AI Earnings Predictions for Kimco Realty Corporation (HC) (KIM)

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Exhibit 99.1

Kimco Realty® Announces Second Quarter 2026 Results

– Strong Leasing Gains Drove Occupancy to All-time Highs –

– Increases Common Dividend 12% Year-over-Year –

– Raises 2026 Outlook –

JERICHO, New York, August 4, 2026 - Kimco Realty® (NYSE: KIM), a real estate investment trust (“REIT”) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States, today reported results for the second quarter ended June 30, 2026. For the three months ended June 30, 2026 and 2025, Net income available to the company’s common shareholders (“Net income”) per diluted share was $0.22 and $0.23, respectively.

Second Quarter Highlights

• Delivered 4.5% growth in Funds From Operations* ("FFO") per diluted share to $0.46.

• Achieved pro-rata cash rent spreads of 40.4% on comparable new leases.

• Matched all-time high portfolio occupancy of 96.4% and achieved a record small-shop occupancy level of 92.9%.

• Grew same property net operating income* ("NOI") 3.5% year-over-year.

• Completed the sale of The Milton, a 253-unit multifamily building at Pentagon Centre, for $142.3 million.

• Issued $600.0 million 3.50% exchangeable senior notes due 2031.

• Raised the quarterly cash dividend on common shares by 12.0% to $0.28 per share.

"Our operating and financial performance reflect the strength of our platform and the team's disciplined execution throughout the quarter," stated Kimco CEO Conor Flynn. "The combination of limited new shopping center supply, continued consumer demand for the everyday essentials, and strong shopper traffic across our open-air portfolio supported robust leasing activity. Together with our strategic capital allocation activities, we further enhanced our financial flexibility and strengthened our balance sheet. Given our strong cash flow growth this year from the strength of operations, we're raising our common cash dividend by 12%, a quarter ahead of our typical schedule, a reflection of both our higher operating income and confidence in Kimco's long-term outlook. We remain committed to executing our strategy and creating long-term value for our shareholders.”

Financial Results

Net income for the second quarter of 2026 was $145.8 million, or $0.22 per diluted share, compared to $155.4 million, or $0.23 per diluted share, for the second quarter of 2025. The year-over-year change reflects growth in consolidated revenues from rental properties, net, of $25.5 million and increased equity in income of joint ventures, net, of $8.5 million, offset by lower gains on sales of properties of $37.6 million.

FFO was $309.2 million, or $0.46 per diluted share, for the second quarter of 2026, compared to $297.6 million, or $0.44 per diluted share, for the second quarter of 2025. Gains on sales of properties, net of impairments, is excluded from the company's calculation of FFO.

Operating Results

• Executed 461 leases totaling 2.5 million square feet during the second quarter, generating blended pro-rata cash rent spreads of 13.1% on comparable spaces, including 40.4% on new leases, 6.1% on renewals and 8.0% on options.

• Pro-rata leased occupancy increased 10 basis points sequentially and 100 basis points year-over-year to 96.4%.

• Small shop occupancy increased 40 basis points sequentially and 70 basis points year-over-year to a record 92.9%.

* Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.

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500 North Broadway, Suite 201 | Jericho, NY 11753 | (833) 800-4343 kimcorealty.com

• Maintained strong pro-rata anchor occupancy, which increased 110 basis points year-over-year to 97.8%.

• Generated 3.5% growth in same property NOI during the second quarter compared to the same period a year ago, driven by a 2.6% increase in minimum rents. Credit loss, as a percentage of total pro-rata rental revenues, was 57 basis points during the second quarter.

• The spread between the company's pro-rata leased versus economic occupancy rates was 400 basis points, a 10 basis point sequential compression, representing $75 million in future rents from signed leases that have not yet commenced.

Transactional Activities

• Sold The Milton, a 253-unit multifamily building at the company's Pentagon Centre mixed-use property in Pentagon City, Virginia, for $142.3 million, marking Kimco's first multifamily asset disposition. The cap rate on this transaction was approximately 4.9%, and the company's pro-rata share of the sales price was $78.2 million.

• Sold Shoppes at Bears Path, a shopping center totaling 44,000 square feet in Tucson, Arizona, for $7.8 million. The proceeds are intended to be utilized in a future 1031 exchange.

Subsequent to quarter end:

• Completed the sale of four Costco-anchored assets comprising two entire shopping center prope

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Exhibit 99.1

Kimco Realty® Announces First Quarter 2026 Results

– Leased 4.4 Million Square Feet with New Lease Spreads of 24% –

– Record $77 Million in Future ABR from Leased-to-Economic Occupancy Spread –

– Updates 2026 Outlook –

JERICHO, New York, April 30, 2026 - Kimco Realty® (NYSE: KIM), a real estate investment trust (“REIT”) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States, today reported results for the first quarter ended March 31, 2026. For the three months ended March 31, 2026 and 2025, Net income available to the company’s common shareholders (“Net income”) per diluted share was $0.23 and $0.18, respectively.

First Quarter Highlights

• Produced 4.5% growth in Funds From Operations* (“FFO”) per diluted share to $0.46.

• Generated blended pro-rata cash rent spreads of 11.3% on comparable leases.

• Achieved record leased-to-economic occupancy spread of 410 basis points, representing a $77 million, or a 28%, year-over-year increase in future Annual Base Rent (“ABR”).

• Completed the sale of two ground‑leased parcels totaling $47.1 million and deployed $37.9 million into new structured investments, net of repayments.

• Completed $106 million preferred equity mixed-use development at Coulter Place, a 131-unit multifamily project complementing 400,000-square-foot premier lifestyle center at Suburban Square in Ardmore, Pennsylvania.

"Our solid first quarter results, highlighted by strong leasing activity, rent commencements, and tenant credit profiles, continue to validate our strategy and underscore the power of the Kimco platform, the quality of our portfolio, the resilient demand for our product and the ability to generate durable cash flow,” said Kimco CEO Conor Flynn. “With a significant signed-not-opened pipeline set to come online over the coming quarters, we have a clear line of sight to meaningful organic growth. Combining our strong balance sheet with a disciplined approach to capital allocation, we remain confident that we will meet our external growth targets and deliver sustained long-term value for our shareholders.”

Financial Results

Net income for the first quarter of 2026 was $157.4 million, or $0.23 per diluted share, compared to $125.1 million, or $0.18 per diluted share, for the first quarter of 2025. This 28% per diluted share increase is primarily attributable to:

• $21.5 million of growth in consolidated revenues from rental properties, net, driven by an increase of $8.3 million in minimum rents and a $6.5 million increase in reimbursement income compared to the prior year period.

• This growth was partially offset by a $5.7 million increase in total operating and maintenance expenses mainly attributable to higher snow removal and landscaping-related services, a $2.9 million increase in real estate tax expense, and $2.5 million in lower lease termination income compared to the prior year period.

• A $15.3 million increase in gains on sales of operating properties, net of non-cash impairments, compared to the first quarter of 2025, primarily due to the sale of a ground leased parcel at Mission Bell shopping center. Gains on sales of operating properties, net of impairments, is excluded from the company’s calculation of FFO.

• A $5.1 million increase in equity in income from other investments, primarily driven by $4.8 million of higher profit participation income, which is excluded from the company’s calculation of FFO.

FFO was $311.3 million, or $0.46 per diluted share, for the first quarter of 2026, compared to $301.9 million, or $0.44 per diluted share, for the first quarter of 2025.

* Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.

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500 North Broadway, Suite 201 | Jericho, NY 11753 | (833) 800-4343 kimcorealty.com

Operating Results

• Signed 4.4 million square feet during the first quarter comprising 576 leases, generating blended pro-rata cash rent spreads on comparable spaces of 11.3%, with new leases up 23.8% and renewals and options growing 12.0% and 7.9%, respectively.

• Increased pro-rata leased occupancy by 50 basis points year-over-year to 96.3% at quarter end.

• Reported pro-rata anchor occupancy of 97.9%, up 50 basis points year-over-year, with pro-rata small shop occupancy of 92.5%, up 80 basis points year-over-year.

• Generated 1.7% growth in same property net operating income* (“NOI”) year-over-year, driven by a 2.2% increase in minimum rents. Credit loss, as a percentage of total pro-rata rental revenues, was 52 basis points during the first quarter.

Transactional Activities

• Sold two ground-leased parcels: Lowe's Home Improvement at Mission Bell Shopping Center in Tampa, Florida for $22.8 million and the Walmart and Sam's Club at Dulles Town Crossing in

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Exhibit 99.1

Kimco Realty® Announces Fourth Quarter and Full Year 2025 Results

– Net Income and Funds From Operations Achieve High End of Full Year Outlook –

– Strong Leasing Gains Drive Occupancy to All-time Highs –

– Provides Initial 2026 Outlook –

JERICHO, New York, February 12, 2026 - Kimco Realty® (NYSE: KIM), a real estate investment trust (“REIT”) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States, today reported results for the fourth quarter and full year ended December 31, 2025. For the three months ended December 31, 2025 and 2024, Net income available to the company’s common shareholders (“Net income”) per diluted share was $0.21 and $0.23, respectively. For the full year 2025 and 2024, Net income per diluted share was $0.82 and $0.55, respectively.

Fourth Quarter & Full Year 2025 Highlights

• Generated 4.8% growth in funds from operations(1) (“FFO”) per diluted share in the fourth quarter of 2025 compared to the prior year period, increasing to $0.44 per diluted share. For the full year, FFO per diluted share increased by 6.7% over the prior year.

• Produced a 3.0% year-over-year increase in same property net operating income(1) (“NOI”) for both the fourth quarter and full year.

• Reported pro-rata portfolio occupancy of 96.4%, matching the company’s all-time high, with pro-rata small shop occupancy reaching a new record level of 92.7%.

• Expanded leased-to-economic occupancy spread to 390 basis points, representing $73 million of Annual Base Rent (“ABR”) for near-term rent commencements from signed leases, each representing new highs.

• Acquired the common member interests in The Shoppes at 82nd Street, a Target-anchored center, through the company’s Structured Investments Program, for $74.0 million.

• Repurchased 3.1 million shares of common stock during the fourth quarter of 2025 at a weighted average price of $19.96 per share, net of fees and commissions.

• Achieved an ‘A3’ unsecured debt rating from Moody’s Ratings, as previously announced, placing Kimco among a select group of REITs with A-level ratings from the three largest ratings agencies.

"Kimco's fourth quarter and full-year results, highlighted by FFO per diluted share growth of 6.7% for the full year 2025, and exceeding 5% for the second consecutive year, validate the quality of our portfolio and platform, demand for our product, and our overall strategy and commitment to generating durable long-term value in any environment,” said Kimco CEO Conor Flynn. “This outperformance, together with our 2026 outlook, strong balance sheet and disciplined capital allocation, positions Kimco to drive further growth and value for our shareholders.”

Financial Results

Fourth Quarter 2025

Net income for the fourth quarter of 2025 was $143.6 million, or $0.21 per diluted share, compared to $154.8 million, or $0.23 per diluted share, for the fourth quarter of 2024. Net income for the fourth quarter of 2025 reflected:

• $17.0 million of higher consolidated revenues from rental properties, net, driven primarily by $8.9 million of higher minimum rent and $4.7 million of increased benefit from non-cash rent adjustments compared to the prior-year period.

• $18.1 million of higher gains on sales of properties, net of non-cash impairments, compared to the fourth quarter of 2024.

• $46.9 million benefit for income taxes related to the sale of Albertsons Companies Inc. common stock in the fourth quarter of 2024.

(1) Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.

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500 North Broadway, Suite 201 | Jericho, NY 11753 | (833) 800-4343 kimcorealty.com

FFO grew to $294.3 million, or $0.44 per diluted share, for the fourth quarter of 2025, compared to $286.9 million, or $0.42 per diluted share, for the fourth quarter of 2024. The company excludes from FFO all realized or unrealized derivative/marketable securities gains, losses and applicable taxes, as well as gains and losses from the sales of properties, depreciation and amortization related to real estate, profit participation from other investments, and other items considered incidental to the company’s business.

Full Year 2025

Net income grew to $554.4 million, or $0.82 per diluted share, compared to $375.7 million, or $0.55 per diluted share, for the full year 2024.

FFO grew to $1.2 billion, or $1.76 per diluted share, compared to $1.1 billion, or $1.65 per diluted share, for the full year 2024, representing a 6.7% per share increase over the prior year.

Operating Results

• Signed 435 leases totaling 2.7 million square feet during the fourth quarter, generating blended pro-rata cash rent spreads on comparable spaces of 13.8%, with new leases up 29.0% and renewals and options growing 5.9% and 9.2%, respect

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Exhibit 99.1

Kimco Realty® Announces Third Quarter 2025 Results

– Achieves Record Leased-to-Economic Occupancy Spread –

– New High in Small Shop Occupancy –

– 4% Increase to Cash Dividend on Common Shares –

– Raises 2025 Outlook Range –

JERICHO, New York, October 30, 2025 - Kimco Realty® (NYSE: KIM), a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States, today reported results for the third quarter ended September 30, 2025. For the three months ended September 30, 2025 and 2024, Net income available to the company’s common shareholders (“Net income”) per diluted share was $0.19 for both periods.

Highlights

• Produced Funds From Operations(1) (“FFO”) of $0.44 per diluted share.

• Grew pro-rata portfolio occupancy to 95.7%, up 30 basis points sequentially.

• Reached an all-time high for pro-rata small shop occupancy of 92.5%.

• Expanded leased-to-economic occupancy spread to 360 basis points, representing $71 million of Annual Base Rent (“ABR”) for near-term rent commencements from signed leases, each representing new highs.

• Acquired the remaining 85% ownership interest in Tanasbourne Village, a dual-grocery-anchored shopping center, for a pro-rata purchase price of $65.9 million.

• Achieved an ‘A-’ credit rating from S&P Global Ratings marking a second ‘A-’ rating from a major rating agency.

• Activated The Chester, a 214-unit multi-family project at Westlake Shopping Center in Daly City, California.

• Appointed Will Teichman Executive Vice President and Chief Innovation and Transformation Officer.

“Kimco’s third-quarter results reflect the company’s winning long-term strategy: to generate sustained earnings growth and shareholder value by leveraging our grocery-anchored and mixed-use portfolios, rock-solid balance sheet, best-in-class team and a renewed emphasis on technology and innovation. The all-time highs for small shop occupancy and the rent commencement pipeline are great examples of the strong demand for our product and provide real visibility into our growth potential. Receiving our second A- rating further establishes that we are resilient, competitively advantaged, and built for all seasons. Our raised full year outlook and increased quarterly dividend reaffirms the strength of our platform and the confidence to deliver for our shareholders.”

Financial Results

Net income for the third quarter of 2025 was $130.2 million, or $0.19 per diluted share, compared to $128.0 million, or $0.19 per diluted share, for the third quarter of 2024. Key items affecting financial results for each period include:

• $28.2 million growth in consolidated revenues from rental properties, net, mainly due to $12.5 million in higher minimum rent and $8.0 million in increased other rental property income.

• $6.0 million higher equity in income of joint ventures, primarily due to the gain recognized on a change in control of Tanasbourne Village.

• $4.2 million improvement in general and administrative expenses.

This growth was partially offset by:

• $13.6 million of increased depreciation and amortization expense.

(1) Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.

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500 North Broadway, Suite 201 | Jericho, NY 11753 | (833) 800-4343 kimcorealty.com

• $12.6 million change in the other (expense)/income, net, line item. This was primarily due to a $5.5 million mark-to-market change in derivatives as well as a reduction in interest income related to lower cash balances held by the company; and

• $8.0 million in increased interest expense.

FFO was $300.3 million, or $0.44 per diluted share, for the third quarter of 2025, compared to $287.4 million, or $0.43 per diluted share, for the third quarter of 2024. The company’s FFO benefited approximately $3.2 million from the accelerated amortization of two below market Rite Aid leases in the quarter. The company excludes from FFO all realized or unrealized derivative/marketable securities gains, losses and applicable taxes, as well as gains and losses from the sales of properties, depreciation and amortization related to real estate, profit participation from other investments, and other items considered incidental to the company’s business.

Operating Results

• Signed 427 leases totaling 2.3 million square feet during the third quarter, generating blended pro-rata cash rent spreads on comparable spaces of 11.1%, with new leases up 21.1% and renewals and options growing 8.2%. For the nine months ended, September 30, 2025, the company leased 9.4 million square feet, representing an 8.3% increase over the same period last year.

• Pro-rata leased occupancy increased to 95.7% with pro-rata anchor and small shop occupancy ending the quarter at 97.

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Exhibit 99.1

Kimco Realty® Announces Second Quarter 2025 Results

– Increases 2025 Outlook on Solid Growth in Net Income and FFO –

– Same Property NOI Increased 3.1% –

– Small Shop Occupancy Reaches Record High –

JERICHO, New York, July 31, 2025 - Kimco Realty® (NYSE: KIM), a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States, today reported results for the second quarter ended June 30, 2025. For the three months ended June 30, 2025 and 2024, Net income available to the company’s common shareholders (“Net income”) per diluted share was $0.23 and $0.17, respectively.

Highlights

• Reported 7.3% growth in Funds From Operations* (“FFO”) per diluted share over the same period in 2024 to $0.44.

• Produced a 3.1% increase in Same Property Net Operating Income* (“NOI”) over the same period a year ago.

• Generated blended pro-rata cash rent spreads of 15.2% on comparable leases, marking the highest quarterly level in over seven years.

• Small shop occupancy reached an all-time company record of 92.2%, surpassing the previous high by 40 basis points.

• Grew pipeline of near-term rent commencements to $66 million of Annual Base Rent (“ABR”) from signed leases.

• Expanded ABR contribution from grocery-anchored shopping centers to a new record level of 86%.

• Sold a freestanding, single-tenant Home Depot-anchored property in Santa Ana, California for $49.5 million.

“Our FFO per share growth reflects both the strength of our high-quality portfolio and our best-in-class platform and leasing team,” said Kimco CEO Conor Flynn. “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.”

Financial Results

Net income for the second quarter of 2025 was $155.4 million, or $0.23 per diluted share, compared to $111.8 million, or $0.17 per diluted share, for the second quarter of 2024. This 35% increase is primarily attributable to:

• $24.7 million growth in consolidated revenues from rental properties, net, mainly due to $14.4 million in higher minimum rent and $4.2 million in increased reimbursement income.

• $31.4 million in higher gains on sales of properties, net of impairments.

• $7.3 million increase in mortgage and other financing income, net, primarily attributable to an increase in the size of Kimco’s Structured Investment Program.

This growth was partially offset by:

• $8.2 million in increased depreciation and amortization expense.

• $7.9 million in increased interest expense.

*Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.

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500 North Broadway, Suite 201 | Jericho, NY 11753 | (833) 800-4343 kimcorealty.com

FFO was $297.6 million, or $0.44 per diluted share, for the second quarter of 2025, compared to $276.0 million, or $0.41 per diluted share, for the second quarter of 2024, representing a per share increase of 7.3%.

Operating Results

• Signed 506 leases totaling 2.7 million square feet during the second quarter, generating blended pro-rata cash rent spreads on comparable spaces of 15.2%, with new leases up 33.8% and renewals and options growing 9.6%.

• Pro-rata leased occupancy ended the quarter at 95.4%. The 40 basis point sequential decline was primarily driven by a 66 basis point impact from the anticipated vacates of the remaining JOANN and Party City leases, partially offset by strong leasing activity.

• Small shop occupancy increased 50 basis points both sequentially and year-over-year to 92.2%, representing a new all-time company record, surpassing the previous high by 40 basis points.

• Pro-rata anchor occupancy concluded the quarter at 96.7%.

• Generated 3.1% growth in Same Property NOI in the second quarter over the same period a year ago, primarily driven by a 2.7% increase in minimum rents.

• The spread between the company’s pro-rata leased rate versus economic occupancy level was 310 basis points, a 20-basis-point sequential increase, equating to $66 million in future ABR from leases that have been signed and have not yet commenced.

Transactional Activities

• Completed the sale of a freestanding, Home Depot-anchored property in Santa Ana, California for $49.5 million, generating a gain of $38.4 million. The company plans to utilize the proceeds in a 1031 exchange towards the acquisition of a grocery-anchored

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Exhibit 99.1

Kimco Realty® Announces First Quarter 2025 Results

– Raises 2025 Outlook on Robust Growth in Net Income and FFO –

– Same Property NOI Increased 3.9%; Credit Loss Better than Expected –

– Leased Over Four Million Square Feet; New Lease Spreads Approach 49% –

– Achieves Strategic Target: 85% of Annual Base Rent from Grocery-Anchored Portfolio –

JERICHO, New York, May 1, 2025 - Kimco Realty® (NYSE: KIM), a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States, today reported results for the first quarter ended March 31, 2025. For the three months ended March 31, 2025 and 2024, Net income/(loss) available to the company’s common shareholders per diluted share was $0.18 and ($0.03), respectively.

Highlights

• 12.8% growth in Funds From Operations* (“FFO”) per diluted share over the same period in 2024 to $0.44.

• Produced a 3.9% increase in Same Property Net Operating Income* (“NOI”) over the same period a year ago.

• Generated pro-rata cash rent spreads of 48.7% on comparable new leases, marking the highest quarterly level in over seven years.

• Completed nine grocery leases, including a five-site package agreement with Sprouts Farmers Market, enabling the company to achieve its target of 85% of annual base rent (“ABR”) derived from grocery-anchored centers.

• Expanded pipeline of near-term rent commencements to $60 million of ABR from leases that have been signed.

• Acquired The Markets at Town Center, a 254,000-square-foot premier grocery-anchored property in Jacksonville, Florida for $108 million.

• Moody’s affirmed Baa1 senior unsecured debt rating and raised its outlook to positive.

• Subsequent to quarter end, repurchased 3.0 million common shares at an average price of $19.61 per share.

“We are very encouraged by our strong start to 2025, driven by robust leasing demand, accelerated rent commencements, and better-than-expected tenant credit performance, all of which contributed meaningfully to the solid growth in our net operating income and FFO,” said Kimco CEO Conor Flynn. “We leveraged Kimco’s scale and relationship advantage to successfully finalize multi-pack leasing agreements, including Sprouts Farmers Market. This enhances our visibility into future cash flow growth and expands our pipeline of near-term rent commencements. The resilience of our high-quality, grocery-anchored portfolio, rooted in necessity-based, essential goods and services, combined with the security of our long-term leases with strong credit tenants, reinforces our confidence in raising our outlook for 2025.”

Financial Results

Net income/(loss) available to the company’s common shareholders for the first quarter of 2025 was $125.1 million, or $0.18 per diluted share, compared to ($18.9) million, or ($0.03) per diluted share, for the first quarter of 2024. This increase is primarily attributable to:

• $32.4 million growth in consolidated revenues from rental properties, net, mainly due to $13.2 million in higher minimum rent and $13.6 million in increased reimbursement income. This growth was partially offset by $6.6 million in higher real estate taxes and $3.8 million in additional operating and maintenance expenses for the first quarter of 2025 over the comparable period in the prior year.

• $71.5 million in provision for income taxes, net, and $27.7 million loss on marketable securities, net, related to the sale of shares of Albertsons Companies Inc. (NYSE: ACI) common stock in the first quarter of 2024, that did not repeat in 2025.

• $25.2 million of merger charges related to the acquisition of RPT Realty ("RPT") in 2024 that did not repeat in 2025.

*Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.

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500 North Broadway, Suite 201 | Jericho, NY 11753 | (833) 800-4343 kimcorealty.com

• $8.8 million increase in mortgage and other financing income, net, attributable to an increase in Kimco’s Structured Investment Program year over year.

FFO was $301.9 million, or $0.44 per diluted share, for the first quarter of 2025, compared to $261.8 million, or $0.39 per diluted share, for the first quarter of 2024, representing a per share increase of 12.8%.

Operating Results

• Signed 583 leases totaling 4.4 million square feet during the first quarter, generating blended pro-rata cash rent spreads on comparable spaces of 13.3%, with new leases up 48.7% and renewals and options growing 8.7%.

• Pro-rata leased occupancy ended the quarter at 95.8%, reflecting an anticipated sequential and year-over-year reduction of 50 basis points and 20 basis points, respectively. The change in occupancy was due to vacating leases including: 32 Party City, 6 Big Lots and an undersized Walmart, partially offse

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Exhibit 99.1

Kimco Realty® Announces Fourth Quarter and Full Year 2024 Results

– Achieves High End of Full Year Outlook with Strong Fourth Quarter Growth in Net Income and FFO –

– Leased Over 11 Million Square Feet in 2024 –

– Company Provides Initial 2025 Outlook –

JERICHO, New York, February 7, 2025 - Kimco Realty® (NYSE: KIM), a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States, today reported results for the fourth quarter and full year ended December 31, 2024. For the three months ended December 31, 2024 and 2023, Kimco’s Net income available to the company’s common shareholders (“Net income”) per diluted share was $0.23 and $0.22, respectively. For the full year 2024 and 2023, Net income per diluted share was $0.55 and $1.02, respectively.

Fourth Quarter Highlights

• Grew Funds From Operations* (“FFO”) 7.7% over the same period in 2023 to $0.42 per diluted share.

• Produced 4.5% growth in Same Property Net Operating Income* (“NOI”) over the same period a year ago.

• Achieved pro-rata portfolio occupancy of 96.3%, up 10 basis points year-over-year.

• Reported pro-rata anchor occupancy of 98.2%, up 20 basis points year-over-year.

• Generated pro-rata cash rent spreads of 35.4% on comparable new leases.

• Purchased Waterford Lakes Town Center, a 976,000-square-foot signature asset spanning 79 acres in Orlando, Florida, for $322 million.

• Raised $136.3 million of net proceeds from the sale of 5.4 million shares of common stock at an average price per share of $25.07 through the at-the-market ("ATM") equity offering program.

• Subsequently, in January of 2025:

o Acquired Markets at Town Center, a 254,000-square-foot premier asset in Jacksonville, Florida, for $108 million.

o Moody’s affirmed the company’s Baa1 senior unsecured debt rating and changed its outlook to positive.

"Our fourth quarter and full-year results capped another remarkable year for Kimco, as we reached the high end of our 2024 outlook, driven by the successful integration of the RPT acquisition and strong leasing results that led to significant growth in net operating income and FFO," said Kimco CEO Conor Flynn. "We remain well-positioned to sustain our strong operating performance with our portfolio of high-quality, grocery-anchored centers that provide essential goods and services in core markets with high barriers to entry and limited new supply. Coupled with our disciplined capital allocation and motivated team, we will continue to drive value creation for our shareholders."

Financial Results

Fourth Quarter 2024

Net income for the fourth quarter of 2024 was $154.8 million, or $0.23 per diluted share, compared to $133.4 million, or $0.22 per diluted share, for the fourth quarter of 2023. This 4.5% increase per diluted share is primarily attributable to:

• The acquisition of RPT Realty (“RPT”), which was the main driver of growth in consolidated revenues from rental properties, net, of $73.2 million, partially offset by higher real estate taxes of $8.6 million, operating and maintenance expenses of $14.6 million, as well as increased depreciation and amortization expense of $31.8 million.

• $46.8 million in increased benefit for income taxes, net, due to a reduction in the tax provision related to the sale of Albertsons Companies Inc. (NYSE: ACI) shares.

*Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.

i

500 North Broadway, Suite 201 | Jericho, NY 11753 | (833) 800-4343 kimcorealty.com

Additional notable items impacting the year-over-year change include:

• $15.9 million increased interest expense in 2024 due to higher levels of outstanding debt compared to the fourth quarter of 2023 attributable to the RPT acquisition, which closed in the first quarter of 2024, and the issuance of $500 million of 4.850% senior unsecured notes in the third quarter of 2024.

• $22.3 million lower gain on sales of properties due to lower disposition activity during the fourth quarter of 2024 compared to the fourth quarter of 2023.

FFO was $286.9 million, or $0.42 per diluted share, for the fourth quarter of 2024, compared to $239.4 million, or $0.39 per diluted share, for the fourth quarter of 2023, representing a per share increase of 7.7%. The company excludes from FFO all realized or unrealized marketable securities/derivatives gains, losses and applicable taxes, as well as gains and losses from the sales of properties, depreciation and amortization related to real estate, profit participations from other investments, and other items considered incidental to the company’s business.

Full Year 2024

Net income was $375.7 million, or $0.55 per diluted share, compared to $629.3 million, or $1.02 per diluted share,

EX-99.1

2 kim-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Kimco Realty® Announces Second Quarter 2024 Results

– Strong Operating Performance Drives Growth in Net Income and FFO –

– Small Shop Occupancy Matches Record High –

– Raises 2024 Outlook –

JERICHO, New York, August 1, 2024 - Kimco Realty® (NYSE: KIM), a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States, today reported results for the second quarter ended June 30, 2024. For the three months ended June 30, 2024 and 2023, Kimco Realty’s net income available to the company’s common shareholders per diluted share was $0.17 and $0.16, respectively.

Second Quarter Highlights

• Grew Funds From Operations* (FFO) 5.1% over the same period in 2023 to $0.41 per diluted share.

• Generated 3.0% growth in Same Property Net Operating Income* (NOI) over the same period a year ago.

• Expanded pro-rata portfolio occupancy to 96.2%, up 20 basis points sequentially and 40 basis points year-over-year.

• Increased pro-rata small shop occupancy to 91.7%, up 20 basis points sequentially and matching the all-time company record.

• Leased 2.3 million square feet, generating blended pro-rata cash rent spreads on comparable spaces, including renewals and options, of 11.7%.

• Generated pro-rata cash rent spreads of 26.3% on 144 comparable new leases.

• Invested $168.0 million under the company’s Structured Investment Program.

• Published 11th annual Corporate Responsibility Report, demonstrating ongoing commitment to stakeholders through both actions and results.

“Our ability to report strong growth reflects the quality of our open air, grocery-anchored portfolio and further validates our investment thesis for the RPT acquisition,” said Conor Flynn, CEO of Kimco. “We see these positive trends continuing, and with $63 million of future cash flow from signed leases that have yet to commence paying rent, we are comfortable raising our full year outlook. With a resilient portfolio and best in class team, we remain committed to increasing shareholder value.”

Financial Results

Net income available to the company’s common shareholders (“Net income”) for the second quarter of 2024 was $111.8 million, or $0.17 per diluted share, compared to $100.4 million, or $0.16 per diluted share, for the second quarter of 2023, representing a 6.3% increase per diluted share, primarily attributable to:

• The acquisition of RPT Realty (“RPT”), which was the primary driver of the growth in consolidated revenues from rental properties, net, of $57.2 million, partially offset by higher real estate taxes of $8.6 million and operating and maintenance expenses of $12.7 million, as well as increased depreciation and amortization expense of $18.9 million.

• A $30.8 million reduction in provision for income taxes, primarily due to tax gains associated with the sale of Albertsons Companies Inc. ("ACI") common stock during 2023.

Other notable items impacting the year-over-year change:

• $14.6 million lower gains on marketable securities in 2024 due to the sale of ACI common stock during 2023.

• $13.3 million lower gains on sales of properties, net of impairments in 2024.

• $12.7 million in increased interest expense, mainly due to higher outstanding debt associated with the acquisition of RPT and the issuance of $500 million of senior unsecured notes with a 6.400% coupon in the fourth quarter of 2023, partially offset by the repayment of unsecured notes that matured in 2024.

*Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.

i

500 North Broadway, Suite 201 | Jericho, NY 11753 | (833) 800-4343 kimcorealty.com

FFO was $276.0 million, or $0.41 per diluted share, for the second quarter of 2024, compared to $243.9 million, or $0.39 per diluted share, for the second quarter 2023. The company excludes from FFO all realized or unrealized marketable securities gains and losses as well as gains and losses from the sales of certain real estate assets, depreciation and amortization related to real estate, profit participations from other investments, and other items considered incidental to the company’s business.

Operating Results

• Signed 482 leases totaling 2.3 million square feet, generating blended pro-rata cash rent spreads on comparable spaces of 11.7%, with new leases up 26.3% and renewals and options growing 9.0%.

• Grew pro-rata portfolio occupancy to 96.2%, representing an increase of 20 basis points sequentially and 40 basis points year-over-year.

• Elevated pro-rata anchor occupancy to 98.1%, an increase of 30 basis points sequentially and 40 basis points year-over-year.

• Expanded pro-rata small shop occupancy to match the all-time high of 91.7%, an increase of 20 basis points sequentially and 70 basis p

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) May 2, 2024

KIMCO REALTY CORPORATION

KIMCO REALTY OP, LLC

(Exact Name of registrant as specified in its charter)

Maryland (Kimco Realty Corporation)

1-10899

13-2744380

Delaware (Kimco Realty OP, LLC)

333-269102-01

92-1489725

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

500 N. Broadway

Suite 201

Jericho, NY 11753

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (516) 869-9000

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Kimco Realty Corporation

Title of each class

Trading

Name of each exchange on

Symbol(s)

which registered

Common Stock, par value $.01 per share.

KIM

New York Stock Exchange

Depositary Shares, each representing one one-thousandth of a share of 5.125% Class L Cumulative Redeemable, Preferred Stock, $1.00 par value per share.

KIMprL

New York Stock Exchange

Depositary Shares, each representing one one-thousandth of a share of 5.250% Class M Cumulative Redeemable, Preferred Stock, $1.00 par value per share.

KIMprM

New York Stock Exchange

Depositary Shares, each representing one one-thousandth of a share of 7.250% Class N Cumulative Redeemable, Preferred Stock, $1.00 par value per share.

KIMprN

New York Stock Exchange

Kimco Realty OP, LLC

Title of each class

Trading

Name of each exchange on

Symbol(s)

which registered

None

N/A

N/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

Kimco Realty Corporation Yes ☐ No ☒                                  Kimco Realty OP, LLC Yes ☐ No ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Kimco Realty Corporation ☐                                                   Kimco Realty OP, LLC ☐

Item 2.02. Results of Operations and Financial Condition.

On May 2, 2024, Kimco Realty Corporation (the “Company”) issued a press release announcing its financial results for the quarter ended March 31, 2024. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Item 2.02 and in Exhibit 99.1 is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended. The information in this Item 2.02 and in Exhibit 99.1 shall not be deemed to be incorporated by reference into any filing of the Company whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1

Press Release, dated May 2, 2024 issued by Kimco Realty Corporation

104

Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

Date: May 2, 2024

KIMCO REALTY CORPORATION

By:

/s/ Glenn G. Cohen

Na

EX-99.1

2 a53893598ex99_1.htm

EXHIBIT 99.1

Exhibit 99.1

Kimco Realty® Announces Fourth Quarter and Full Year 2023 Results

– Leasing Demand Accelerates; Largest Sequential Quarterly Occupancy Gain in Over 15 Years –

– Small Shop Occupancy Reaches Record High –

– Company Provides Initial 2024 Outlook –

JERICHO, N.Y.--(BUSINESS WIRE)--February 8, 2024--Kimco Realty® (NYSE: KIM), North America’s largest publicly listed owner and operator of open-air, grocery-anchored shopping centers and a growing portfolio of mixed-use assets, today reported results for the fourth quarter and full year ended December 31, 2023. For the three months ended December 31, 2023 and 2022, Kimco’s Net income/(loss) available to the company’s common shareholders per diluted share was $0.22 and ($0.09), respectively. For full year 2023 and 2022, Net income available to the company’s common shareholders per diluted share was $1.02 and $0.16, respectively.

Fourth Quarter Highlights

Reported Funds From Operations* (FFO) of $0.39 per diluted share.

Achieved pro-rata portfolio occupancy of 96.2%, representing a 70-basis-point sequential increase, the largest in over 15 years.

Increased pro-rata occupancy for anchors to 98.0% and small shop to an all-time company record of 91.7%.

Signed 1.0 million square feet of new leases, which is the highest quarterly level in over 10 years.

Generated pro-rata cash rent spreads for new leases of 24.0% on comparable spaces, including four former Bed Bath & Beyond spaces with a blended, pro-rata rent increase of 57%.

Produced 3.2% growth in Same-Property Net Operating Income* (NOI) over the same period a year ago.

Subsequent to quarter end, completed the acquisition of RPT Realty (”RPT”) in January 2024.

“We ended the year with strong results, including leasing an impressive 2.7 million square feet, and achieving positive net absorption and double-digit leasing spreads for the quarter,” said Kimco CEO Conor Flynn. “The lack of new supply and continued strong demand for our high-quality, grocery-anchored, and mixed-use portfolio bodes well for 2024. And with the completion of the RPT acquisition, our best-in-class team is already working to unlock additional growth and long-term value for our shareholders.”

*Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.

Financial Results

Fourth Quarter 2023

Net income available to the company’s common shareholders was $133.4 million, or $0.22 per diluted share, compared to Net (loss) available to the company’s common shareholders of ($56.1) million, or ($0.09) per diluted share, for the fourth quarter of 2022. Included in the year-over-year change was a $103.9 million benefit from mark-to-market gains on marketable securities, net, primarily stemming from a change in the value of Albertsons Companies, Inc. (NYSE: ACI) common stock held by the company, as well as a $57.9 million decrease in provision for income taxes, net, primarily related to capital gains from the monetization of 11.5 million shares of ACI during the fourth quarter of 2022.

FFO was $239.4 million, or $0.39 per diluted share, compared to $234.9 million, or $0.38 per diluted share, for the fourth quarter of 2022. FFO for the fourth quarter of 2023 included $1.0 million of merger-related charges. The company excludes from FFO all realized or unrealized marketable securities gains and losses. Also excluded from FFO are gains and losses from the sale of operating properties, real estate-related depreciation, profit participations from other investments, and other items considered incidental to the company’s operating business.

Full Year 2023

Net income available to the company’s common shareholders was $629.3 million, or $1.02 per diluted share, compared to $100.8 million, or $0.16 per diluted share, for the full year 2022. The year-over-year increase included a $336.8 million benefit from mark-to-market gains on marketable securities, net, primarily stemming from an increase in the value of ACI common stock held by the company and a special cash dividend of $194.1 million received from ACI in 2023.

FFO was $970.0 million, or $1.57 per diluted share, compared to $976.4 million, or $1.58 per diluted share, for the full year 2022.

Fourth Quarter Operating Results

Executed 480 leases totaling 2.7 million square feet, generating blended pro-rata cash rent spreads on comparable spaces of 11.2%, with spreads for new leases up 24.0% and renewals and options growing 7.8%.

Pro-rata portfolio occupancy ended the quarter at 96.2%, an increase of 50 basis points year-over-year and up 70 basis points sequentially.

Pro-rata anchor occupancy ended the quarter at 98.0%, flat year-over-year and up 80 basis points sequentially. The sequential increase represents the largest quarterly gain in over a decade.

Pro-rata small shop occupancy reached 91.7%, up 170 basis points year-over-year and an increase of 60 ba

EX-99.1

2 a53692349_ex991.htm

EXHIBIT 99.1

Exhibit 99.1

Kimco Realty® Announces Third Quarter 2023 Results

– Leased 2.1 Million Square Feet with Double-Digit Leasing Spreads –

– Board Raises Quarterly Cash Dividend on Common Shares by 4.3% –

– Raises 2023 Guidance Range –

JERICHO, N.Y.--(BUSINESS WIRE)--October 26, 2023--Kimco Realty® (NYSE: KIM), North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers and a growing portfolio of mixed-use assets, today reported results for the third quarter ended September 30, 2023. For the three months ended September 30, 2023 and 2022, Kimco Realty’s net income available to the company’s common shareholders per diluted share was $0.18 and $0.08, respectively.

Third Quarter Highlights

Produced Funds From Operations* (FFO) of $0.40 per diluted share.

Achieved pro-rata portfolio occupancy of 95.5%, which included an impact of 37 basis points due to vacating the last remaining leases with Bed Bath & Beyond.

Pro-rata small shop occupancy expanded 10 basis points sequentially and 190 basis points year-over-year to 91.1%, matching the company’s all-time high.

Leased 2.1 million square feet generating blended pro-rata rent spreads on comparable spaces, including renewals and options, of 13.4%, the highest level of combined leasing spreads in six years.

Generated pro-rata cash rent spreads of 34.9% for new leases on comparable spaces, including seven former Bed Bath & Beyond leases with a blended, pro-rata rent increase of 54%.

Produced 2.6% growth in Same-Property Net Operating Income* (NOI) over the same period a year ago.

Agreed to the all-stock acquisition of RPT Realty (RPT), which is expected to be accretive to FFO, leverage neutral and to increase Kimco’s size and scale in target markets and provide embedded growth opportunities.

Acquired Stonebridge at Potomac Town Center, a 96%-occupied, 504,000-square-foot, grocery-anchored lifestyle center in Woodbridge, Virginia, for $172.5 million.

Subsequent to quarter end, issued $500 million of senior unsecured notes with a 6.400% coupon that mature in 2034.

*Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.

“With virtually no new supply and strong demand from a multitude of tenants, buoyed by a resilient consumer, we continue to produce strong operating results capped off by the 2.1 million square feet leased during the quarter with positive double-digit leasing spreads highlighting our portfolio’s pricing power,” stated Kimco CEO, Conor Flynn. “We also continue to prioritize the de-risking of our balance sheet by partially prefunding our upcoming 2024 debt maturities with the issuance of $500 million of senior unsecured notes due in 2034. Our significant $2.4 billion liquidity position, including over $400 million of cash on the balance sheet, as well as shares of Albertsons valued at over $300 million at quarter end, we expect will enable us to effectively navigate the macroeconomic headwinds and further reinforces our position as the country’s premier owner and operator of open-air, grocery-anchored shopping centers and mixed-use assets.”

Financial Results

Net income available to the company’s common shareholders for the third quarter of 2023 was $112.0 million, or $0.18 per diluted share, compared to $51.6 million, or $0.08 per diluted share, for the third quarter of 2022. Included in the year-over-year change was an $88.7 million benefit from mark-to-market gains on marketable securities, primarily stemming from a change in the value of Albertsons Companies, Inc. (NYSE: ACI) common stock held by the company. Partially offsetting this benefit was an $8.0 million increase in interest expense, primarily due to a reduction of the fair market value amortization of Weingarten Realty Investors (WRI) bonds compared to the third quarter of 2022. Other notable factors impacting the year-over-year change were $10.1 million lower Equity in income of joint ventures, net, and $4.6 million less Equity in income of other investments, net, which was primarily due to lower gains on sales and profit participations, respectively. Net income available to the company’s common shareholders for the third quarter of 2023 also included $3.8 million of charges related to the pending merger with RPT, and $4.8 million of income, net, related to the liquidation of the former WRI pension plan.

FFO was $248.6 million, or $0.40 per diluted share, for the third quarter of 2023, compared to $254.5 million, or $0.41 per diluted share, for the third quarter 2022. The company excludes from FFO all realized or unrealized marketable securities gains and losses, including those related to its investment in ACI. Also excluded from FFO are gains and losses from the sale of operating properties, real estate-related depreciation, profit participations from other investments, and other items considered incident

EX-99.1

2 a53485336ex99_1.htm

EXHIBIT 99.1

Exhibit 99.1

Kimco Realty® Announces Second Quarter 2023 Results

– Leasing Results Propelled by Robust Demand and Strong Absorption Opportunities –

– Further Expands Liquidity with Ongoing Monetization of Albertsons Investment –

– Board Declares Dividends and Expects to Announce Special Dividend to Shareholders by Year End –

– Updates 2023 Outlook –

JERICHO, N.Y.--(BUSINESS WIRE)--July 27, 2023--Kimco Realty® (NYSE: KIM), North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers and a growing portfolio of mixed-use assets, today reported results for the second quarter ended June 30, 2023. For the three months ended June 30, 2023 and 2022, Kimco Realty’s net income/(loss) available to the company’s common shareholders per diluted share was $0.16 and ($0.21), respectively.

Second Quarter Highlights

Produced Funds From Operations* (FFO) of $0.39 per diluted share.

Increased pro-rata portfolio occupancy 70 basis points year-over-year to 95.8%.

Grew pro-rata small shop occupancy 30 basis points sequentially to 91.0%, representing an increase of 180 basis points year-over-year.

Generated pro-rata cash rent spreads of 25.3% for new leases on comparable spaces, including four former Bed Bath & Beyond (Nasdaq: BBBY) leases with a blended rent increase of 31%.

Produced 2.3% growth in Same-Property Net Operating Income* (NOI) over the same period a year ago.

Generated $144.9 million in proceeds from the sale of 7.0 million shares of Albertsons Companies, Inc. (NYSE: ACI).

Published 10th annual Corporate Responsibility Report detailing ESG performance.

*Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.

“Our results demonstrate the strength of our operating platform with the strong execution on backfilling vacancies in an accretive manner at meaningful rental spreads that will drive cashflow. It is a true testament to the quality of our portfolio and dedicated leasing team,” stated Kimco CEO Conor Flynn. “Further, with over $500 million of cash on hand from the ongoing monetization of our Albertsons stock, we also have a unique advantage to quickly execute on external growth opportunities as well as further reduce leverage in our continuous effort to maximize results for all of our stakeholders. This includes the returning of capital to shareholders in the form of a one-time special dividend, expected to be announced and paid by year end.”

Financial Results

Net income available to the company’s common shareholders for the second quarter of 2023 was $100.4 million, or $0.16 per diluted share, for the second quarter of 2023, compared to Net (loss) available to the company’s common shareholders of ($125.8) million, or ($0.21) per diluted share, for the second quarter of 2022. Included in the change was a $276.0 million benefit from mark-to-market gains on marketable securities, primarily stemming from a change in the value of ACI common stock held by the company. Partially offsetting this benefit was a $30.9 million increase in provision for income taxes, net, mainly attributable to the capital gains from the monetization of 7.0 million shares of ACI during the second quarter of 2023, and a $27.0 million reduction in Equity in income of joint ventures, net, primarily due to a lower level of gains on sales of properties during the second quarter of 2023, compared to the second quarter of 2022.

FFO was $243.9 million, or $0.39 per diluted share, for the second quarter of 2023, compared to $246.4 million, or $0.40 per diluted share, for the second quarter 2022. The company excludes from FFO all realized or unrealized marketable securities gains and losses as well as any income tax implications, including those related to its investment in ACI. Also excluded from FFO are gains and losses from the sale of operating properties, real estate-related depreciation, and profit participations from other investments.

Operating Results

Executed 485 leases totaling 2.7 million square feet, generating blended pro-rata rent spreads on comparable spaces of 9.9%, with pro-rata rental rates for new leases up 25.3% and renewals and options growing 7.6%.

Pro-rata portfolio occupancy ended the quarter at 95.8%, which was flat sequentially and an increase of 70 basis points year-over-year. This includes the impact of vacating 8 BBBY and 11 Tuesday Morning spaces during the second quarter of 2023 which reduced occupancy by approximately 25 basis points.

Pro-rata small shop occupancy expanded 30 basis points sequentially and 180 basis points year-over-year to 91.0%, which is 10 basis points below the company’s all-time high.

Pro-rata anchor occupancy ended the quarter at 97.7%, representing an increase of 10 basis points year-over-year.

Reported a 300-basis-point spread between leased (reported) occupancy versus economic occupancy at the end o

EX-99.1

2 a53388609_ex991.htm

EXHIBIT 99.1

Exhibit 99.1

Kimco Realty® Announces First Quarter 2023 Results

– Strong Leasing Volume Drives Growth in Occupancy and Leasing Spreads –

– Lowers Leverage with Ongoing Monetization of Albertsons Investment –

– Board Declares Quarterly Dividend –

– Updates 2023 Outlook –

JERICHO, N.Y.--(BUSINESS WIRE)--April 27, 2023--Kimco Realty® (NYSE: KIM), North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, including mixed-use assets, today reported results for the first quarter ended March 31, 2023. For the three months ended March 31, 2023, and 2022, Kimco Realty’s net income available to the company’s common shareholders was $0.46 per diluted share and $0.37 per diluted share, respectively.

First Quarter Highlights

Reported Funds From Operations* (FFO) of $0.39 per diluted share.

Leased a total of 4.5 million square feet including 3.7 million square feet of renewals and option exercises.

Increased pro-rata portfolio occupancy 110 basis points year-over-year to 95.8%.

Grew small shop occupancy 70 basis points sequentially to 90.7%.

Generated pro-rata cash rent spreads of 44.0% for new leases on comparable spaces, representing the highest new lease spread in the past five years.

Produced 1.4% growth in Same-Property Net Operating Income* (NOI) over the same period a year ago.

Received a $194.1 million special dividend from Albertsons Companies (NYSE: ACI) related to the 28.3 million shares the company held.

Generated $137.4 million in proceeds on the sale of 7.1 million shares of ACI.

Subsequent to quarter end, received $144.9 million in net proceeds on sale of 7.0 million shares of ACI.

*Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.

“Our team continues to drive strong leasing performance, with the 4.5 million square feet leased this quarter further validating the demand for our well-located, high-quality portfolio of open-air, grocery-anchored shopping centers in the most coveted locations across the country,” stated Kimco CEO Conor Flynn. “Furthermore, we could not be more excited about our ability to extract meaningful value from our long-term investment in Albertsons. The combination of strong cash flow from our operating portfolio and the cash coming from the monetization of Albertsons has resulted in further reduction in leverage levels to support future growth opportunities. With our first-ring suburban portfolio surrounding the top major metropolitan markets, we are well-equipped to keep driving value for our stockholders.”

Financial Results

Net income available to the company’s common shareholders for the first quarter of 2023 was $283.5 million, or $0.46 per diluted share, compared to $230.9 million, or $0.37 per diluted share, for the first quarter of 2022. The year-over-year change is primarily attributable to a $194.1 million ACI special dividend. This was offset by a $131.9 million mark-to-market reduction on marketable securities, primarily stemming from a change in the value of ACI common stock held by the company, as well as a $31.0 million increase in provision for income taxes, net, primarily due to the capital gains from the monetization of 7.1 million shares of ACI during the first quarter of 2023. Other items impacting the year-over-year change included $23.5 million in higher gains on sale of consolidated properties, net of impairments, during the first quarter of 2023.

FFO was $238.1 million, or $0.39 per diluted share, for the first quarter of 2023, compared to $240.6 million, or $0.39 per diluted share, for the first quarter 2022. The company excludes from FFO all gains and losses, whether realized or unrealized, related to its investment in ACI, as well as gains and losses from the sale of operating properties, real estate-related depreciation, and profit participations from other investments. Special dividends are also excluded from FFO.

Operating Results

Signed 600 leases totaling 4.5 million square feet, generating blended pro-rata rent spreads on comparable spaces of 10.3%, with pro-rata rental rates for new leases up 44.0% and renewals and options growing 7.7%.

Reported a 280-basis-point spread between leased (reported) occupancy versus economic occupancy at the end of the first quarter, representing approximately $46 million in annual base rent.

Pro-rata portfolio occupancy rose 10 basis points sequentially and 110 basis points year over year to 95.8%.

Ended the quarter with pro-rata anchor occupancy of 97.8% and small shop occupancy of 90.7%, representing year-over-year increases of 50 basis points and 230 basis points, respectively.

Produced 1.4% growth in Same-Property NOI over the same period a year ago, driven by a 4.3% increase in minimum rent.

Investment Activities

Acquired the remaining 85% interest in three California grocery-anchored shopping centers for a

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EXHIBIT 99.1

Exhibit 99.1

Kimco Realty® Announces Fourth Quarter and Full Year 2022 Results

– Achieved Highest Year-over-Year Occupancy Rate Increase in the Past Fifteen Years –

– Leased 2.5 Million Square Feet in the Fourth Quarter and 11.6 Million Square Feet in 2022 –

– Board Declares Quarterly Dividend –

– Company Provides Initial 2023 Outlook –

JERICHO, N.Y.--(BUSINESS WIRE)--February 9, 2023--Kimco Realty® (NYSE: KIM), North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, and a growing portfolio of mixed-use assets, today reported results for the fourth quarter and full year ended December 31, 2022. Kimco's Net (loss) available to the company's common shareholders for the fourth quarter of 2022 was ($56.1) million, or ($0.09) per diluted share, compared to Net income available to the company's common shareholders of $75.3 million, or $0.13 per diluted share, for the fourth quarter of 2021.

Fourth Quarter Highlights:

Produced Funds From Operations* (FFO) of $0.38 per diluted share.

Grew pro-rata portfolio occupancy 130 basis points to 95.7%, representing one of the largest year-over-year occupancy gains in company history.

Sequentially increased pro-rata anchor occupancy 20 basis points to 98.0% and small shop occupancy 80 basis points to 90.0%.

Generated pro-rata cash rent spreads of 30.4% for new leases on comparable spaces.

Produced 1.9% growth in Same-Property Net Operating Income* (NOI) over the same period a year ago.

Realized net proceeds of approximately $301.1 million from the sale of 11.5 million shares of Albertsons Companies, Inc. (NYSE: ACI).

Subsequent to quarter end, received $194.1 million as a special dividend payment from ACI related to the remaining 28.3 million ACI shares owned.

“We ended 2022 with strong occupancy gains driven by our team’s outstanding leasing execution, with over 2.5 million square feet leased in the quarter and 11.6 million square feet for the year, making it one of our best years on record,” commented Kimco CEO Conor Flynn. “Furthermore, our ability to opportunistically unlock value is showcased by the recent partial monetization of our investment in Albertsons, with proceeds of over $300 million that will support future growth. With our significant liquidity and flexibility, we are confident that our high-quality, grocery-anchored, last-mile-focused portfolio positions Kimco to continue its solid performance in the coming year and beyond as we seek to build long-term shareholder value.”

Financial Results:

Net (loss) available to the company’s common shareholders for the fourth quarter of 2022 was ($56.1) million, or ($0.09) per diluted share, compared to Net income available to the company’s common shareholders of $75.3 million, or $0.13 per diluted share, for the fourth quarter of 2021. The year-over-year change is primarily attributable to a $63.0 million mark-to-market reduction on marketable securities primarily stemming from a change in the value of ACI common stock held by the company, as well as a $57.3 million increase in provision for income taxes, net, primarily related to capital gains from the monetization of 11.5 million shares of ACI during the fourth quarter of 2022.

FFO was $234.9 million, or $0.38 per diluted share, for the fourth quarter of 2022 compared to $240.1 million, or $0.39 per diluted share, for the fourth quarter 2021. The company excludes from FFO all gains and losses, whether realized or unrealized, related to its investment in ACI, as well as gains and losses from the sale of operating properties, real estate-related depreciation, and profit participations from other investments.

*Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.

Full Year 2022

Net income available to the company’s common shareholders was $100.8 million, or $0.16 per diluted share, for the full year 2022 compared to $818.6 million, or $1.60 per diluted share, for the full year 2021. The year-over-year decrease was primarily attributable to a change in the value of ACI common stock held by the company as well as an increase in provision for income taxes, net, primarily related to capital gains from the monetization of 11.5 million shares of ACI during the fourth quarter of 2022.

FFO was $976.4 million, or $1.58 per diluted share, for the full year 2022 compared to $706.8 million, or $1.38 per diluted share, for the full year 2021. The year-over-year increase in FFO was primarily attributable to having a full year contribution from the acquisition of Weingarten Realty Investors (Weingarten) that closed in August of 2021. FFO for 2021 also included approximately $0.09 per diluted share of net merger-related costs and pension valuation adjustments associated with the acquisition of Weingarten.

Operating Results:

Pro-rata portfolio occupancy ended the quarter at 95.7%, wit

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EXHIBIT 99.1

Exhibit 99.1

Kimco Realty® Announces Third Quarter 2022 Results

– Positive Operating Results Driven by Continued Strong Tenant Demand –

– Company Raises 2022 Outlook –

– Board Raises Quarterly Common Dividend for the Fourth Consecutive Quarter –

JERICHO, N.Y.--(BUSINESS WIRE)--October 27, 2022--Kimco Realty® (NYSE: KIM), North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, including mixed-use assets, today reported results for the third quarter ended September 30, 2022. For the three months ended September 30, 2022 and 2021, Kimco’s net income available to the company’s common shareholders per diluted share was $0.08 and $0.91, respectively.

Third Quarter Highlights:

Produced Funds From Operations* (FFO) of $0.41 per diluted share, representing a 28.1% increase over the comparable period in 2021.

Grew pro-rata portfolio occupancy 20 basis points sequentially to 95.3%, representing an increase of 120 basis points year over year.

Increased pro-rata anchor and small shop occupancy 90 and 190 basis points, respectively, over the third quarter of 2021.

Generated pro-rata rent spreads of 16.5% for new leases on comparable spaces.

Produced a 3.1% increase in Same-Property Net Operating Income* (NOI) over the same period a year ago.

Achieved a Net Debt to EBITDA* ratio of 6.3x on a look-through basis (which includes company’s outstanding preferred stock and pro-rata share of joint venture debt), marking the lowest leverage level since the company began reporting this metric.

Subsequent to quarter end, generated net proceeds of approximately $301.1 million through the monetization of 11.5 million of its 39.8 million shares in Albertsons Companies, Inc. (NYSE: ACI). Kimco still retains 28.3 million shares of Albertsons.

Kimco CEO Conor Flynn stated, “We are encouraged by the ongoing strength of our business and the results that our team and our portfolio continue to produce. We believe our high-quality last mile locations, which are primarily grocery anchored, keep us well-positioned to outperform even during this period of macro-economic uncertainty. We’re confident that our financial strength and significant liquidity, bolstered by the recent monetization of a portion of our Albertsons investment, provide us unique advantages as we seek additional growth opportunities and continue to add value for all our stakeholders.”

Financial Results:

Net income available to the company’s common shareholders for the third quarter of 2022 was $51.6 million, or $0.08 per diluted share, compared to $501.4 million, or $0.91 per diluted share, for the third quarter of 2021. The year-over-year change is primarily attributable to a $532.6 million mark-to-market reduction on marketable securities mainly stemming from a change in the value of ACI common stock held by the company. Other items impacting the year-over-year change were due in part to the Weingarten merger in August of 2021, including $47.0 million in merger-related charges in 2021 as well as a $64.3 million increase in consolidated revenues from rental properties, partially offset by increases of $5.0 million in real estate taxes, $19.4 million in operating and maintenance expenses and $11.2 million in depreciation and amortization for the third quarter of 2022 over the comparable period in the prior year.

FFO was $254.5 million, or $0.41 per diluted share, for the third quarter 2022 compared to $173.7 million, or $0.32 per diluted share, for the third quarter 2021. Included in the third quarter of 2021 was $47.0 million, or $0.08 per diluted share, of merger related costs.

*Reconciliations of net income available to the company’s common shareholders to certain non-GAAP measures including FFO, Same-property NOI and Net Debt to EBITDA are provided in the tables accompanying this press release.

Operating Results:

Pro-rata portfolio occupancy ended the quarter at 95.3%, with anchor and small shop occupancy at 97.8% and 89.2%, respectively.

Signed 461 leases totaling 2.1 million square feet, generating blended pro-rata rent spreads on comparable spaces of 7.5%, and with rental rates for new leases up 16.5% and renewals and options growing 6.2%.

Reported a 280-basis-point spread between leased (reported) occupancy versus economic occupancy at the end of the third quarter, representing $45 million in annual base rent.

Produced 3.1% growth in Same-Property NOI over the same period a year ago, driven by a 4.8% increase in minimum rent.

Transaction Activities:

As previously announced, acquired two grocery-anchored centers located in the Fishtown neighborhood of Philadelphia and Massapequa, New York totaling 329,000 square feet for $89.0 million in aggregate. In addition, the company acquired the fee interest at Pike Center in Rockville, Maryland for a purchase price of $21.2 million.

Sold nine shopping centers and two land parcels totaling 1.2 million square fee

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EXHIBIT 99.1

Exhibit 99.1

Kimco Realty® Announces Second Quarter 2022 Results

– Solid Operating Results Reaffirm Robust Demand for Quality Open-Air Retail Space –

– Company Updates 2022 Outlook –

– Board Raises Quarterly Common Dividend Third Consecutive Quarter; Up 29% Over Prior Year –

JERICHO, N.Y.--(BUSINESS WIRE)--July 28, 2022--Kimco Realty® (NYSE: KIM), North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, including mixed-use assets, today reported results for the second quarter ended June 30, 2022. For the three months ended June 30, 2022 and 2021, Kimco’s net (loss)/income available to the company’s common shareholders per diluted share was ($0.21) and $0.25, respectively.

Second Quarter Highlights:

Produced Funds From Operations* (FFO) of $0.40 per diluted share, representing a 17.6% increase over the comparable period in 2021.

Grew pro-rata portfolio occupancy 40 basis points sequentially to 95.1%, representing an increase of 120 basis points year-over-year.

Increased pro-rata small shop occupancy 370 basis points over the second quarter of 2021, representing the largest year-over-year increase in over 10 years.

Generated pro-rata leasing spreads of 16.6% for new leases on comparable spaces.

Produced a 3.4% increase in Same-Property Net Operating Income* (NOI) over the same period a year ago.

Subsequent to quarter end, published the company’s ninth annual Corporate Responsibility Report detailing performance in environmental, social, and governance (ESG) areas.

Kimco CEO Conor Flynn stated, “Our focus on leasing continues to validate the high quality of our portfolio, with over seven million square feet leased through the end of June. Our last-mile, open-air, grocery-anchored portfolio is facilitating higher retention, driving strong new tenant demand, and maintaining solid pricing power, even in the current inflationary environment, all of which should lead to greater free cashflow and visible earnings growth. With an emphasis on necessity-based goods and services, our portfolio is well-positioned in high-growth and affluent markets to serve the needs of consumers and retailers alike as we work to enhance shareholder value.”

Financial Results:

The company reported a net loss available to the company’s common shareholders of ($125.8) million, or ($0.21) per diluted share, for the second quarter of 2022. This compares to net income available to the company’s common shareholders of $110.3 million, or $0.25 per diluted share, for the second quarter of 2021. The year-over-year change is primarily attributable to a $285.8 million mark-to-market reduction on marketable securities mainly stemming from a change in the value of Albertsons Companies, Inc. (NYSE: ACI) common stock held by the company. Other items impacting the year-over-year change include an increase in consolidated revenues from rental properties of $137.5 million as well as higher depreciation and amortization expense of $52.0 million, both of which were due in part to the merger with Weingarten Realty Investors (Weingarten) in August of 2021.

*Reconciliations of net (loss)/income available to the company’s common shareholders to certain non-GAAP measures including FFO, Same-property NOI and Net Debt to EBITDA are provided in the tables accompanying this press release.

FFO was $246.4 million, or $0.40 per diluted share, for the second quarter 2022 compared to $148.8 million, or $0.34 per diluted share, for the second quarter 2021, which includes $3.2 million, or $0.01 per diluted share, of merger related costs.

Operating Results:

Pro-rata portfolio occupancy ended the quarter at 95.1%, an increase of 40 basis points sequentially and 120 basis points year-over-year. The improvement in portfolio occupancy was driven by positive net absorption including the lowest level of vacates (by GLA) during a quarter in over 10 years.

Pro-rata anchor occupancy ended the quarter at 97.6%, an increase of 30 basis points sequentially and 70 basis points year-over-year.

Pro-rata small shop occupancy expanded 80 basis points sequentially and 370 basis points year-over-year to 89.2%.

Signed 498 leases totaling 2.3 million square feet with blended pro-rata rental-rate spreads on comparable spaces increasing 7.1%, and with rental rates for new leases up 16.6% and renewals and options growing 5.6%.

Reported a 290-basis-point spread between leased (reported) occupancy versus economic occupancy at the end of the second quarter, representing $44 million of future rent.

Produced 3.4% growth in Same-Property Net Operating Income (NOI) over the same period a year ago, driven by a 4.7% increase in minimum rent.

Transaction Activities:

Sold four shopping centers and four land parcels totaling 1.1 million square feet for $221.6 million. The company’s pro-rata share of the sales price was $100.3 million.

Acquired three previously unowned parcels that are part o

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EXHIBIT 99.1

Exhibit 99.1

Kimco Realty® Announces First Quarter 2022 Results

– Strong Operating Performance Generates Solid Growth –

Net Income Increases 23%

Funds From Operations* Increases 18%

– Board Raises Quarterly Cash Dividend on Common Shares by 5.3% –

– Raises 2022 Outlook –

JERICHO, N.Y.--(BUSINESS WIRE)--April 28, 2022--Kimco Realty® (NYSE: KIM), North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, including mixed-use assets, today reported results for the first quarter ended March 31, 2022. For the three months ended March 31, 2022 and 2021, Kimco Realty’s net income available to the company’s common shareholders was $0.37 per diluted share and $0.30 per diluted share, respectively.

First Quarter Highlights:

Produced Funds From Operations (FFO) of $0.39 per diluted share, representing an 18.2% increase over the comparable period in 2021

Leased a total of 4.7 million square feet including 3.9 million square feet of renewals and option exercises

Grew pro-rata portfolio occupancy by 30 basis points sequentially to 94.7%, representing the highest sequential occupancy increase in a first quarter in over 10 years

Increased pro-rata anchor occupancy by 20 basis points sequentially to 97.3% with small shop occupancy improving by 70 basis points to 88.4%

Generated pro-rata, rental-rate leasing spreads of 18.6% for new leases on comparable spaces

Produced an 8.9% increase in Same-property Net Operating Income* (NOI), including redevelopments, over the same period a year ago

Lowered Net Debt to EBITDA* to 6.4x on a look-through basis, which includes outstanding preferred stock and the company’s pro-rata share of joint venture debt, representing the lowest reported leverage level since the company began disclosing this metric

“Our ongoing commitment to leasing, leasing, and leasing resulted in our team signing 4.7 million square feet which drove both sequential and year-over-year occupancy gains as well as strong NOI and FFO growth to start 2022,” commented Kimco Realty CEO Conor Flynn. “With tenant demand robust for stores that serve their respective communities as last-mile fulfillment and distribution locations, Kimco Realty remains well positioned to outperform in the coming years, as we remain committed to building additional long-term shareholder value.”

Financial Results:

Net income available to the company’s common shareholders for the first quarter of 2022 was $230.9 million, or $0.37 per diluted share, compared to $131.6 million, or $0.30 per diluted share, for the first quarter of 2021. The year-over-year change is primarily attributable to an increase in consolidated revenues from rental properties of $143.8 million, partially offset by an increase in real estate taxes of $15.4 million and operating and maintenance costs of $22.7 million, primarily stemming from the merger with Weingarten Realty Investors (Weingarten) in August of 2021. In addition, there was a $60.7 million benefit from mark-to-market gains on marketable securities, primarily from change in the value of Albertsons Companies, Inc. (NYSE: ACI) common stock held by the company. Also impacting the change in net income were increases in depreciation and amortization of $55.4 million, interest expense of $9.3 million and general and administrative expenses of $5.5 million, all of which were primarily due to the aforementioned merger with Weingarten. The company also recognized a $7.2 million early extinguishment of debt charge in the first quarter of 2022 related to the prepayment of $500 million, 3.400% unsecured notes that were scheduled to mature in November 2022.

*Reconciliations of net income available to the company’s common shareholders to non-GAAP measures Nareit FFO, Same-property NOI and Net Debt to EBITDA are provided in the tables accompanying this press release.

Nareit FFO was $240.6 million, or $0.39 per diluted share, for the first quarter 2022 compared to $144.3 million, or $0.33 per diluted share, for the first quarter 2021.

Operating Results:

Pro-rata portfolio occupancy ended the quarter at 94.7%, representing an increase of 120 basis points year-over-year.

Increased the spread between Kimco Realty’s leased (reported) occupancy vs. economic occupancy to 310 basis points at the end of the period, representing $47 million of future rent.

Ended the quarter with pro-rata anchor occupancy of 97.3% and small shop occupancy of 88.4%, representing year-over-year increases of 110 basis points and 260 basis points, respectively.

Signed 653 leases totaling 4.7 million square feet with blended pro-rata rental-rate spreads on comparable spaces increasing 7.2%, and with rental rates for new leases up 18.6% and renewals and options growing 6.4%.

Transaction Activities:

During the first quarter, the company sold three shopping centers that were in joint ventures, totaling 626,000 square feet, for $81.9 million. The compa

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EXHIBIT 99.1

Exhibit 99.1

Kimco Realty® Announces Fourth Quarter and Full Year 2021 Results

– Expanded Portfolio Concentrated in High-Growth Markets Drives Outperformance –

– Board Raises Quarterly Cash Dividend on Common Shares by 11.8% –

– Company Provides Initial 2022 Outlook –

JERICHO, N.Y.--(BUSINESS WIRE)--February 10, 2022--Kimco Realty® (NYSE: KIM), North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers and mixed-use assets, today reported results for the fourth quarter and full year ended December 31, 2021. For the three months ended December 31, 2021 and 2020, Kimco Realty's net income available to the company’s common shareholders was $0.13 per diluted share and $0.45 per diluted share, respectively.

Fourth Quarter Highlights:

Produced Funds From Operations (FFO) of $0.39 per diluted share

Grew pro-rata portfolio occupancy 30 basis points sequentially to 94.4%

Sequentially grew pro-rata anchor occupancy 20 basis points to 97.1% and small shop occupancy 40 basis points to 87.7%

Generated new cash pro-rata leasing spreads of 14.1% on comparable spaces

Leased 2.1 million square feet during the quarter and over 8.7 million square feet during 2021

Reported a 12.9% increase in Same-property Net Operating Income (NOI), including redevelopments and the former Weingarten Realty (WRI) portfolio, during the fourth quarter over the same period a year ago

Lowered Net Debt to EBITDA on a look-through basis, which includes outstanding preferred stock and the company’s pro-rata share of joint venture debt, to 6.6x, representing the lowest reported level since the company began disclosing this metric

Investment in Albertsons Companies Inc. (NYSE: ACI) common stock valued at over $1.2 billion at quarter end

Subsequent to year end, the company announces new appointments to its senior leadership team.

“We are extremely proud to have completed another quarter with leasing volume exceeding two million square feet, bringing leasing for the year to 8.7 million square feet,” stated Kimco Realty CEO Conor Flynn. “Our ongoing commitment to leasing our open-air, last-mile, grocery-anchored centers and mixed-use assets in growing markets is resulting in solid occupancy gains and growth in FFO. The ongoing challenges of COVID notwithstanding, the successful merger with WRI combined with unprecedent levels of tenant demand driven by the critical importance of bricks and mortar shopping for profitable last-mile fulfillment and distribution should help drive continued strong results in 2022 and beyond, and further enhance shareholder value.

Financial Results:

Fourth Quarter 2021

Net income available to the company’s common shareholders for the fourth quarter of 2021 was $75.3 million, or $0.13 per diluted share, compared to $194.9 million, or $0.45 per diluted share, for the fourth quarter of 2020. The year-over-year change is primarily attributable to a $187.5 million reduction in the gain on marketable securities, primarily as a result of the mark-to-market fluctuations on 39.8 million shares of common stock of Albertsons Companies, Inc. (NYSE: ACI) held by the company. This was partially offset by the positive impact associated with the integration of WRI for a full quarter since the successful merger completion in August of 2021.

Nareit FFO was $240.1 million, or $0.39 per diluted share, for the fourth quarter of 2021 compared to $133.0 million, or $0.31 per diluted share, for the fourth quarter 2020.

Full Year 2021

Net income available to the company’s common shareholders was $818.6 million, or $1.60 per diluted share, for the full year 2021 compared to $975.4 million, or $2.25 per diluted share, for the full year 2020.

Nareit FFO was $706.8 million, or $1.38 per diluted share, for the full year 2021 and includes $47.2 million, or $0.09 per diluted share, of net merger-related charges and pension valuation adjustments associated with WRI. For the full year 2020, Nareit FFO was $503.7 million, or $1.17 per diluted share.

A reconciliation of net income available to the company’s common shareholders to Nareit FFO is provided in the tables accompanying this press release.

Fourth Quarter 2021 Operating Results:

Pro-rata portfolio occupancy ended the quarter at 94.4%, representing an increase of 50 basis points year-over-year and 30 basis points sequentially. The spread between Kimco Realty’s leased (reported) occupancy vs. economic occupancy was 270 basis points at the end of the period, compressing 30 basis points sequentially.

Ended the quarter with pro-rata anchor occupancy at 97.1%, up 40 basis points year-over-year and 20 basis points sequentially, and small shop occupancy at 87.7%, an increase of 160 basis points year-over-year and 40 basis points sequentially.

Signed 438 leases totaling 2.1 million square feet with blended pro-rata rental-rate spreads on comparable spaces increasing 8.1%, and with rental rates for

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EXHIBIT 99.1

Exhibit 99.1

Kimco Realty Announces Third Quarter 2021 Results

– Strong Operating Results from the Expanded Portfolio Following Strategic Merger –

– Raises 2021 Outlook –

JERICHO, N.Y.--(BUSINESS WIRE)--November 5, 2021--Kimco Realty Corp. (NYSE: KIM), North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers and mixed-use assets, today reported results for the third quarter ended September 30, 2021. For the three months ended September 30, 2021 and 2020, Kimco’s net income/(loss) available to the company’s common shareholders was $0.91 per diluted share and ($0.10) per diluted share, respectively.

Third Quarter Highlights:

Completed the strategic merger with Weingarten Realty Investors on August 3, 2021.

Produced FFO of $0.32 per diluted share, which includes merger-related costs of $47.0 million, or $0.08 per diluted share.

Grew pro-rata portfolio occupancy 20 basis points sequentially to 94.1%.

Increased pro-rata small shop occupancy 180 basis points sequentially to 87.3%.

Signed 411 leases totaling 2.1 million square feet of gross leasable area (GLA).

Same property Net Operating Income (NOI), which excludes the impact of the Weingarten Realty portfolio, grew 12.1% over the prior year.

Ended the quarter with Kimco’s investment in Albertsons Companies Inc. (NYSE: ACI) common stock valued at over $1.2 billion.

Achieved an “A” rating from the Global Real Estate Sustainability Benchmark (GRESB) for both Public Disclosure and Real Estate Performance Assessment placing Kimco as the top company in its respective US Retail peer group. Additionally, Kimco was again named as a constituent of the FTSE4Good Index Series and was certified as a Great Place to Work® company for the 4th consecutive year.

Kimco CEO Conor Flynn commented, “We are extremely proud to have completed another quarter where leasing volume exceeded two million square feet, bringing year-to-date leasing to 6.7 million square feet. We remain committed to ‘leasing, leasing and leasing,’ and our success continues to validate the importance and value of the real estate we own. With the strategic addition of the Weingarten portfolio and our highly desirable open-air, last-mile grocery-anchored centers in growing markets, we are excited to again raise our outlook for 2021 as we embrace the opportunity to create additional value for shareholders.”

Financial Results:

Net income/(loss) available to the company’s common shareholders for the third quarter of 2021 was $501.4 million, or $0.91 per diluted share, compared to ($44.7) million, or ($0.10) per diluted share, for the third quarter of 2020. The year-over-year change includes:

$534.1 million increase in gain on marketable securities, primarily as a result of the mark-to-market fluctuations on 39.8 million shares of common stock of Albertsons Companies, Inc. (NYSE: ACI) held by the company which was valued at over $1.2B at the end of the third quarter of 2021.

$26.6 million improvement in consolidated credit loss on potentially uncollectible accounts receivable.

$7.5 million less in charges related to early extinguishment of debt.

$47.0 million in charges during the third quarter of 2021 related to the merger with Weingarten Realty.

NAREIT Funds From Operations (FFO) was $173.7 million, or $0.32 per diluted share, for the third quarter of 2021 and includes merger charges with Weingarten Realty of $47.0 million, or $0.08 per diluted share. NAREIT FFO was $106.7 million, or $0.25 per diluted share, for the third quarter 2020. A reconciliation of net income available to the company’s common shareholders to NAREIT FFO is provided in the tables accompanying this press release.

Operating Results:

Pro-rata portfolio occupancy ended the quarter at 94.1%, an increase of 20 basis points sequentially, with the spread between leased (reported) occupancy vs. economic occupancy 300 basis points.

Pro-rata anchor occupancy ended the quarter at 96.9%, flat on a sequential basis.

Pro-rata small shop occupancy ended the quarter at 87.3%, an increase of 180 basis points sequentially from the second quarter of 2021.

Pro-rata rental-rate spreads on comparable spaces during the third quarter of 2021 increased 4.9%, with rental rates for new leases up 5.0% and renewals/options up 4.9%.

During the third quarter, the company signed 411 leases totaling 2.1 million square feet of GLA benefitting from the Weingarten merger. This was bolstered by 141 new leases for 605,000 square feet.

Same-property NOI, including redevelopments, increased 12.1% for the third quarter of 2021 over the comparable period in 2020. The company excluded Weingarten Realty from the calculation of same-property NOI since it was not owned for the full period. Kimco expects to include the Weingarten portfolio in its Same-property NOI beginning in the fourth quarter of 2021. A reconciliation of net income available to the company’s common sh

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EXHIBIT 99.1

Exhibit 99.1

Kimco Realty Announces Second Quarter 2021 Results

– Sequential Growth in Portfolio Occupancy Highlights Strong Operating Fundamentals –

– Raises 2021 Guidance on Improved Outlook –

JERICHO, N.Y.--(BUSINESS WIRE)--July 29, 2021--Kimco Realty Corp. (NYSE: KIM), one of North America’s largest publicly traded owners and operators of open-air, grocery-anchored shopping centers and mixed-use assets, today reported results for the second quarter ended June 30, 2021. For the three months ended June 30, 2021 and 2020, Kimco’s net income available to the company’s common shareholders was $0.25 per diluted share and $1.71 per diluted share, respectively.

Second Quarter Highlights:

Grew pro-rata portfolio occupancy 40 basis points sequentially to 93.9%.

Increased pro-rata anchor occupancy 70 basis points sequentially to 96.9%.

Generated new cash pro-rata leasing spreads of 9.2% on comparable spaces.

Same property Net Operating Income (NOI) including redevelopments grew 16.7% year-over-year.

Produced FFO of $0.34 per diluted share which reflects only $0.8 million of credit loss recognized during the quarter.

Ended the quarter with over $780 million of Albertsons Companies Inc. (NYSE: ACI) common stock.

Subsequent to quarter end, issued 2020 Corporate Responsibility Report.

“Our core focus remains on leasing, leasing and leasing which helped drive the sequential improvement in occupancy at a pace much greater than initially anticipated. With over 4.6 million square feet leased in the first half of 2021, we are demonstrating the value that our tenants and their customers place on last mile real estate anchored by highly desirable grocers in open-air centers,” stated Conor Flynn, Kimco’s Chief Executive Officer.

“We’ve raised our outlook for 2021 as our operating fundamentals are returning to pre-pandemic levels at a faster pace than originally projected,” Mr. Flynn continued. “Our raised outlook also reflects our confidence that the upcoming merger with Weingarten Realty will create additional value for our shareholders, as the combined business will benefit from enhanced diversification and embedded growth opportunities to drive future cash flow.”

Financial Results:

Net income available to the company’s common shareholders for the second quarter of 2021 was $110.3 million, or $0.25 per diluted share, compared to $741.5 million, or $1.71 per diluted share, for the second quarter of 2020. The year-over-year change includes:

($501.9) million decrease in gain on marketable securities mainly attributable to the 39.8 million shares of Albertsons Companies, Inc. (NYSE: ACI) common stock held by the company. During the second quarter of 2020, ACI completed its initial public offering which resulted in Kimco recognizing a one-time mark-to-market adjustment of $524.7 million to reflect the company’s ACI holdings at fair value. Previously, Kimco accounted for this investment on the cost method.

($190.8) million decrease in gain on sale of cost method investment, as these gains related to the partial monetization of Kimco’s investment in ACI from the sale of stock during the second quarter of 2020.

$43.8 million improvement in consolidated credit loss on potentially uncollectible accounts receivable.

$17.0 million increase from gains on sales of properties driven by an $18.8 million gain recognized on the sale of two Rite Aid distribution centers during the second quarter of 2021.

NAREIT Funds From Operations (FFO) was $148.8 million, or $0.34 per diluted share, for the second quarter of 2021 and includes charges related to the pending merger with Weingarten Realty of ($3.2) million, or ($0.01) per diluted share. NAREIT FFO was $103.5 million, or $0.24 per diluted share, for the second quarter 2020. A reconciliation of net income available to the company’s common shareholders to NAREIT FFO is provided in the tables accompanying this press release.

Operating Results:

Pro-rata portfolio occupancy ended the quarter at 93.9%, an increase of 40 basis points sequentially, with the spread between leased (reported) occupancy vs. economic occupancy approximately 300 basis points at the end of the second quarter of 2021.

Pro-rata anchor occupancy ended the quarter at 96.9%, representing a 70-basis-point sequential improvement from the first quarter of 2021 and the largest sequential increase in the past 10 years.

Pro-rata small shop occupancy ended the quarter at 85.5%, a decline of 30 basis points sequentially from the first quarter of 2021, reflecting the impact from the inclusion of Dania Pointe Phases II & III into occupancy at the end of the second quarter. Excluding the impact of Dania Pointe Phases II & III, small shop occupancy would be 86.1%, up 30 basis points sequentially.

Pro-rata rental-rate spreads on comparable spaces during the second quarter of 2021 increased 5.9%, with rental rates for new leases up 9.2% and renewals/options up 4.7%.

During