Kimco Realty (NYSE:KIM) Announces Quarterly Earnings Results

Kimco Realty (NYSE:KIM) posted its earnings results on Thursday. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.23), Zacks reports. The firm had revenue of $500.20 million during the quarter, compared to the consensus estimate of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. Kimco Realty’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. Kimco Realty updated its FY 2024 guidance to 1.600-1.620 EPS and its FY24 guidance to $1.60-$1.62 EPS.

Kimco Realty Stock Down 0.4 %

Shares of KIM stock traded down $0.08 during trading hours on Friday, reaching $21.93. The company had a trading volume of 4,591,199 shares, compared to its average volume of 4,417,856. Kimco Realty has a 12 month low of $16.34 and a 12 month high of $22.83. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 1.86. The business has a fifty day simple moving average of $19.76 and a 200-day simple moving average of $19.43. The company has a market cap of $14.78 billion, a price-to-earnings ratio of 41.38, a price-to-earnings-growth ratio of 4.23 and a beta of 1.51.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be issued a $0.24 dividend. The ex-dividend date is Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.38%. Kimco Realty’s dividend payout ratio is presently 181.14%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Mizuho decreased their target price on Kimco Realty from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a research note on Friday. JPMorgan Chase & Co. raised their price objective on Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Truist Financial reduced their price objective on Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Monday, May 20th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.98.

About Kimco Realty

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.