Is Kimco Realty Corp. overvalued or undervalued?

As of 31 October 2025, the valuation grade for Kimco Realty Corp. moved from fair to very attractive, indicating a positive shift in its perceived value. The company appears to be undervalued, supported by a P/E ratio of 26, a PEG ratio of 0.62, and an EV to EBITDA ratio of 10.91, which are favorable compared to its peers. For instance, Ventas, Inc. has a significantly higher P/E of 105.02, while Essex Property Trust, Inc. shows a lower P/E of 22.13, further highlighting Kimco's relative attractiveness.
Despite the positive valuation metrics, Kimco Realty Corp. has underperformed against the S&P 500 in recent periods, with a year-to-date return of -11.82% compared to the S&P 500's 16.30%. This underperformance is notable, especially given the company's strong dividend yield of 432.18% and a solid ROCE of 6.52%, suggesting that while the stock may be undervalued, market sentiment has not yet reflected this potential.