Kimco Realty (NYSE:KIM) Releases FY 2024 Earnings Guidance

Kimco Realty (NYSE:KIM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.640-1.650 for the period, compared to the consensus EPS estimate of 1.620. The company issued revenue guidance of -.

Kimco Realty Price Performance

Shares of KIM stock opened at $24.02 on Thursday. Kimco Realty has a 1 year low of $17.31 and a 1 year high of $24.67. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average is $23.44 and its 200-day moving average is $21.02. The firm has a market capitalization of $16.19 billion, a price-to-earnings ratio of 45.32, a PEG ratio of 4.10 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.23). The firm had revenue of $500.20 million for the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 EPS. Sell-side analysts forecast that Kimco Realty will post 1.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Raymond James raised shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research note on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their target price on shares of Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Robert W. Baird raised their price target on Kimco Realty from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Kimco Realty presently has an average rating of “Moderate Buy” and an average price target of $23.55.

Insider Buying and Selling at Kimco Realty

In related news, COO David Jamieson sold 50,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the transaction, the chief operating officer now directly owns 337,111 shares in the company, valued at approximately $7,389,473.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.20% of the company’s stock.

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.