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Kimco Realty Corporation

KIM-PN·NYSE

$60.00

+0.0000%
Real EstateREIT - Retail

Kimco Realty (NYSE:KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is North America's largest publicly traded owner and operator of open-air, grocery-anchored shopping centers and a growing portfolio of mixed-use assets. The company's portfolio is primarily concentrated in the first-ring suburbs of the top major metropolitan markets, including those in high-barrier-to-entry coastal markets and rapidly expanding Sun Belt cities, with a tenant mix focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Kimco Realty is also committed to leadership in environmental, social and governance (ESG) issues and is a recognized industry leader in these areas. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value enhancing redevelopment activities for more than 60 years. As of December 31, 2023, the company owned interests in 523 U.S. shopping centers and mixed-use assets comprising 90 million square feet of gross leasable space.

At a Glance

Live Snapshot
Market Cap$40.58B
EPS0.2400
P/E Ratio62.09
Earnings Date08/01/2025

Intrinsic Alpha Methodology

Thesis Lenses

Signal · Driver · Risk

Signal

High confidence

Valuation multiple is elevated (P/E 62.1).

Valuation inputs: P/E 62.1, earnings yield +1.6%, momentum 0.0%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is soft (ROE +1.6%, ROIC +1.1%).

Profitability stack: net margin +31.0%, ROE +1.6%, ROIC +1.1%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Downside profile looks controlled across current risk inputs.

Risk factors: liabilities/assets +45.9%, momentum 0.0%, net margin +31.0%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

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Kimco Realty Corporation Market vs Earnings Trajectory

KIM-PN · NYSE

Loading price and EPS data...

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Kimco Realty Corporation Fair Value Envelope

KIM-PN · NYSE

Our analysis suggests that KIM-PN has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $60, this represents a potential HIDDEN relative to our calculated worth for Kimco Realty Corporation.

Intrinsic Value
Current Price: $60
3Y-66.0%
5Y-27.0%
10Y-73.0%
3Y+49.0%
5Y+76.0%
10Y+75.0%
3Y-51.0%
5Y+30.0%
10Y-54.0%
3Y+62.0%
5Y+72.0%
10Y+104.0%
3Y+150.0%
5Y+121.0%
10Y+108.0%
3Y+10.0%
5Y+85.0%
10Y+79.0%
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Kimco Realty Corporation Profit Bridge

KIM-PN · NYSE
Revenue2.04B
Cost of Goods Sold (637.65M)
Gross Profit1.40B
Operating Expenses (770.27M)
Operating Income629.09M
Interest Expense (307.81M)
Other Income/Expense-277.88M
Pretax Income351.21M
Income Tax (25.42M)
Net Income410.79M
Net Income
410.79M

Profitability Analysis

Gross Margin

68.7%

Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.

Operating Margin

30.9%

Outstanding operational efficiency. The company generates substantial profit from core operations.

Net Profit Margin

20.2%

Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.

Effective Tax Rate

7.2%

Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.

Profitability Insight

Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.

68.70%
Gross Profit Margin
3Y-1.0%
5Y-3.0%
10Y-7.0%
30.88%
Operating Profit Margin
-14%
3Y-1.0%
5Y-25.0%
10Y+5.0%
20.17%
Net Profit Margin
-45%
3Y-67.0%
5Y-26.0%
10Y-74.0%
3.86%
Return on Equity
-44%
3Y-55.0%
5Y-41.0%
10Y-78.0%
2.02%
Return on Assets
-44%
3Y-56.0%
5Y-29.0%
10Y-74.0%
2.91%
Return on Invested Capital
-9%
3Y+27.0%
5Y-34.0%
10Y+48.0%
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Kimco Realty Corporation Cash Conversion Engine

KIM-PN · NYSE
Net Income419.44M
Depreciation & Amortization578.48M
Stock-Based Compensation34.90M
Change in Working Capital-38.09M
Others10.89M
Capital Expenditures0.00
Free Cash Flow1.01B

Cash Flow Quality Analysis

FCF Conversion Rate

239.8%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

FCF Growth Trend

-6.2%

Declining FCF warrants attention. Investigate whether due to temporary factors or fundamental deterioration.

Working Capital Impact

-$38.09M

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

Cash Flow Quality Insight

Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.

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Kimco Realty Corporation Funding & Solvency Profile

KIM-PN · NYSE
Cash & Cash Equivalents226.55M
Net Receivables780.34M
Inventory0.00
Other Current Assets1.27M
Total Current Assets1 B
Property, Plant & Equipment130.77M
Goodwill & Intangible Assets0.00
Long-Term Investments1.58B
Other Non-Current Assets17.08B
Total Non-Current Assets19 B
Total Assets
19.80B

Financial Health Analysis

Current Ratio

3.82x

Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.

Debt-to-Equity Ratio

0.85x

Balanced capital structure with moderate leverage. Equity exceeds debt, suggesting healthy financial stability.

Working Capital

744 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

5% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

Financial Health Insight

Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.

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Kimco Realty Corporation Street Expectations Map

KIM-PN · NYSE

No Target Data

No analyst price targets available for kim-pn.

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Kimco Realty Corporation Insider Positioning

KIM-PN · NYSE

During the last 12 months, there has been no insider trading activity reported for KIM-PN.

3 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

Top Buyers

No buying activity

Top Sellers

No selling activity

Insider Activity Analysis

Net Insider Sentiment

Neutral

No insider trading activity reported. This could indicate blackout periods, lack of conviction, or regulatory restrictions.

Insider Participation

No Activity

No insider trading activity reported from any insiders in the past year.

0.44%
Dividend Yield
-1%
3Y+16.0%
5Y-15.0%
10Y-9.0%
 

kim-pn Dividend History

KIM-PN
10Y CAGR +0%
Latest $0.906
Annual $0.90625
Stable dividend payments
Last Period: +0%