Kimco Realty Corp (NYSE:KIM) Declares $0.24 Quarterly Dividend

Kimco Realty Corp (NYSE:KIM) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Thursday, September 5th will be paid a dividend of 0.24 per share by the real estate investment trust on Thursday, September 19th. This represents a $0.96 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Thursday, September 5th.

Kimco Realty has increased its dividend by an average of 19.9% per year over the last three years. Kimco Realty has a dividend payout ratio of 143.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Kimco Realty to earn $1.67 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 57.5%.

Kimco Realty Stock Down 1.2 %

Kimco Realty stock traded down $0.27 during midday trading on Friday, hitting $21.74. 962,253 shares of the company’s stock were exchanged, compared to its average volume of 4,853,500. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.86 and a current ratio of 1.86. The company has a market cap of $14.66 billion, a PE ratio of 41.59, a P/E/G ratio of 4.19 and a beta of 1.51. The firm has a 50-day moving average of $19.69 and a two-hundred day moving average of $19.43. Kimco Realty has a 12 month low of $16.34 and a 12 month high of $22.83.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on KIM shares. Truist Financial cut their price objective on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a report on Monday, May 20th. Mizuho reduced their price target on Kimco Realty from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Bank of America reaffirmed a “neutral” rating and set a $20.00 price objective (down previously from $24.00) on shares of Kimco Realty in a research report on Friday, April 5th. Robert W. Baird reduced their target price on shares of Kimco Realty from $23.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, April 4th. Finally, Piper Sandler restated an “overweight” rating and issued a $29.00 price target (up from $26.00) on shares of Kimco Realty in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.80.

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.