Ross Cooper on capital recycling
From Kimco Realty Corp ($KIM) Q4 2025 Earnings Call · · Castify Earnings Call
“We have identified a disposition pipeline of $300 million to $500 million primarily consisting of flat ground leases, lower growth multi-tenant centers, and non-income producing land and entitlements. We expect the blended cap rates from sales to be between 5% to 6%. Utilizing this low-cost source of capital, we anticipate acquiring a similar amount of shopping centers at cap rates roughly at 100 basis points higher at the midpoint.”
On , Ross Cooper, President, Chief Investment Officer & Director at Kimco Realty, spoke about capital recycling during Kimco Realty Corp ($KIM) Q4 2025 Earnings Call on Castify Earnings Call.
About Ross Cooper
Ross Cooper, president and chief investment officer of Kimco Realty, has been active on earnings calls and in media appearances discussing the company's performance and the broader open-air retail sector. On the company's Q1 2026 earnings call, Cooper stated that Kimco trades at a roughly 15% discount to its peer set and a discount to net asset value, and he described the company as a "compelling investment to the generalist." He noted that private capital formation is strong for grocery-anchored shopping centers, citing the acquisition of Whitestone REIT by Ares Management as evidence of a disconnect between private market valuations and public market pricing. Cooper also highlighted that Kimco achieved north of 5% and then north of 6% earnings growth without a cost of capital advantage, attributing this to organic internal growth. On the Q2 2025 earnings call, Cooper described the quarter as marked by uncertainty and volatility but said it presented opportunities for Kimco due to its investment strategy, balance sheet, and industry relationships. He reported an increase in deal flow after a slowdown in April and early May, with aggressively priced assets transacting and a competitive landscape for debt and equity. Cooper emphasized Kimco's use of ROFOs and ROFRs on its structured investment and joint venture programs, giving the company an "inside track" on a large volume of real estate. In a podcast interview, Cooper discussed Kimco's history, including an investment in the Albertsons supermarket chain that was monetized for over a billion dollars, and the company's stated goal of strengthening its balance sheet, which led to achieving an A- credit rating from all three agencies.