Overview

• Kimco Realty Q3 FFO per share beats analyst expectations

• Company raises 2025 outlook, reflecting confidence in growth potential

• Kimco Realty increases cash dividend on common shares by 4%

Outlook

• Kimco raises 2025 net income outlook to $0.77-$0.79 per share

• Kimco raises 2025 FFO outlook to $1.75-$1.76 per share

• Company maintains same property NOI growth assumption at 3% or better

Result Drivers

• OCCUPANCY GROWTH - Kimco reported record leased-to-economic occupancy spread and new high in small shop occupancy, indicating strong demand

• STRATEGIC ACQUISITIONS - Acquisition of Tanasbourne Village and activation of The Chester project contributed to growth

• STRUCTURED INVESTMENTS - Investment in structured programs and redevelopment activities supported financial performance

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 15 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy"

• Wall Street's median 12-month price target for Kimco Realty Corp is $24.00, about 10.8% above its October 29 closing price of $21.40

• The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 30 three months ago

Press Release: ID:nGNX4Wkf1d

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)