1) Strategy & Leadership
- Kimco Realty continues to validate its growth strategy, emphasizing the strength of its portfolio and operational model.
- The launch of the "One Kimco" operating model aims to enhance accountability and consistency across the organization, improving execution and leasing productivity.
- The company is focusing on capital recycling, selling low-growth assets to reinvest in higher-growth shopping centers, which supports long-term value creation.

2) Financial & Segment Results
- FFO per diluted share for Q2 2026 was $0.46, up 4.5% YoY.
- Same-property NOI grew by 3.5%, driven by higher minimum rents and stronger net recoveries.
- Small shop occupancy reached a record high of 92.9%, while overall portfolio occupancy matched an all-time high at 96.4%.
- The company raised its full-year FFO outlook to a range of $1.83 to $1.84 per diluted share, reflecting strong performance and improved visibility for the remainder of the year.

3) Operational Plans & Leasing Activity
- Kimco signed 461 leases covering 2.5 million square feet in Q2, with a blended spread of 13.1%.
- New leasing activity was particularly strong, with 161 deals covering 685,000 square feet at a blended spread of 40.4%.
- The SNO pipeline is projected to generate $95 million in annual base rent, with $33 million expected to be received in 2026, 16% higher than initial estimates.
- The company is investing in technology and AI to streamline operations and enhance productivity across its portfolio.

4) Problems / Headwinds
- The company absorbed a 16 basis point impact from the Painted Tree bankruptcy lease rejections, which slightly affected overall occupancy.
- The competitive market for acquisitions and transactions remains a challenge, but Kimco is leveraging existing relationships to find accretive opportunities.

5) Guidance & Outlook / Investor Angle
- The Board approved a 12% increase in the quarterly common cash dividend, reflecting confidence in long-term growth and cash flow durability.
- Kimco's strategic focus on enhancing its portfolio through capital recycling and operational improvements positions it well for future growth.
- The company expects continued strong demand for its properties, driven by a healthy consumer environment and retailer interest in high-quality locations.

Bottom line: Kimco Realty's robust operational performance, strategic capital recycling, and the implementation of the "One Kimco" model position the company for sustainable growth, making it an attractive investment opportunity for shareholders.