Wall Street brokerages expect Kimco Realty Corp (NYSE:KIM) to report earnings per share of $0.35 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Kimco Realty’s earnings, with estimates ranging from $0.32 to $0.36. Kimco Realty reported earnings per share of $0.38 in the same quarter last year, which would indicate a negative year over year growth rate of 7.9%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, October 25th.
According to Zacks, analysts expect that Kimco Realty will report full-year earnings of $1.45 per share for the current year, with EPS estimates ranging from $1.44 to $1.47. For the next financial year, analysts anticipate that the company will report earnings of $1.46 per share, with EPS estimates ranging from $1.37 to $1.51. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Kimco Realty.
Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, July 26th. The real estate investment trust reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. The firm had revenue of $293.40 million for the quarter, compared to analyst estimates of $291.04 million. Kimco Realty had a return on equity of 9.40% and a net margin of 42.68%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.38 EPS.
A number of equities research analysts have recently weighed in on KIM shares. Sandler O’Neill reiterated a “hold” rating and issued a $18.00 price objective on shares of Kimco Realty in a research report on Friday, July 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $17.00 price objective on shares of Kimco Realty in a research report on Friday, July 27th. ValuEngine lowered Kimco Realty from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. JPMorgan Chase & Co. upgraded Kimco Realty from a “neutral” rating to an “overweight” rating in a research report on Friday, June 15th. Finally, Wells Fargo & Co lifted their price objective on Kimco Realty from $16.00 to $17.00 and gave the stock a “market perform” rating in a research report on Monday, July 30th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $18.15.
Shares of KIM stock traded up $0.26 during trading hours on Wednesday, reaching $17.22. The company’s stock had a trading volume of 7,527,700 shares, compared to its average volume of 4,565,869. The firm has a market cap of $7.21 billion, a P/E ratio of 11.11, a P/E/G ratio of 3.70 and a beta of 0.38. Kimco Realty has a one year low of $13.16 and a one year high of $20.63. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.09 and a current ratio of 0.09.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Tuesday, October 2nd will be given a dividend of $0.28 per share. The ex-dividend date is Monday, October 1st. This represents a $1.12 annualized dividend and a dividend yield of 6.50%. Kimco Realty’s dividend payout ratio is presently 72.26%.
In other news, Director Philip E. Coviello, Jr. purchased 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were bought at an average cost of $16.46 per share, for a total transaction of $90,530.00. Following the completion of the transaction, the director now directly owns 52,965 shares of the company’s stock, valued at approximately $871,803.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning bought a new stake in shares of Kimco Realty during the second quarter valued at approximately $172,000. Virtu Financial LLC purchased a new position in Kimco Realty during the second quarter valued at $173,000. Bfsg LLC purchased a new position in Kimco Realty during the first quarter valued at $190,000. Advisor Partners LLC purchased a new position in Kimco Realty during the second quarter valued at $192,000. Finally, Goodwin Daniel L purchased a new position in Kimco Realty during the second quarter valued at $204,000. Institutional investors own 86.23% of the company’s stock.
About Kimco Realty
Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America's largest publicly traded owners and operators of open-air shopping centers. As of June 30, 2018, the company owned interests in 460 U.S. shopping centers comprising 79 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
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