Kimco Realty buys two Louisville grocery-anchored centers for $295 million at 6% cap rate. Kimco Realty said it acquired Paddock Shops and Shelbyville Road Plaza in Louisville for $295 million, funded mainly with 1031 exchange proceeds, weeks after raising its 2026 FFO outlook. Nov 03, 2026 - 12:20 Kimco Realty Corp. (NYSE: KIM), one of the largest U.S. owners of open-air shopping centers, said late Monday, Nov. 2, 2026, that it has acquired two grocery-anchored retail properties in Louisville, Kentucky, for $295 million. The purchase of Paddock Shops and Shelbyville Road Plaza gives the real estate investment trust three grocery-anchored centers in the Louisville market, according to the company's announcement, which was released at 5:48 p.m. ET. What Kimco bought. The two centers sit in Louisville's East End and together cover more than 741,000 square feet. They are anchored by Trader Joe's and The Fresh Market, and Kimco said each property draws more than 4 million visits a year, citing foot-traffic data from Placer.ai. Paddock Shops is a 351,000-square-foot lifestyle center in the northeastern part of the city and was 94% leased at the time of the deal. Kimco said the center's shoppers have a median household income of about $122,000, close to double the Kentucky statewide figure, and that roughly 60% hold at least a bachelor's degree, again citing Placer.ai. The property will be added to Kimco's Lifestyle Collection, the company's group of signature open-air and mixed-use centers. Shelbyville Road Plaza is a 390,000-square-foot center in St. Matthews, an established retail hub in the Louisville metro area, and was 92% leased. National tenants across the two sites include REI, Total Wine and More, Pottery Barn, West Elm, Ulta Beauty, Nordstrom Rack, Burlington, Ross Dress for Less and Old Navy. Kimco already owned Festival at Jefferson Court, a Kroger-anchored center in the same metro area. With the new purchases, the company's Louisville holdings total 911,000 square feet across three grocery-anchored properties. Pricing and funding. Kimco said it paid a blended going-in capitalization rate of about 6% for the two centers. That is more than 100 basis points above the roughly 5% average cap rate on the properties it has sold so far in 2026, a gap the company described as recycling capital into higher-yielding assets. A cap rate measures a property's first-year net operating income as a percentage of its purchase price. The company said net operating income at the centers is underwritten to grow about 4% a year over the next decade, based on below-market rents on a number of existing leases and room to change the tenant mix. The deal was funded mainly with proceeds from 2026 property sales structured as Section 1031 exchanges, which allow real estate sellers to defer capital gains taxes by reinvesting in similar property, and Kimco described the purchase as self-funded and leverage-neutral. Kimco also cited market data from Cushman and Wakefield showing Louisville shopping center vacancy at 3.9%, compared with 6% nationally. According to that data, the metro ranks among the top 10 major U.S. markets for occupancy and has no new shopping center space under construction. "We sold lower-growth assets and reinvested the proceeds into higher-growth opportunities that strengthen our presence in a market we find very attractive," Chief Executive Officer Conor Flynn said in the statement. President and Chief Investment Officer Ross Cooper said the company plans to use its leasing platform to raise occupancy and rents at both properties. Context from third-quarter results. The acquisition follows Kimco's third-quarter 2026 report on Oct. 29, in which the REIT posted funds from operations, a standard REIT earnings measure, of $0.47 per diluted share, up 6.8% from $0.44 a year earlier. Net income available to common shareholders rose to $272.5 million, or $0.41 per diluted share, from $130.2 million, or $0.19, mainly because of larger gains on property sales. Portfolio occupancy reached a record 96.6% at the end of September, and same-property net operating income grew 4.9% from a year earlier. Rent spreads on comparable new leases were 31.5%. During the quarter, Kimco sold The Witmer, a 440-unit apartment building at its Pentagon Centre property in Virginia, for $211.5 million at a cap rate of about 5.1%, and completed the previously announced sale of four Costco-anchored assets for about $127 million. It also bought two Florida centers, Pompano Marketplace for $53 million and Sunshine Plaza for $56 million. Kimco raised its full-year 2026 guidance for funds from operations to $1.84 to $1.86 per diluted share, from $1.83 to $1.84, and lifted its net income outlook to $1.07 to $1.09 per share. The company's updated assumptions call for acquisitions and dispositions to be roughly balanced for the year, with total transaction volume of $400 million to $500 million, acquisitions at a weighted average cap rate near 6.0% and dispositions near 5.0%. The board declared a quarterly dividend of $0.28 per common share, 7.7% higher than a year earlier, payable Dec. 18, 2026, to shareholders of record on Dec. 4. As of Sept. 30, Kimco owned interests in 561 U.S. shopping centers and mixed-use properties totaling 99 million square feet of gross leasable area.

Kimco Realty (NYSE:KIM) raised its full-year outlook after strong third-quarter results. It now expects funds from operations (FFO) of $1.84 to $1.86 per diluted share, and same-property net operating income growth of 3.5% to 3.8%. Third-quarter FFO was $0.47 per diluted share, up 6.8% from a year earlier. Lease occupancy hit a record 96.6%, and new-lease spreads topped 30% for the 20th straight quarter. Kimco repurchased $150 million of common shares at a weighted average $23.80 each. Leverage fell to its lowest level since the company began reporting it, and liquidity exceeded $2.5 billion. It sold The Witmer multifamily property for $211.5 million and four Costco-anchored properties for $127 million, reinvesting in grocery-anchored centers in South Florida.

Kimco Realty Corporation (NYSE:KIM) announces quarterly dividend of $0.28. October 29, 2026 Key points. * Kimco Realty declared a quarterly dividend of $0.28 per share, payable December 18 to shareholders of record December 4. The dividend implies $1.12 in annual payments and a 4.6% yield. * The dividend currently exceeds earnings coverage, with a 151.4% payout ratio, although analysts expect a more sustainable 58.6% ratio next year based on projected earnings of $1.91 per share. * Kimco reported quarterly EPS of $0.47, slightly beating estimates, while revenue rose 3.9% year over year to $546.15 million. The stock gained 4.2% to $24.38, and analysts maintained a "Moderate Buy" consensus with a $25.71 average price target. * Five stocks to consider instead of Kimco Realty. Kimco Realty Corporation (NYSE:KIM - Get Free Report) declared a quarterly dividend on Thursday, October 29th. Investors of record on Friday, December 4th will be given a dividend of $0.28 per share by the real estate investment trust on Friday, December 18th. This represents a $1.12 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, December 4th. Kimco Realty has increased its dividend by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Kimco Realty has a payout ratio of 151.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Kimco Realty to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 58.6%. Kimco Realty stock up 4.2%. KIM stock traded up $0.98 during trading on Thursday, reaching $24.38. The stock had a trading volume of 6,961,831 shares, compared to its average volume of 5,199,874. Kimco Realty has a one year low of $19.76 and a one year high of $26.65. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.84. The company's 50 day moving average is $23.05 and its two-hundred day moving average is $23.46. The company has a market capitalization of $16.35 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 2.69 and a beta of 0.94. Kimco Realty (NYSE:KIM - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. Kimco Realty had a net margin of 27.76% and a return on equity of 5.76%. The firm had revenue of $546.15 million during the quarter, compared to analyst estimates of $549.06 million. During the same quarter last year, the business posted $0.44 EPS. The company's revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts forecast that Kimco Realty will post 1.84 EPS for the current year. Wall Street analyst weigh in. Several equities research analysts have recently issued reports on the company. Weiss Ratings lowered Kimco Realty from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Wells Fargo & Company cut their price objective on shares of Kimco Realty from $26.00 to $23.00 and set an "equal weight" rating for the company in a report on Friday, October 23rd. Piper Sandler decreased their price target on shares of Kimco Realty from $31.00 to $27.00 and set an "overweight" rating on the stock in a report on Monday, October 12th. UBS Group lowered their price objective on shares of Kimco Realty from $29.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, October 9th. Finally, Mizuho reduced their target price on Kimco Realty from $25.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $25.71. Discover more MarketBeat All Access MarketBeat Research Tools Kimco Realty company profile. Kimco Realty Corporation is a real estate investment trust that owns, operates and develops open-air, grocery-anchored shopping centers and mixed-use properties in the United States. Its properties are designed to serve everyday consumer needs and typically include grocery stores, restaurants, service businesses, retailers and other essential tenants. The company's portfolio is concentrated in major metropolitan areas and high-density communities, with a focus on locations that offer convenient access, strong surrounding demographics and complementary tenant mixes. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Kimco Realty, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kimco Realty wasn't on the list. While Kimco Realty currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys. Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you'll find 7 stocks that could play a major role in the next tech-driven market boom. Continue following MarketBeat