Brokerages expect Kimco Realty Corp (NYSE:KIM) to announce $0.36 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Kimco Realty’s earnings. The lowest EPS estimate is $0.35 and the highest is $0.38. Kimco Realty reported earnings per share of $0.37 in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.7%. The company is expected to issue its next earnings report before the market opens on Thursday, July 25th.
On average, analysts expect that Kimco Realty will report full-year earnings of $1.46 per share for the current year, with EPS estimates ranging from $1.44 to $1.48. For the next fiscal year, analysts anticipate that the business will report earnings of $1.52 per share, with EPS estimates ranging from $1.50 to $1.54. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Kimco Realty.
Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). The business had revenue of $295.00 million for the quarter, compared to analysts’ expectations of $282.49 million. Kimco Realty had a return on equity of 8.37% and a net margin of 39.40%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 EPS.
A number of equities analysts have issued reports on KIM shares. Zacks Investment Research upgraded Kimco Realty from a “sell” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Wednesday, May 1st. Raymond James downgraded Kimco Realty from an “outperform” rating to a “market perform” rating and set a $18.17 price target on the stock. in a research report on Tuesday. Finally, Evercore ISI downgraded Kimco Realty from an “in-line” rating to an “underperform” rating in a research report on Monday, April 1st. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $17.83.
In other Kimco Realty news, Director Richard B. Saltzman sold 5,500 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $18.39, for a total transaction of $101,145.00. Following the completion of the transaction, the director now owns 81,335 shares of the company’s stock, valued at $1,495,750.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David Jamieson sold 16,435 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $18.33, for a total value of $301,253.55. Following the transaction, the chief operating officer now directly owns 94,211 shares of the company’s stock, valued at approximately $1,726,887.63. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Cresset Asset Management LLC acquired a new position in shares of Kimco Realty during the first quarter valued at approximately $25,000. Liberty Wealth Management LLC acquired a new position in shares of Kimco Realty during the fourth quarter valued at approximately $30,000. CSat Investment Advisory L.P. raised its holdings in shares of Kimco Realty by 35.2% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,176 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 566 shares during the last quarter. Legacy Bridge LLC acquired a new position in shares of Kimco Realty during the first quarter valued at approximately $43,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of Kimco Realty by 29.9% during the first quarter. Quadrant Capital Group LLC now owns 2,889 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 665 shares during the last quarter. 90.07% of the stock is owned by institutional investors and hedge funds.
Shares of KIM stock opened at $17.42 on Tuesday. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 3.01 and a beta of 0.61. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.92. Kimco Realty has a 12-month low of $14.29 and a 12-month high of $18.64.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.43%. Kimco Realty’s payout ratio is currently 77.24%.
Kimco Realty Company Profile
Kimco Realty Corp. 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 December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
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