Kimco Realty (KIM) risk factors, 2025 10-K

Risks Related to Our Business and Operations

1. 01Adverse global market and economic conditions may impede our ability to generate sufficient income and maintain our properties
2. 02Competition may limit our ability to purchase new properties or generate sufficient income from tenants and may decrease the occupancy and rental rates for our properties
3. 03Our performance depends on our ability to collect rent from tenants, including anchor tenants, our tenants’ financial condition and our tenants maintaining leases for our properties
4. 04E-commerce and other changes in consumer buying practices present challenges for many of our tenants and may require us to modify our properties, diversify our tenant composition and adapt our leasing practices to remain competitive
5. 05Our expenses may remain constant or increase, even if income from our Combined Shopping Center Portfolio decreases, which could adversely affect our financial condition, results of operations and cash flows
6. 06We may be unable to sell our real estate property investments when appropriate or on terms favorable to us
7. 07We may acquire or develop properties or acquire other real estate related companies, and this may create risks
8. 08We face risks associated with the development of mixed-use commercial properties
9. 09Construction projects are subject to risks that materially increase the costs of completion
10. 10Supply chain disruptions and unexpected construction expenses and delays could impact our ability to timely deliver spaces to tenants and/or our ability to achieve the expected value of a construction project or lease, thereby adversely affecting our profitability
11. 11International trade disputes, including U.S. trade tariffs and retaliatory tariffs, could adversely impact our business
12. 12The Americans with Disabilities Act of 1990 could require us to take remedial steps with respect to existing or newly acquired properties
13. 13We do not have exclusive control over our joint venture and preferred equity investments, such that we are unable to ensure that our objectives will be pursued
14. 14our joint venture partners’ business decisions or other actions or omissions may result in harm to our reputation or adversely affect the value of our investments
15. 15We may not be able to recover our investments in mortgage receivables or other investments, which may result in significant losses to us
16. 16ongoing consolidation in the retail sector
17. 17Our real estate assets may be subject to impairment charges
18. 18We may not be able to recover our investments, which may result in significant losses to us
19. 19We have completed our efforts to exit Mexico and Canada, however, we cannot predict the impact of laws and regulations affecting these international operations, including the United States Foreign Corrupt Practices Act, or the potential that we may face regulatory sanctions
20. 20We have experienced cybersecurity attacks, and future attacks and incidents could materially impact our business, financial condition and results of operations
21. 21services providers will be fully implemented, complied with, or effective or that security breaches or disruptions will not materially impact our business
22. 22damaging our reputation among our tenants, investors and associates
23. 23Artificial intelligence presents risks and challenges that can impact our business, including by posing security risks to our confidential information, proprietary information, and personal data
24. 24We may be subject to liability under environmental laws, ordinances and regulations
25. 25Natural disasters, severe weather conditions and the effects of climate change could have an adverse impact on our financial condition, results of operations and cash flows
26. 26Such events could result in the complete or partial closure of one or more of our tenants’ manufacturing facilities or distribution centers, temporary or long-term disruption in our tenants’ supply chains from local and international suppliers, and/or delays in the delivery of our tenants’ inventory
27. 27Financial disruption, geopolitical challenges, or economic downturn could materially and adversely affect the Company’s business
28. 28Hedging activity may expose us to risks, including the risks that a counterparty will not perform and that the hedge will not yield the economic benefits we anticipate, which may adversely affect us
29. 29We are subject to risks and costs arising from disclosures, commitments, evaluations and other items related to sustainability or corporate responsibility
30. 30Our success depends largely on the continued service and availability of key personnel
31. 31Retail operating conditions may adversely affect our results of operations
32. 32Our Umbrella Partnership Real Estate Investment Trust (“UPREIT”) structure may result in potential conflicts of interest with members of Kimco OP, whose interests may not be aligned with those of our stockholders

Risks Related to Our Debt and Equity Securities

1. 33We may be unable to obtain financing through the debt and equity markets, which could have a material adverse effect on our growth strategy, our financial condition and our results of operations
2. 34we may need to issue additional capital stock, which could further dilute the ownership of our existing stakeholders
3. 35We are subject to financial covenants that may restrict our operating and acquisition activities
4. 36We have a substantial amount of indebtedness and may need to incur more indebtedness in the future
5. 37We are exposed to interest rate risk, and there can be no assurance that we will manage or mitigate this risk effectively
6. 38Changes in market conditions could adversely affect the market price of our publicly traded securities
7. 39We may change the dividend policy for our common stock in the future
8. 40Our charter and bylaws and Maryland law contain provisions that may delay, defer or prevent a change of control transaction, even if such a change in control may be in our best interest, and as a result may depress the market price of our securities

Risks Related to Our Status as a REIT and Related U.S. Federal Income Tax Matters

1. 41Loss of our tax status as a REIT or changes in U.S. federal income tax laws, regulations, administrative interpretations or court decisions relating to REITs could have significant adverse consequences to us and the value of our securities
2. 42we would not be required to make distributions to stockholders
3. 43If Kimco OP were to fail to qualify as a partnership for federal income tax purposes, the Parent Company would fail to qualify as a REIT and suffer other adverse consequences
4. 44Tax liabilities and attributes inherited in connection with acquisitions may adversely impact our business
5. 45The tax imposed on REITs engaging in “prohibited transactions” may limit our ability to engage in transactions which would be treated as sales for U.S. federal income tax purposes
6. 46Dividends payable by REITs do not qualify for the reduced tax rates available for some dividends