Kimco Realty Hits Record 96.4% Occupancy, Raises Dividend 12%

Insider Monkey·18 Sep 2026·

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Earnings Corporate Action Consumer Staples Distribution & Retail

Summary · why it matters

Kimco Realty reported second quarter results on August 4 that pushed portfolio occupancy to an all time high of 96.4% and small shop occupancy to a record 92.9%, while raising its quarterly dividend by 12% to $0.28 per share a full quarter ahead of schedule and nudging up its full year outlook for funds from operations and net income. The grocery anchored shopping center owner signed new leases at a 40.4% cash rent spread, part of a blended 13.1% spread across 461 leases covering 2.5 million square feet, turning a 100 basis point year-over-year gain in leased occupancy into 3.5% growth in same-property net operating income. Kimco sold The Milton, a 253-unit multifamily building, for $142.3 million in its first-ever multifamily disposition, then raised roughly $127 million after quarter-end from four Costco-anchored properties, funding 1031 exchange purchases of Pompano Marketplace and Sunshine Plaza and closing the quarter with $2.7 billion in immediate liquidity. Net income per diluted share slipped to $0.22 from $0.23 a year earlier as net income fell to $145.8 million from $155.4 million, while notes payable climbed to $8.3 billion from $7.7 billion at the end of 2025 after Kimco issued $600 million of 3.50% exchangeable senior notes due 2031. Management raised its 2026 net income guidance to $1.00 to $1.03 per share and its FFO guidance to $1.83 to $1.84 per share.