Kimco Realty Announces Q2 2025 Results, Increases 2025 Outlook.

• Kimco Realty reports Q2 2025 results • Net income per diluted share at $0.23, up from $0.17 in Q2 2024 • FFO per diluted share at $0.44, a 7.3% increase YoY • Same property NOI up 3.1% • Small shop occupancy reaches record high • Increases 2025 outlook on solid growth in net income and FFO.

Kimco Realty (NYSE: KIM), a leading real estate investment trust (REIT) specializing in grocery-anchored shopping centers, has reported robust second-quarter 2025 results, demonstrating resilience and growth in the face of retail challenges. The company's net income per diluted share increased by 35% to $0.23, up from $0.17 in Q2 2024 [1]. Funds from operations (FFO) per diluted share rose by 7.3% to $0.44, outpacing the REIT sector average [1].

Key highlights from the report include a 3.1% increase in same property net operating income (NOI) and a record-breaking small shop occupancy rate of 92.2% [1]. These achievements underscore the strong demand for well-located retail spaces in Kimco's portfolio, despite economic pressures and e-commerce competition.

Notably, Kimco's strategic focus on grocery-anchored centers has contributed to its ability to achieve rent growth even in a challenging retail environment. As of Q2 2025, 86% of the company's annual base rent comes from grocery-anchored properties, indicating a strong commitment to necessity-based retail [1]. The company's balance sheet management also demonstrates discipline, with the strategic disposition of a single-tenant Home Depot property for $49.5 million and plans to reinvest in a higher-growth grocery-anchored center [1].

The company's $66 million pipeline of signed-but-not-commenced leases provides excellent visibility into future NOI growth. Coupled with the raised 2025 guidance (FFO now $1.73-$1.75 versus prior $1.71-$1.74), this indicates management's confidence in continued strong operating performance through the remainder of the year [1].

Kimco Realty's CEO, Conor Flynn, commented, "Our FFO per share growth reflects both the strength of our high-quality portfolio and our best-in-class platform and leasing team. The modest dip in overall occupancy due to the bankruptcies of JOANN and Party City was significantly less than anticipated, further evidencing the strong tenant demand for our well-located centers and the resilient consumer demand for necessity-based essential goods and services. With consistently strong levels of retail demand, limited new construction supply, and an expanding pipeline of rent commencements, we are well positioned to deliver FFO per share growth in excess of 5% for the second consecutive year" [1].

References:
[1] https://www.stocktitan.net/news/KIM/kimco-realty-announces-second-quarter-2025-1p5ortieyt3n.html