3 paragraphs in Risk Factors of the 10-K filed Feb 20, 2026
with nothing like them in the 10-K filed Feb 21, 2025. Quoted exactly.
Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 29 Real estate companies:
a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it.
A paragraph most of them have is marked boilerplate. No line means no other company has one like it.
This counts text; it does not say how serious a risk is.
•changes in property taxes including from impacts of inflation as property values are reassessed;
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The Company is required under generally accepted accounting principles in the United States of America (“GAAP”) to provide allowances for credit losses, under the current expected credit loss model (“CECL”), on certain financial assets carried at amortized cost, such as loans held-for-investment and held-to-maturity debt securities, including related future funding commitments and accrued interest receivable. The measurement of expected credit losses is based on information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. This measurement takes place at the time the financial asset is first added to the balance sheet and updated quarterly thereafter. This differs significantly from the “incurred loss” model previously required under GAAP, which delayed recognition until it was probable a loss had been incurred. The CECL model has affected, and will continue to affect, how we determine our credit loss provision and has required us, and could continue to require us, to significantly increase our allowance for credit losses and recognize provisions for credit losses earlier in the lending cycle. Moreover, the CECL model creates more volatility in the level of our credit loss provisions. If we are required to materially increase our future level of credit loss allowances for any reason, such increase could adversely affect our business, results of operations and financial condition.
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In addition, federal and state governments and agencies have enacted, and continue to develop, broad data protection legislation, regulations, and guidance that require companies to increasingly implement, monitor and enforce reasonable cybersecurity measures.
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New in the latest 10-Q
30 paragraphs in the 10-Q filed Oct 29, 2026 with nothing like
them in the 10-Q filed Aug 4, 2026 (at least half the words must differ; new numbers alone do not count).
Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
10-Q
Under this ASU, the initial allowance for credit losses recorded upon the acquisition of loans in scope is recognized as an adjustment to the amortized cost basis of the loan - similar to the PCD model. For these loans, the “day-one” credit loss estimate does not impact earnings immediately but rather is amortized over time as an adjustment to interest income. Subsequent changes in the allowance for credit losses are reported in earnings within credit loss expense. The amendments should be...
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Foreign currency-denominated debt designated as a hedging instrument and a hedged item
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The amendments should be applied prospectively, and there are transition provisions designed to assist in migrating existing hedging relationships to the new guidance.
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in income of joint ventures, net on the Condensed Consolidated Statements of Income. The Company previously held an ownership interest of 15.0% in this property interest and acquired the remaining 85.0% interest in this operating property. See Footnote 4 of the Notes to the Condensed Consolidated Financial Statements.
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The Company utilized an aggregate $ 37.8 million associated with Internal Revenue Code 26 U.S.C. §1031 sales proceeds.
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The purchase price for these acquisitions was allocated to real estate and related intangible assets acquired and liabilities assumed, as applicable, in accordance with our accounting policies for asset acquisitions. The purchase price allocation for properties acquired/consolidated during the nine months ended September 30, 2026 and 2025 were as follows (in thousands):
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Allocation as of Weighted Average Useful Life (in Years) Allocation as of Weighted Average Useful Life (in Years)
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Assets Held-For-Sale At September 30, 2026, the Company had an operating property classified as held-for-sale at a net carrying amount of $2.5 million (including accumulated depreciation and amortization of $7.0 million), which is included in Other assets on the Company’s Condensed Consolidated Balance Sheets.
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During the nine months ended September 30, 2025, the Company acquired the remaining 85.0% interest in an operating property from the Prudential Investment Program, with an aggregate gross fair value of $77.2 million. The Company evaluated this transaction pursuant to ASC Topic 810 Consolidation and, as a result, recognized a net gain on change in control of interest of $5.7 million resulting from the fair value adjustment associated with the Company’s previously held equity interest. See Footnote 3 of the Notes to Condensed Consolidated Financial Statements for the operating property acquired by the Company.
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The table below presents debt balances within the Company’s unconsolidated joint venture investments for which the Company held noncontrolling ownership interests at September 30, 2026 and December 31, 2025 (dollars in millions):
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Joint Venture Mortgages Weighted Average Weighted Average Mortgages Weighted Average Weighted Average
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7. Accounts and Other Receivables The components of accounts and other receivables, net of potentially uncollectible amounts as of September 30, 2026 and December 31, 2025, were as follows (in thousands): As of September 30, 2026 As of December 31, 2025 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── Billed tenant receivables $ 2,227 $ 18,242 Unbilled common area maintenance, insurance and tax reimbursements 73,985 76,113 Other receivables 13,575 11,500 Straight-line rent receivables 284,148 263,109 Total accounts and other receivables, net $ 373,935 $ 368,964
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During the nine months ended September 30, 2026 and 2025, the Company fully repaid the following notes payable (dollars in millions):
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The majority of the operations of these VIEs are funded with cash flows generated from the properties. The Company has not provided financial support to any of these VIEs that it was not previously contractually required to provide, which consists primarily of funding any capital expenditures, including tenant improvements, which are deemed necessary to continue to operate the entity and any operating cash shortfalls that the entity may experience.
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All liabilities of these consolidated VIEs are non-recourse to the Company (“VIE Liabilities”). The assets of the unencumbered VIEs are not restricted for use to settle only the obligations of these VIEs. The remaining VIE assets are encumbered by third-party non-recourse mortgage debt. The assets associated with these encumbered VIEs (“Restricted Assets”) are collateral under the respective mortgages and are therefore restricted and can only be used to settle the corresponding liabilities of the VIE. The table below summarizes the consolidated VIEs and the classification of the Restricted Assets and VIE Liabilities on the Company’s Condensed Consolidated Balance Sheets are as follows (dollars in millions):
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Volatility is based on the annualized standard deviation of the daily logarithmic returns on dividend-adjusted closing prices over the look-back period based on the term of the award.
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Share ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── Class L 10,350 8,902 $ 222,543 5.125% $1.28125 $1.00 8/16/2022 Class M 10,580 10,465 261,636 5.250% $1.31250 $1.00 12/20/2022 Class N 1,849 1,381 69,017 7.250% $3.62500 $1.00 N/A 20,748 $ 553,196 At September 30, 2026, the Class N Preferred Stock depositary shares are convertible by the holders at an exchange ratio of 2.3087 into the Company’s common shares or under certain circumstances by the Company’s election, which is subject to adjustment upon occurrence of certain events. As of September 30, 2026, the Class N Preferred Stock was potentially convertible into 1.4 million shares of common stock. The Company’s Class L and Class M Preferred Stock are not convertible or exchangeable for any other securities or property of the Company. During January 2024, the Company’s Board of Directors authorized the repurchase of up to 891,000 depositary shares of Class L Preferred Stock, 1,047,000 depositary shares of Class M Preferred Stock, and 185,000 depositary shares of Class N Preferred Stock. During January 2026, the Company’s Board of Directors amended this authorization to be perpetual, eliminating its expiration date. As of September 30, 2026, the Company had 167,999 depositary shares of Class L Preferred Stock, 277,480 depositary shares of Class M Preferred Stock, and 126,578 depositary shares of Class N Preferred Stock available to repurchase under this preferred stock repurchase authorization. During the nine months ended September 30, 2026, the Company repurchased the following preferred stock: Class of Preferred Stock Depositary Shares Purchase Price Redemption Gain/(Loss)
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In connection with the repurchase of 516,750 Class N depositary shares, the Company issued 549,250 common shares for net proceeds of $13.8 million. All of the 753,707 Class N depositary shares repurchased in the table above and the 549,250 common shares issued were separately authorized by the Company’s Board of Directors and not part of the Company’s publicly announced programs or previous authorizations.
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The Class L, M and N Preferred Stock rank pari passu as to voting rights, priority for receiving dividends and liquidation preference as set forth below.
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• $115.5 million for acquisition of two operating properties and a leasehold interest; and
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Class of Preferred Stock Depositary Shares Purchase Price Redemption Gain/(Loss)
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In connection with the repurchase of 516,750 Class N depositary shares, the Company issued 549,250 common shares for net proceeds of $13.8 million. All of the 753,707 Class N depositary shares repurchased in the table above and the 549,250 common shares issued were separately authorized by the Company’s Board of Directors and not part of the Company’s publicly announced programs or previous authorizations.
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During the nine months ended September 30, 2026, the Company fully repaid the following notes payable (dollars in millions):
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In June 2026, the Company issued $600.0 million in exchangeable senior notes (the “Exchangeable Senior Notes”), including $75.0 million of option notes issued pursuant to an option granted to the initial purchasers, which was exercised in full. The Exchangeable
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Risk Factors
Depositary Shares Purchased Paid per Share Shares Purchased that May Yet Be Purchased
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Depositary Shares Purchased Paid per Share Shares Purchased that May Yet Be Purchased
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Depositary Shares Purchased Paid per Share Shares Purchased that May Yet Be Purchased
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In connection with the repurchase of 516,750 of Class N depositary shares, the Company issued 549,250 common shares for net proceeds of $13.8 million. All of the 753,707 Class N depositary shares repurchased in the table above and the 549,250 common shares issued
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were separately authorized by the Company’s Board of Directors and not part of the Company’s publicly announced programs or previous authorizations.
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Item 6
10.1* Amendment to Kimco Realty Corporation 2025 Equity Participation Plan 31.1* Certification of the Chief Executive Officer of Kimco Realty Corporation, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
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The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Oct 29, 2026 against Item 1A of the 10-K filed Feb 20, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
What the 10-Q itself says about its risk factors:
As of the date of this report, there are no material changes to our risk factors as previously disclosed in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025.
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Added10-Q 2026-10-29 vs 10-K 2026-02-20
During January 2024, the Company’s Board of Directors authorized the repurchase of up to 891,000 depositary shares of Class L Preferred Stock, 1,047,000 depositary shares of Class M Preferred Stock, and 185,000 depositary shares of Class N Preferred Stock. During January 2026, the Company’s Board of Directors amended this authorization to be perpetual, eliminating its expiration date. As of September 30, 2026, the Company had 167,999 depositary shares of Class L Preferred Stock, 277,480 depositary shares of Class M Preferred Stock, and 126,578 depositary shares of Class N Preferred Stock available to repurchase under this preferred stock repurchase authorization.
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Added10-Q 2026-10-29 vs 10-K 2026-02-20
During the three months ended September 30, 2026, the Company repurchased the following Class L depositary shares:
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Added10-Q 2026-10-29 vs 10-K 2026-02-20
Depositary Shares Purchased Paid per Share Shares Purchased that May Yet Be Purchased
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Added10-Q 2026-10-29 vs 10-K 2026-02-20
During the three months ended September 30, 2026, the Company repurchased the following Class M depositary shares:
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Added10-Q 2026-10-29 vs 10-K 2026-02-20
Depositary Shares Purchased Paid per Share Shares Purchased that May Yet Be Purchased
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Added10-Q 2026-10-29 vs 10-K 2026-02-20
During the three months ended September 30, 2026, the Company repurchased the following Class N depositary shares:
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Added10-Q 2026-10-29 vs 10-K 2026-02-20
Depositary Shares Purchased Paid per Share Shares Purchased that May Yet Be Purchased
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Added10-Q 2026-10-29 vs 10-K 2026-02-20
In connection with the repurchase of 516,750 of Class N depositary shares, the Company issued 549,250 common shares for net proceeds of $13.8 million. All of the 753,707 Class N depositary shares repurchased in the table above and the 549,250 common shares issued
Read it in the 10-Q at sec.gov ↗
Added10-Q 2026-10-29 vs 10-K 2026-02-20
were separately authorized by the Company’s Board of Directors and not part of the Company’s publicly announced programs or previous authorizations.
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Added10-Q 2026-10-29 vs 10-K 2026-02-20
During November 2025, the Company established a common share repurchase program. Under this program, the Company may repurchase shares of its common stock, par value $0.01 per share, with an aggregate gross purchase price of up to $750.0 million. This program does not expire. During the nine months ended September 30, 2026, the Company repurchased 6,322,103 shares of common stock for an aggregate purchase price of $150.5 million (weighted average price of $23.80 per share). As of September 30, 2026, the Company had $538.1 million available under this common share repurchase program.
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Added10-Q 2026-10-29 vs 10-K 2026-02-20
In addition to purchases under the common share repurchase program, in June 2026, separate from the repurchase program described above, the Company repurchased 4.1 million shares of common stock for a total purchase price of $104.7 million (at a price of $25.38 per share) using a portion of the proceeds from the Exchangeable Senior Notes offering.
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Added10-Q 2026-10-29 vs 10-K 2026-02-20
During the nine months ended September 30, 2026, the Company repurchased 286,181 shares of the Company’s common stock for an aggregate purchase price of $6.4 million (weighted average price of $22.34 per share) in connection with shares of common stock surrendered or deemed surrendered to the Company to satisfy statutory minimum tax withholding obligations in connection with equity-based compensation plans.
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The first 12 of 14 are shown (at most 12 of each type).
