** Kimco Realty's KIM.N shares up 1.7% at $25.81 and hit over four-year high on Thurs after above-target raise

** KIM rises as much as 2% to $25.90, highest since Apr 2022

** Grocery-anchored shopping center REIT early Thurs announced pricing private offering of $525 mln 3.5% exchangeable notes due 2031

** Offering size increased from $500 mln; initial exchange price set at $32.36, 27.5% premium to stock's last close

** It intends to use net offering proceeds for general purposes, including debt repayment, and funding acquisition, investment and redevelopment opportunities

** It also plans to use about $104 mln to repurchase its shares to facilitate hedging by investors in the exchangeable notes

** With the advance, stock up 27% YTD compared to 12% gain in S&P 500 Real Estate sector .SPLRCR and 6.5% rise in S&P 500 index .SPX

** Avg rating of 23 analysts is "buy"; median PT $25, per latest LSEG data