Jericho, New York-based Kimco Realty Corporation (KIM) is a real estate investment trust (REIT). With a market cap of $15.1 billion, it specializes in owning and operating open-air, grocery-anchored shopping centers across North America alongside a growing portfolio of mixed-use assets.
The real estate major has substantially underperformed the broader market over the past year. KIM is up 10.1% over the past 52-week period and down 5.2% on a YTD basis, compared to the S&P 500 Index’s ($SPX) 20.9% returns over the past year and 1.9% gains in 2025.
Zooming in further, while KIM has outpaced the industry-focused JPMorgan Realty Income ETF’s (JPRE) 8.7% returns over the past 52 weeks, it has underperformed JPRE’s marginal 8 basis point drop in 2025.
Despite reporting better-than-expected financials, KIM dropped 1.3% after the release of its Q3 results on Oct. 31. Driven by strong leasing activities and a solid occupancy rate, Kimco’s total revenues soared 13.8% year-over-year to $507.6 billion, exceeding the Street’s expectations by 1.5%. Meanwhile, its funds from operations (FFO) increased 15.6% year-over-year to $287.4 million and its FFO per share of $0.43 surpassed the consensus estimates by 4.9%.
However, the company has reduced its full-year disposition outlook by $50 million, suggesting potential difficulties in asset sales. Additionally, several analysts have projected a softer growth in FFO for 2025, causing investor concerns.
Kimco is set to unveil its fiscal 2024 earnings later this week, analysts expect KIM to report a 4.5% year-over-year growth in FFO per share to $1.64. Furthermore, the company has a robust FFO surprise history. It has surpassed the Street’s bottom-line expectations in each of the past four quarters.
Among the 22 analysts covering the KIM stock, the consensus rating is a “Moderate Buy.” That’s based on seven “Strong Buy” and 15 “Hold” ratings.
This configuration is slightly less bullish than two months ago when nine analysts gave “Strong Buy” ratings.
On Jan. 29, Wells Fargo (WFC) analyst Dori Kesten maintained an “Equal-Weight” rating on KIM while decreasing the price target to $24.
KIM’s mean price target of $25.45 represents a 14.5% premium to current price levels, while its street-high target of $30 suggests a staggering 35% upside potential.
