPT Merger, primarily comprised of severance, legal and professional fees.”
Credit ratings and debt maturity profile
Investment grade unsecured debt ratings A-/A-/A3; weighted average debt maturity 7.9 years
“investment grade unsecured debt ratings (A-/A-/A3) by three major ratings agencies. The Company maintains one of the longest weighted average debt maturity profiles in the REIT industry, now at 7.9 years”
Amended and Restated Kimco OP LLC Agreement creating Class N Preferred Units
1/2/2024 Amended and Restated Kimco OP LLC Agreement created Class N Preferred Units and modified LTIP Unit provisions
“providing for, among other things, the creation of Class N Preferred Units of Kimco OP, having the preferences, rights and limitations set forth therein”
Tenant credit and rent collection risk
Tenant defaults/bankruptcies could cut rental income; rejected leases leave general unsecured claims
“If a lease is rejected by a tenant in bankruptcy, we would have only a general unsecured claim for damages.”
Retail real estate market risks
Retail property risks include e-commerce, oversupply, tenant bankruptcies, rental rate changes, retail consolidation, obsolescence
“customers' use of e-commerce and online store sites;”
Economic uncertainty risks
Elevated inflation/interest rates, tenant bankruptcies, tariffs, geopolitical uncertainty and government shutdowns could hurt tenant demand and trigger impairments
“including elevated inflation and interest rates, tenant bankruptcies, tariffs or other trade restrictions, geopolitical uncertainties and government shutdowns”
Forward-looking risk factor set
Risks include e-commerce disruption, cybersecurity, AI, climate events, financing/refinancing, REIT/UPREIT status
“(v) the potential impact of e-commerce and other changes in consumer buying practices”
Macroeconomic and geopolitical exposure
Inflation, labor shortages, tariffs, supply chain constraints, weak consumer spending, elevated energy prices and interest rates
“including, but not limited to, inflation, labor shortages, including as a result of changes in immigration laws or their enforcement, tariffs or other trade restrictions, supply chain constraints”
Mixed-use development risk
Mixed-use developments include residential, office, hotel uses; less experience in non-retail development
“We operate, are currently developing, and may in the future develop, properties either alone or through joint ventures and preferred equity investments with other persons that are known as “mixed-use” developments.”
Leverage and financing access risk
Substantial indebtedness; capital markets access needed for acquisitions, refinancing and liquidity
“We have substantial indebtedness. The level of indebtedness could have adverse consequences on our business”
Climate change risk
Climate change may damage properties, raise energy/insurance costs, and require capex and disclosure compliance
“Transition impacts of climate change may subject us to increased regulations, reporting requirements (such as California's climate disclosure rules)”
Operating cost inflexibility
Costs are relatively inflexible and do not decrease when revenues decline; inflation raises operating costs
“Costs associated with our business, such as common area expenses, utilities, insurance, real estate taxes, mortgage payments, and corporate expenses are relatively inflexible”
Sustainability regulation and reputational risk
Adopted GHG emissions reduction targets; rising regulation and scrutiny create compliance and reputational risks
“we have adopted certain corporate responsibility goals, including GHG emissions reduction targets and other initiatives.”
Interest rate hedging risk
Interest rate swaps used to hedge variable rate exposure, with counterparty and effectiveness risks
“We generally enter into interest rate swaps to manage our exposure to variable interest rate risk.”
Pandemic risk
Pandemics could disrupt tenants' operations, supply chains and foot traffic to properties
“Pandemics or other health crises may adversely affect our tenants’ financial condition and the profitability of our properties.”
Revenue depends on tenants' financial condition, lease renewals and rent payment; bankruptcies and co-tenancy terminations reduce income.
“Our performance depends on our ability to collect rent from tenants, our tenants’ financial condition and our tenants maintaining leases for our properties.”
Core portfolio is grocery-anchored shopping centers; tenant base rent collections (including bankruptcy-sensitive receivables) drive rental income.
“leading owner and operator of high-quality open-air, grocery-anchored shopping centers”
Tenant rent payments depend on consumer confidence and discretionary spending at Kimco's retail properties.
“decreasing consumer confidence and discretionary spending”
Elevated interest rates and rate volatility are cited as adverse factors affecting the Company and demand for retail space.
“including elevated inflation and interest rates, tenant bankruptcies, tariffs or other trade restrictions”
Kimco's core business and its unconsolidated joint ventures are concentrated in open-air shopping center and mixed-use properties, tying revenue to that asset class.
“co-investments with institutional and other joint venture partners in open-air shopping center or mixed-use properties, consistent with its core business”
Tenant health (retail bankruptcies, cost pass-through of inflation/tariffs) directly drives demand for Kimco's leasable space.
“To the extent our tenants are unable to pass these costs on to their customers, our tenants’ operations could be adversely impacted, which could result in tenant bankruptcies”
E-commerce competition pressures tenants' space needs and rents; company responds by leasing to e-commerce-resistant tenants.
“Many of our tenants face strong competition from e-commerce and other sources that could cause them to reduce their size”
Maintaining REIT status under the Code (including UPREIT structure risks) is a disclosed ongoing requirement/exposure.
“the Company’s ability to continue to maintain its status as a REIT for U.S. federal income tax purposes and potential risks and uncertainties in connection with its UPREIT structure”
Elevated interest rates raise financing costs on substantial indebtedness; swaps used to manage variable rate exposure.
“elevated energy prices and interest rates”
Changing consumer buying practices, particularly e-commerce, are a disclosed risk to the retail shopping center business.
“the potential impact of e-commerce and other changes in consumer buying practices, and changing trends in the retail industry”
Inflation raises operating costs including property taxes from reassessment, and expenses are inflexible when revenues fall.
“In addition, elevated or increased inflation could result in higher operating costs.”
Company deliberately anchors properties with e-commerce-resistant tenants such as groceries and essential retailers.
“(e.g., groceries, essential retailers, restaurants and service providers)”
Tariffs/trade restrictions raise tenants' cost of goods, potentially weakening tenant demand for Kimco properties.
“could materially increase the cost of goods and services offered by the Company’s tenants, leading to lower profits”
Property and JV valuations rely on discount and capitalization rates, making reported values sensitive to rate levels.
“Capitalization rates and discount rates utilized in these models are based upon unobservable rates that the Company believes to be within a reasonable range of current market rates.”
Collectability of trade receivables depends on tenant credit worthiness, bankruptcies and current economic trends.
“the Company’s analysis of its accounts receivable included (i) customer credit worthiness, (ii) assessment of risk associated with the tenant, and (iii) current economic trends.”
Climate change may increase property damage, energy and insurance costs, and require energy-efficiency capex without revenue offset.
“could result in increased capital expenditures to improve the energy efficiency of our existing properties”
Geopolitical challenges/uncertainties listed among factors that could cause results to differ materially.
“tariffs or other trade restrictions, geopolitical uncertainties and government shutdowns”
RPT Merger added RPT's portfolio and generated $25.2 million of merger expenses plus Class N Preferred Stock issuance, integrating RPT assets into Kimco.
“each RPT common share was converted into 0.6049 of a newly issued share of the Company’s common stock”
Transition impacts of climate change may impose reporting requirements and compliance costs.
“reporting requirements (such as California’s climate disclosure rules)”
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