Kimco delivered Q1 2026 net income of $157.4 million, or $0.23 per diluted share, a 28% increase year-over-year, and FFO rose to $311.3 million, or $0.46 per diluted share, marking 4.5% growth. Revenue growth of $21.5 million was driven by higher minimum rents and reimbursement income, partially offset by increased operating expenses.

During the quarter, Kimco signed 576 leases totaling 4.4 million square feet, generating blended pro-rata cash rent spreads of 11.3%, including new lease spreads of 23.8%. Pro-rata leased occupancy climbed to 96.3%, with anchor occupancy at 97.9% and small shop occupancy at 92.5%, underpinning the record $77 million, or 410 basis points, leased-to-economic occupancy spread.

The REIT closed $47.1 million in ground-lease sales and deployed $76.4 million into new structured investments, funded in part by $38.5 million in repayments. It recast its $2.0 billion revolving credit facility, launched a $750 million commercial paper program, repurchased 23,103 shares at an average $19.99 price, and ended the quarter with $2.2 billion of available liquidity.

Kimco’s board declared a quarterly dividend of $0.26 per common share, up 4% year-over-year, payable June 18, 2026. With a significant signed-not-opened development pipeline slated to come online in coming quarters, management reaffirmed its commitment to external growth targets and long-term value creation for shareholders.