Kimco Realty (NYSE:KIM) shares traded steadily Thursday after the grocery-anchored REIT giant reported fourth-quarter results that showcased the fundamental strength of the U.S. open-air retail sector.
The Jericho, New York-based company reported fourth-quarter revenue of $542.5 million, a 3.3% increase that beat the $537.3 million anticipated by analysts.
Net income for the quarter was $0.21 per share, while Funds From Operations (FFO)—the primary metric for REIT profitability—reached $0.44 per share, a 4.8% jump year-over-year.
For the full year 2025, Kimco achieved a record pro-rata occupancy rate of 96.4%, driven by aggressive leasing to "essential" tenants like TJX Companies and Whole Foods, as well as the successful integration of its $2 billion RPT Realty acquisition.
CEO Conor Flynn highlighted that the company’s "leased-to-economic occupancy spread" has reached a record 390 basis points, representing $73 million in future annual base rent already signed but not yet commenced.
Bolstered by an upgraded "A3" credit rating from Moody’s and $2.2 billion in immediate liquidity, Kimco initiated a bullish 2026 FFO guidance range of $1.80 to $1.84 per share.