Kimco Realty (KIM)
Market Price (10/20/2026): $22.68 | Market Cap: $15.2 BilInvestor Relations Sector: Real Estate | Industry: Retail REITs
Kimco Realty (KIM)
Market Price (10/20/2026): $22.68Market Cap: $15.2 BilSector: Real EstateIndustry: Retail REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.8%, Dividend Yield is 4.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.7%, FCF Yield is 7.7% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 54%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 54% Low stock price volatilityVol 12M is 18% Megatrend and thematic driversMegatrends include Sustainable & Green Buildings, Experience Economy & Premiumization, and E-commerce & DTC Adoption. Themes include ESG REITs, Show more. | Weak multi-year price returns2Y Excs Rtn is -25%, 3Y Excs Rtn is -24% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 54% Key risksKIM key risks include [1] a significant reduction in rental income from tenant defaults and lease terminations, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.8%, Dividend Yield is 4.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.7%, FCF Yield is 7.7% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 54%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 54% |
| Low stock price volatilityVol 12M is 18% |
| Megatrend and thematic driversMegatrends include Sustainable & Green Buildings, Experience Economy & Premiumization, and E-commerce & DTC Adoption. Themes include ESG REITs, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -25%, 3Y Excs Rtn is -24% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 54% |
| Key risksKIM key risks include [1] a significant reduction in rental income from tenant defaults and lease terminations, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Kimco Realty (KIM) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. Rising interest rates and Treasury yields pressured the broader Real Estate Investment Trust (REIT) sector. Public equity REITs, including Kimco Realty, experienced a significant reversal in fiscal Q3 2026 (July 1, 2026, to September 30, 2026), with total returns falling 6.06%, while the S&P 500 saw a 2.03% total return in the same quarter. This decline was largely driven by rising yields on Treasury bonds and climbing mortgage rates, which spooked investors concerned about increased debt refinancing costs and higher capitalization rates across the real estate sector.
2. Kimco Realty's stock experienced a significant drop following its fiscal Q2 2026 earnings announcement. After reporting its Q2 2026 earnings on August 4, 2026, Kimco's stock price declined by 1.6% the following day to close at $24.72. Subsequently, the stock drifted 9.7% lower over the next 50 days. While the company reported an EPS of $0.46, which met analyst expectations, and a 4.9% year-over-year revenue increase to $550.80 million, this performance was not enough to counteract prevailing market sentiment or potentially higher underlying investor expectations, leading to a sustained negative reaction in the stock price.
Show more
Kimco Realty (KIM) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. Rising interest rates and Treasury yields pressured the broader Real Estate Investment Trust (REIT) sector. Public equity REITs, including Kimco Realty, experienced a significant reversal in fiscal Q3 2026 (July 1, 2026, to September 30, 2026), with total returns falling 6.06%, while the S&P 500 saw a 2.03% total return in the same quarter. This decline was largely driven by rising yields on Treasury bonds and climbing mortgage rates, which spooked investors concerned about increased debt refinancing costs and higher capitalization rates across the real estate sector.
2. Kimco Realty's stock experienced a significant drop following its fiscal Q2 2026 earnings announcement. After reporting its Q2 2026 earnings on August 4, 2026, Kimco's stock price declined by 1.6% the following day to close at $24.72. Subsequently, the stock drifted 9.7% lower over the next 50 days. While the company reported an EPS of $0.46, which met analyst expectations, and a 4.9% year-over-year revenue increase to $550.80 million, this performance was not enough to counteract prevailing market sentiment or potentially higher underlying investor expectations, leading to a sustained negative reaction in the stock price.
3. General retail sector headwinds and concerns about consumer spending created a cautious environment for retail REITs. The broader retail real estate market faces challenges such as the impact of e-commerce, which necessitates costly adaptations for REITs, and anticipated slower growth coupled with rising vacancy rates due to the lingering effects of inflation and increased consumer debt. Although Kimco Realty's portfolio is strategically concentrated in grocery-anchored shopping centers, focusing on necessity-based goods and services, the general negative sentiment surrounding the retail sector contributed to the stock's underperformance during the period.
Show less
Stock Movement Drivers
Fundamental Drivers
The -9.4% change in KIM stock from 6/30/2026 to 10/19/2026 was primarily driven by a -8.1% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10192026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.05 | 22.69 | -9.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,162 | 2,187 | 1.2% |
| Net Income Margin (%) | 28.5% | 27.8% | -2.7% |
| P/E Multiple | 27.3 | 25.1 | -8.1% |
| Shares Outstanding (Mil) | 672 | 671 | 0.1% |
| Cumulative Contribution | -9.4% |
Market Drivers
6/30/2026 to 10/19/2026| Return | Correlation | |
|---|---|---|
| KIM | -9.4% | |
| Market (SPY) | 2.6% | -11.4% |
| Sector (XLRE) | -5.4% | 64.2% |
Fundamental Drivers
The 3.3% change in KIM stock from 3/31/2026 to 10/19/2026 was primarily driven by a 2.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312026 | 10192026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.97 | 22.69 | 3.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,140 | 2,187 | 2.2% |
| Net Income Margin (%) | 27.3% | 27.8% | 1.6% |
| P/E Multiple | 25.3 | 25.1 | -0.9% |
| Shares Outstanding (Mil) | 674 | 671 | 0.4% |
| Cumulative Contribution | 3.3% |
Market Drivers
3/31/2026 to 10/19/2026| Return | Correlation | |
|---|---|---|
| KIM | 3.3% | |
| Market (SPY) | 18.2% | -6.9% |
| Sector (XLRE) | 3.0% | 69.2% |
Fundamental Drivers
The 8.8% change in KIM stock from 9/30/2025 to 10/19/2026 was primarily driven by a 6.6% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 10192026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.85 | 22.69 | 8.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,095 | 2,187 | 4.4% |
| Net Income Margin (%) | 28.5% | 27.8% | -2.7% |
| P/E Multiple | 23.5 | 25.1 | 6.6% |
| Shares Outstanding (Mil) | 675 | 671 | 0.5% |
| Cumulative Contribution | 8.8% |
Market Drivers
9/30/2025 to 10/19/2026| Return | Correlation | |
|---|---|---|
| KIM | 8.8% | |
| Market (SPY) | 16.0% | 6.4% |
| Sector (XLRE) | 1.5% | 70.3% |
Fundamental Drivers
The 48.8% change in KIM stock from 9/30/2023 to 10/19/2026 was primarily driven by a 24.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302023 | 10192026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.25 | 22.69 | 48.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,759 | 2,187 | 24.3% |
| Net Income Margin (%) | 22.9% | 27.8% | 21.3% |
| P/E Multiple | 23.4 | 25.1 | 7.3% |
| Shares Outstanding (Mil) | 617 | 671 | -8.1% |
| Cumulative Contribution | 48.8% |
Market Drivers
9/30/2023 to 10/19/2026| Return | Correlation | |
|---|---|---|
| KIM | 48.8% | |
| Market (SPY) | 85.5% | 40.1% |
| Sector (XLRE) | 34.4% | 78.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| KIM Return | 69% | -11% | 6% | 15% | -9% | 17% | 96% |
| Peers Return | 55% | -19% | 11% | 4% | 3% | 9% | 62% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| KIM Win Rate | 75% | 42% | 50% | 67% | 33% | 70% | |
| Peers Win Rate | 73% | 37% | 57% | 53% | 55% | 64% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| KIM Max Drawdown | -12% | -30% | -26% | -16% | -19% | -16% | |
| Peers Max Drawdown | -14% | -36% | -27% | -20% | -24% | -20% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HST, FRT, BRX, RPT, SPG. See KIM Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/19/2026 (YTD)
How Low Can It Go
| Event | KIM | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -12.1% | -18.8% |
| % Gain to Breakeven | 13.8% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -19.5% | -9.5% |
| % Gain to Breakeven | 24.2% | 10.5% |
| Time to Breakeven | 40 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -18.7% | -6.7% |
| % Gain to Breakeven | 23.0% | 7.1% |
| Time to Breakeven | 265 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -24.6% | -24.5% |
| % Gain to Breakeven | 32.6% | 32.4% |
| Time to Breakeven | 444 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -57.0% | -33.7% |
| % Gain to Breakeven | 132.5% | 50.9% |
| Time to Breakeven | 315 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -40.4% | -3.7% |
| % Gain to Breakeven | 67.8% | 3.9% |
| Time to Breakeven | 1596 days | 6 days |
In The Past
Kimco Realty's stock fell -12.1% during the 2025 US Tariff Shock. Such a loss loss requires a 13.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | KIM | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -24.6% | -24.5% |
| % Gain to Breakeven | 32.6% | 32.4% |
| Time to Breakeven | 444 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -57.0% | -33.7% |
| % Gain to Breakeven | 132.5% | 50.9% |
| Time to Breakeven | 315 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -40.4% | -3.7% |
| % Gain to Breakeven | 67.8% | 3.9% |
| Time to Breakeven | 1596 days | 6 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -29.7% | -17.9% |
| % Gain to Breakeven | 42.1% | 21.8% |
| Time to Breakeven | 211 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -80.4% | -53.4% |
| % Gain to Breakeven | 409.9% | 114.4% |
| Time to Breakeven | 2110 days | 1085 days |
In The Past
Kimco Realty's stock fell -12.1% during the 2025 US Tariff Shock. Such a loss loss requires a 13.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Kimco Realty (KIM)
Kimco Realty Corp. (KIM) is a real estate investment trust (REIT) that specializes in the ownership, operation, acquisition, and development of retail properties. As one of North America's largest publicly traded entities in its sector, Kimco focuses predominantly on open-air, grocery-anchored shopping centers and mixed-use assets, particularly in top major metropolitan markets.
The company's main service is providing leasable commercial real estate space within these shopping centers. Its primary customers are the various retail businesses, including anchor grocery stores and other complementary tenants, who lease space within Kimco's extensive portfolio. As of September 30, 2020, Kimco owned interests in 400 U.S. shopping centers and mixed-use assets, comprising 70 million square feet of gross leasable space.
```AI Analysis | Feedback
Here are a few brief analogies for Kimco Realty (KIM):
- It's like Simon Property Group, but for everyday, open-air shopping centers anchored by grocery stores, rather than large enclosed malls.
AI Analysis | Feedback
- Commercial Real Estate Leasing: Kimco provides leasable retail, restaurant, and other commercial spaces for businesses within its portfolio of open-air, grocery-anchored shopping centers and mixed-use assets.
AI Analysis | Feedback
- The Kroger Co. (NYSE: KR)
- Ahold Delhaize (OTC: ADRNY)
- The TJX Companies, Inc. (NYSE: TJX)
- Publix Super Markets, Inc. (Private Company)
- Walmart Inc. (NYSE: WMT)
AI Analysis | Feedback
AI Analysis | Feedback
Conor Flynn Chief Executive Officer
Conor Flynn was named Chief Executive Officer of Kimco Realty and appointed to the company's Board of Directors in January 2016. He joined Kimco in 2003 as an asset manager and has held a variety of senior leadership roles within the company, including President, Chief Operating Officer, Chief Investment Officer, and President, Western Region. Mr. Flynn holds a Bachelor of Arts degree in economics from Yale University and a Master's degree in Real Estate Development from Columbia University. He describes himself as an "old school company man" having only worked for Kimco Realty, joining straight out of college after a summer internship. He is a member of the Executive Board of the National Association of Real Estate Investment Trusts (Nareit), serving as their Chair in 2025. He is also a member and board member of the Real Estate Roundtable (RER). In November 2025, he was appointed as an independent director to the Board of AvalonBay Communities, Inc. (AVB). He also serves as a trustee, member of the Executive Board, and 2026 Vice Chairman of the International Council of Shopping Centers (ICSC).
Glenn G. Cohen Executive Vice President, Chief Financial Officer
Glenn G. Cohen was appointed Executive Vice President, Chief Financial Officer of Kimco Realty in June 2010, and has served as Treasurer since 1997. He directs the company's financial and capital strategy and oversees the day-to-day accounting, financial reporting and planning, tax, treasury, and capital market activities, as well as information technology. Prior to joining Kimco in 1995 as Director of Accounting and Taxation, Mr. Cohen served as Chief Operating Officer and Chief Financial Officer for U.S. Balloon Manufacturing Company, and Chief Financial Officer for EMCO Sales and Service, L.P. He also spent six years at the public accounting firm Coopers & Lybrand, LLP (predecessor to PricewaterhouseCoopers LLP) as a manager in the audit group. Mr. Cohen served as an Independent Director for Quality Care Properties, Inc. (NYSE: QCP) from 2016 to 2018, which was acquired by Welltower Inc. (NYSE: WELL) in 2018. He is currently an Independent Director for Piedmont Office Realty Trust, Inc. (NYSE: PDM). He is a Certified Public Accountant and received a Bachelor of Science degree in accounting from the State University of New York at Albany.
Ross Cooper President, Chief Investment Officer
Ross Cooper was elected President and Chief Investment Officer in February 2017, and appointed to the Company's Board of Directors in 2025. He joined Kimco in 2006 and has held various leadership roles, including Executive Vice President and Chief Investment Officer since May 2015, and Vice President of Acquisitions, Dispositions and Asset Management for the Southern Region. In his current role, Mr. Cooper works closely with the company’s Investment Committee, risk team, and regional leadership in overseeing the development and implementation of Kimco’s acquisition and disposition strategy. Mr. Cooper holds a B.S. from the University of Michigan and a Master's degree in Real Estate from New York University. He is the grandson of Milton Cooper, a co-founder and Executive Chairman of Kimco's Board of Directors.
David Jamieson Executive Vice President, Chief Operating Officer
David Jamieson is a voting member of Kimco Realty's Investment Committee, which is responsible for approving new investments, development projects, and property dispositions. He also plays a key role in shaping the company's Corporate Responsibility strategy, with a focus on long-term sustainability objectives. Previously, he served as Vice President of Asset Management and Leasing for the Western Region from 2012 to 2015 and as Director of Real Estate for the Western Region from 2009 to 2011. Mr. Jamieson holds a B.S. from Boston College and an M.B.A. from Babson College.
Bruce M. Rubenstein Executive Vice President, General Counsel and Secretary
Bruce M. Rubenstein is responsible for overseeing Kimco's legal affairs, including its in-house legal department and external counsel. Before joining Kimco, Mr. Rubenstein served as General Counsel to AVR Realty Company. He also practiced law at the law firms of Weinberg and Green in Baltimore, Maryland, and Delson and Gordon and Robinson, Silverman, Pearce, Aronsohn and Berman in New York City. Mr. Rubenstein graduated from Johns Hopkins University in 1978 with a degree in Political Science.
AI Analysis | Feedback
The key risks to Kimco Realty's business are:
- Economic Downturn and Reduced Consumer Spending: A slowing macroeconomic environment and decreased consumer spending directly impact retail tenants' sales and their ability to fulfill lease obligations. This can lead to increased vacancy rates, pressure on rental rates, and potential tenant defaults or bankruptcies within Kimco's shopping centers.
- Rising Interest Rates: Persistent elevated interest rates can increase the cost of refinancing debt, cause capitalization rates to expand (which typically reduces asset valuations), and compress investment returns. Kimco is particularly exposed to interest rate risk through its floating-rate debt under its unsecured revolving credit facility.
- Evolving Retail Landscape and E-commerce Competition: The ongoing shift towards e-commerce and changes in consumer buying preferences present challenges to traditional brick-and-mortar retail. While Kimco focuses on grocery-anchored and essential-needs tenants, these broader trends could still impact foot traffic and tenant demand, requiring the company to continuously adapt its properties and tenant base to remain competitive.
AI Analysis | Feedback
The accelerating shift towards online grocery fulfillment models (e.g., curbside pickup, home delivery, micro-fulfillment centers, dark stores) and a potential reduction in in-person grocery store browsing could diminish the consistent foot traffic traditionally generated by grocery anchors. This, in turn, could negatively impact the viability and attractiveness of co-located smaller retail and service tenants in Kimco's open-air shopping centers, thereby reducing demand for their space and rental income potential.
AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
Share Repurchases
- In November 2025, Kimco Realty announced a new share repurchase program, authorizing the buyback of up to $750 million of its common stock, replacing a prior initiative.
- For the full year 2025, Kimco repurchased 6.1 million shares of common stock at a weighted average price of $19.79 per share.
- These share repurchases in 2025 were executed at an implied FFO yield of approximately 9%.
Share Issuance
- In November 2025, Kimco Realty launched a new "at the market" equity offering program, allowing the company to issue and sell up to $750 million in common stock.
- All-stock acquisitions, including the 2021 Weingarten merger and the 2024 RPT Realty acquisition, significantly increased the number of shares outstanding.
- Kimco Realty's shares outstanding increased by 8.72% in 2024 from 2023, and by 0.47% in 2025 from 2024.
Outbound Investments
- On January 2, 2024, Kimco Realty completed an all-stock acquisition of RPT Realty, adding 56 open-air shopping centers and 13.3 million square feet to its portfolio.
- In 2024, the company acquired Waterford Lakes Town Center in Orlando, Florida, for $322 million.
- In January 2025, Kimco acquired The Markets at Town Center in Jacksonville, Florida, for $108 million, converting it from a mezzanine financing position.
Capital Expenditures
- For the full year 2023, capital expenditures amounted to $220 million.
- Kimco's 2024 outlook included estimated capital expenditures (tenant improvements, landlord work, and leasing commissions) ranging from $250 million to $300 million.
- For 2026, Kimco anticipates total development and redevelopment investment between $100 million to $150 million, and capitalized lease-related and maintenance spending of $275 million to $300 million, focusing on enhancing its long-term growth profile through strategic capital recycling.
Peer Outperformance in Retail REITs
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| KIM | Kimco Realty | 7.6% | 25.1x | 8.9% | 56.7% | 25.4% | — |
| SKT | Tanger | 11.0% | 31.5x | 10.7% | 67.8% | 147.2% | +122pp |
| SPG | Simon Property | 8.6% | 14.2x | 19.0% | 121.0% | 84.9% | +60pp |
| MAC | Macerich | 5.3% | -36.4x | 35.0% | 140.2% | 55.4% | +30pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care REITs | 15 | 11.8% | 57.9% | 51.2% | WELL 213% · CTRE 115% · OHI 112% |
| Retail REITs ← | 22 | 7.6% | 38.3% | 25.2% | SKT 147% · SPG 85% · MAC 55% |
| Other Specialized REITs | 11 | 3.1% | 21.5% | 9.8% | IRM 200% · LAMR 64% · OUT 61% |
| Real Estate Development | 6 | -18.7% | 13.1% | 8.8% | JOE 61% |
| Hotel & Resort REITs | 16 | 51.0% | 46.1% | 6.0% | HST 87% · RHP 77% · DRH 61% |
| Industrial REITs | 11 | 3.1% | 33.4% | -5.5% | EGP 25% · FR 17% · TRNO 6% |
| Diversified REITs | 13 | 3.9% | 29.6% | -17.3% | WPC 13% · EPRT 9% · LXP 7% |
| Single-Family Residential REITs | 4 | -1.8% | 2.5% | -18.8% | AMH -10% · ELS -17% · INVH -21% |
| Multi-Family Residential REITs | 13 | -5.7% | 6.7% | -25.0% | ESS -3% · VMRK -11% · IRT -19% |
| Real Estate Services | 25 | -27.8% | -6.0% | -35.9% | CBRE 28% · JLL 20% · NMRK -18% |
| Office REITs | 18 | -12.4% | 25.6% | -36.3% | CDP 45% · HIW -11% · CUZ -13% |
| Telecom Tower REITs | 3 | -4.3% | 10.6% | -39.9% | AMT -21% · CCI -40% · SBAC -40% |
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 25.79 |
| Mkt Cap | 12.1 |
| Rev LTM | 1,795 |
| Op Inc LTM | 757 |
| FCF LTM | 851 |
| FCF 3Y Avg | 772 |
| CFO LTM | 932 |
| CFO 3Y Avg | 850 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.9% |
| Rev Chg 3Y Avg | 6.2% |
| Rev Chg Q | 6.3% |
| QoQ Delta Rev Chg LTM | 1.5% |
| Op Inc Chg LTM | 9.2% |
| Op Inc Chg 3Y Avg | 6.8% |
| Op Mgn LTM | 34.6% |
| Op Mgn 3Y Avg | 35.1% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 48.0% |
| CFO/Rev 3Y Avg | 48.2% |
| FCF/Rev LTM | 35.5% |
| FCF/Rev 3Y Avg | 48.0% |
Price Behavior
| Market Price | $22.69 | |
| Market Cap ($ Bil) | 15.2 | |
| First Trading Date | 11/22/1991 | |
| Distance from 52W High | -13.0% | |
| 50 Days | 200 Days | |
| DMA Price | $23.06 | $22.97 |
| DMA Trend | down | up |
| Distance from DMA | -1.6% | -1.2% |
| 3M | 1YR | |
| Volatility | 13.4% | 17.6% |
| Downside Capture | 66.88 | 4.41 |
| Upside Capture | -7.16 | 16.01 |
| Correlation (S&P 500) | -3.0% | 3.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.12 | 0.00 | -0.14 | -0.08 | 0.10 | 0.59 |
| Up Beta | -0.34 | -0.57 | -0.91 | -0.30 | -0.01 | 0.64 |
| Down Beta | -0.05 | -0.27 | 0.01 | -0.24 | 0.28 | 0.56 |
| Up Capture | -8% | -18% | -18% | 4% | 7% | 27% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 8 | 14 | 24 | 59 | 124 | 377 |
| Down Capture | 81% | 104% | 53% | 5% | 4% | 80% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 14 | 28 | 40 | 66 | 127 | 366 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KIM | |
|---|---|---|---|---|
| KIM | 10.1% | 17.6% | 0.38 | - |
| Sector ETF (XLRE) | 2.4% | 14.2% | -0.07 | 70.1% |
| Equity (SPY) | 17.1% | 12.7% | 0.95 | 3.0% |
| Gold (GLD) | -4.2% | 29.3% | -0.15 | -3.3% |
| Commodities (DBC) | 52.6% | 20.7% | 1.93 | -19.0% |
| Real Estate (VNQ) | 3.9% | 13.7% | 0.03 | 73.1% |
| Bitcoin (BTCUSD) | -24.8% | 43.7% | -0.53 | -2.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KIM | |
|---|---|---|---|---|
| KIM | 5.4% | 25.1% | 0.18 | - |
| Sector ETF (XLRE) | 1.9% | 19.1% | -0.01 | 78.4% |
| Equity (SPY) | 13.5% | 17.1% | 0.60 | 54.8% |
| Gold (GLD) | 18.3% | 18.9% | 0.78 | 5.4% |
| Commodities (DBC) | 9.8% | 19.5% | 0.38 | 10.4% |
| Real Estate (VNQ) | 1.3% | 18.8% | -0.04 | 81.4% |
| Bitcoin (BTCUSD) | 7.2% | 51.8% | 0.32 | 20.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KIM | |
|---|---|---|---|---|
| KIM | 2.9% | 33.9% | 0.17 | - |
| Sector ETF (XLRE) | 6.5% | 20.4% | 0.27 | 69.6% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 51.2% |
| Gold (GLD) | 12.2% | 16.4% | 0.61 | 1.8% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 20.3% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 74.8% |
| Bitcoin (BTCUSD) | 63.0% | 66.2% | 1.03 | 12.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/4/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | -1.6% | -5.1% | -5.1% |
| 4/30/2026 | 0.0% | 0.7% | 1.9% |
| 2/12/2026 | 1.5% | 2.6% | 5.3% |
| 10/30/2025 | -1.9% | -4.5% | -4.3% |
| 7/31/2025 | -3.1% | -2.6% | 2.3% |
| 5/1/2025 | 4.9% | 3.4% | 6.4% |
| 2/7/2025 | -0.1% | 0.1% | -4.0% |
| 8/1/2024 | 1.3% | -1.0% | 5.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 11 | 13 |
| # Negative | 9 | 12 | 10 |
| Median Positive | 1.8% | 1.7% | 5.3% |
| Median Negative | -1.9% | -2.1% | -4.2% |
| Max Positive | 5.1% | 31.8% | 45.5% |
| Max Negative | -3.4% | -5.1% | -14.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | -1.6% | -5.1% | -5.1% |
| 4/30/2026 | 0.0% | 0.7% | 1.9% |
| 2/12/2026 | 1.5% | 2.6% | 5.3% |
| 10/30/2025 | -1.9% | -4.5% | -4.3% |
| 7/31/2025 | -3.1% | -2.6% | 2.3% |
| 5/1/2025 | 4.9% | 3.4% | 6.4% |
| 2/7/2025 | -0.1% | 0.1% | -4.0% |
| 8/1/2024 | 1.3% | -1.0% | 5.9% |
| 5/2/2024 | 2.5% | 2.3% | 4.6% |
| 2/8/2024 | -0.7% | -3.5% | -2.2% |
| 10/26/2023 | 5.1% | 10.5% | 14.2% |
| 7/27/2023 | -2.7% | -2.6% | -9.7% |
| 4/27/2023 | 1.8% | -1.1% | -4.1% |
| 2/9/2023 | -3.4% | -3.9% | -14.3% |
| 10/27/2022 | 1.0% | 1.6% | 10.8% |
| 7/28/2022 | 1.7% | -0.3% | 4.4% |
| 4/28/2022 | 4.4% | 0.3% | -8.4% |
| 2/10/2022 | -2.3% | -1.7% | -3.2% |
| 11/5/2021 | 4.0% | 1.7% | -0.0% |
| 7/29/2021 | 2.2% | -1.1% | 4.1% |
| 4/29/2021 | 1.6% | -1.5% | 0.4% |
| 2/11/2021 | 1.8% | 1.4% | 12.7% |
| 11/5/2020 | -1.3% | 31.8% | 45.5% |
| SUMMARY STATS | |||
| # Positive | 14 | 11 | 13 |
| # Negative | 9 | 12 | 10 |
| Median Positive | 1.8% | 1.7% | 5.3% |
| Median Negative | -1.9% | -2.1% | -4.2% |
| Max Positive | 5.1% | 31.8% | 45.5% |
| Max Negative | -3.4% | -5.1% | -14.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/20/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/26/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/20/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/26/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| 06/30/2022 | 07/29/2022 | 10-Q |
| 03/31/2022 | 04/29/2022 | 10-Q |
| 12/31/2021 | 03/01/2022 | 10-K |
| 09/30/2021 | 11/05/2021 | 10-Q |
| 06/30/2021 | 07/30/2021 | 10-Q |
| 03/31/2021 | 04/30/2021 | 10-Q |
| 12/31/2020 | 02/23/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/07/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/25/2020 | 10-K |
| 09/30/2019 | 10/25/2019 | 10-Q |
Recent Forward Guidance
Updated 8/5/2026Latest: Q2 2026 Earnings Reported 8/4/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 FFO | Reported | 1.83 | 1.84 | 1.84 | 0.5% | Raised | Guidance: 1.83 for 2026 | |
| 2026 Same property NOI growth | Reported | 3.0% | 3.25% | 3.5% | 0.1% | Raised | Guidance: 3.15% for 2026 | |
| 2026 Consolidated mortgage and other financing income, net | Reported | 45.00 Mil | 47.50 Mil | 50.00 Mil | ||||
| 2026 Credit loss % of total pro-rata rental revenues | Reported | -0.75% | -0.65% | -0.55% | 0.1% | Raised | Guidance: -0.77% for 2026 | |
| 2026 Non-cash GAAP revenues | Reported | 48.00 Mil | 50.50 Mil | 53.00 Mil | ||||
| 2026 Consolidated interest expense and preferred stock dividends | Reported | 368.00 Mil | 370.00 Mil | 372.00 Mil | -0.7% | Lowered | Guidance: 372.50 Mil for 2026 | |
| 2026 Net Income | Reported | 1 | 1.02 | 1.03 | 19.4% | Raised | Guidance: 0.85 for 2026 | |
| 2026 Redevelopment capex | Reported | 125.00 Mil | 137.50 Mil | 150.00 Mil | ||||
Prior: Q1 2026 Earnings Reported 4/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 FFO | Reported | 1.81 | 1.83 | 1.84 | 0.3% | Raised | Guidance: 1.82 for 2026 | |
| 2026 Same property NOI growth | Reported | 2.8% | 3.15% | 3.5% | 0.2% | Raised | Guidance: 3.0% for 2026 | |
| 2026 Lease termination income | Reported | |||||||
| 2026 Consolidated G&A expense, net | Reported | |||||||
| 2026 Consolidated mortgage and other financing income, net | Reported | |||||||
| 2026 Property acquisitions, net of dispositions | Reported | |||||||
| 2026 Structured investments, net | Reported | |||||||
| 2026 Credit loss % of total pro-rata rental revenues | Reported | -0.9% | -0.77% | -0.65% | 0.1% | Raised | Guidance: -0.87% for 2026 | |
| 2026 Non-cash GAAP revenues | Reported | |||||||
| 2026 Consolidated interest expense and preferred stock dividends | Reported | 369.00 Mil | 372.50 Mil | 376.00 Mil | -0.3% | Lowered | Guidance: 373.50 Mil for 2026 | |
| 2026 Net Income | Reported | 0.83 | 0.85 | 0.87 | 3.7% | Raised | Guidance: 0.82 for 2026 | |
| 2026 Redevelopment capex | Reported | |||||||
| 2026 Leasing and maintenance capex | Reported | |||||||
Q4 2025 Earnings Reported 2/12/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 FFO | Reported | 1.8 | 1.82 | 1.84 | 3.7% | Higher New | Actual: 1.76 for 2025 | |
| 2026 Same property NOI growth | Reported | 2.5% | 3.0% | 3.5% | ||||
| 2026 Lease termination income | Reported | 7.00 Mil | 11.00 Mil | 15.00 Mil | ||||
| 2026 Consolidated G&A expense, net | Reported | 128.00 Mil | 130.00 Mil | 132.00 Mil | ||||
| 2026 Consolidated mortgage and other financing income, net | Reported | 45.00 Mil | 50.00 Mil | 55.00 Mil | ||||
| 2026 Property acquisitions, net of dispositions | Reported | 300.00 Mil | 400.00 Mil | 500.00 Mil | ||||
| 2026 Structured investments, net | Reported | 75.00 Mil | 100.00 Mil | 125.00 Mil | ||||
| 2026 Credit loss % of total pro-rata rental revenues | Reported | -1.0% | -0.87% | -0.75% | -0.1% | Lower New | Actual: -0.8% for 2025 | |
| 2026 Non-cash GAAP revenues | Reported | 45.00 Mil | 47.50 Mil | 50.00 Mil | ||||
| 2026 Consolidated interest expense and preferred stock dividends | Reported | 370.00 Mil | 373.50 Mil | 377.00 Mil | ||||
| 2026 Net Income | Reported | 0.8 | 0.82 | 0.84 | 5.1% | Higher New | Actual: 0.78 for 2025 | |
| 2026 Redevelopment capex | Reported | 100.00 Mil | 125.00 Mil | 150.00 Mil | 25.0% | Higher New | Actual: 100.00 Mil for 2025 | |
| 2026 Leasing and maintenance capex | Reported | 275.00 Mil | 287.50 Mil | 300.00 Mil | 0 | Same New | Actual: 287.50 Mil for 2025 | |
Q3 2025 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 FFO | Reported | 1.75 | 1.76 | 1.76 | 0.9% | Raised | Guidance: 1.74 for 2025 | |
| 2025 Redevelopment spending | Reported | 90.00 Mil | 100.00 Mil | 110.00 Mil | ||||
| 2025 Credit loss % of total pro-rata rental revenues | Reported | -0.85% | -0.8% | -0.75% | ||||
| 2025 Interest income – Other income, net | Reported | 9.00 Mil | 10.00 Mil | 11.00 Mil | ||||
| 2025 Net Income | Reported | 0.77 | 0.78 | 0.79 | 4.0% | Raised | Guidance: 0.75 for 2025 | |
| 2025 Capital expenditures | Reported | 275.00 Mil | 287.50 Mil | 300.00 Mil | ||||
Investor Activity (13F)
Updated Oct 20, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
| Real Estate Resources |
| The Real Deal |
| Commercial Observer |
| Inman |
| Retail REITs Resources |
| ICSC |
| Shopping Center Business |
| Chain Store Age - Real Estate |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.