Kimco Realty Corp Management Meeting Takeaways

Goldman Sachs maintains a Neutral rating on Kimco Realty following a management meeting where the company highlighted strong retailer demand and limited supply. KIM remains focused on small-shop occupancy upside and 3%+ Same-Store NOI growth.

Key Takeaways

• 1.Retailer demand remains robust but is constrained by very limited new supply of open-air retail space.
• 2.Management reiterated a 3%+ Same-Store NOI growth target, supported by small-shop occupancy gains and rent escalators.
• 3.Bad debt guidance for 2026 was tightened to 65-90bps after a strong 1Q26 performance of 52bps.

Table of Contents

• Key management meeting highlights
• Portfolio performing well
• Upside risks
• Downside risks
• Disclosure Appendix
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Company-specific regulatory disclosures
• Distribution of ratings/investment banking relationships
• Price target and rating history chart(s)
• Target price history table(s) Kimco Realty Corp. (KIM)
• Regulatory disclosures
• Additional disclosures required under the laws and regulations of jurisdictions other than the United States
• Ratings, coverage universe and related definitions
• Global product; distributing entities
• General disclosures

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