FY2024 EPS Estimates for Kimco Realty Corp Reduced by Analyst (NYSE:KIM)

Kimco Realty Corp (NYSE:KIM – Get Rating) – Equities research analysts at Jefferies Financial Group lowered their FY2024 earnings estimates for Kimco Realty in a report released on Thursday, April 14th. Jefferies Financial Group analyst L. Tsai now expects that the real estate investment trust will post earnings per share of $1.63 for the year, down from their previous estimate of $1.64. Jefferies Financial Group has a “Buy” rating and a $29.00 price target on the stock.

Kimco Realty (NYSE:KIM – Get Rating) last posted its quarterly earnings results on Thursday, February 10th. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Kimco Realty had a net margin of 61.39% and a return on equity of 10.55%. The company had revenue of $424.65 million during the quarter, compared to analyst estimates of $375.81 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 57.6% on a year-over-year basis.

KIM has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft downgraded shares of Kimco Realty from a “buy” rating to a “hold” rating and raised their price target for the company from $24.00 to $26.00 in a research note on Monday, January 3rd. Mizuho raised their price objective on shares of Kimco Realty from $26.00 to $27.00 in a report on Thursday, January 20th. Argus upgraded shares of Kimco Realty from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, January 5th. Morgan Stanley lowered shares of Kimco Realty from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $26.00 to $26.50 in a report on Wednesday, March 30th. Finally, StockNews.com upgraded shares of Kimco Realty from a “sell” rating to a “hold” rating in a report on Friday, April 8th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Kimco Realty currently has a consensus rating of “Buy” and an average target price of $26.10.

KIM opened at $25.13 on Friday. The company’s 50 day moving average is $24.06 and its 200-day moving average is $23.65. Kimco Realty has a 1-year low of $19.07 and a 1-year high of $25.62. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.74. The company has a market cap of $15.53 billion, a P/E ratio of 15.81, a PEG ratio of 1.98 and a beta of 1.49.

Several large investors have recently added to or reduced their stakes in the company. Ritholtz Wealth Management raised its holdings in shares of Kimco Realty by 5.4% in the 1st quarter. Ritholtz Wealth Management now owns 45,293 shares of the real estate investment trust’s stock worth $1,119,000 after acquiring an additional 2,316 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Kimco Realty by 0.8% during the 1st quarter. State of Alaska Department of Revenue now owns 389,587 shares of the real estate investment trust’s stock worth $9,621,000 after purchasing an additional 3,190 shares in the last quarter. Payden & Rygel raised its stake in shares of Kimco Realty by 11.8% in the first quarter. Payden & Rygel now owns 70,300 shares of the real estate investment trust’s stock worth $1,736,000 after purchasing an additional 7,400 shares during the last quarter. Redpoint Investment Management Pty Ltd lifted its holdings in shares of Kimco Realty by 11.7% in the first quarter. Redpoint Investment Management Pty Ltd now owns 49,891 shares of the real estate investment trust’s stock valued at $1,232,000 after purchasing an additional 5,235 shares in the last quarter. Finally, Old Port Advisors boosted its position in shares of Kimco Realty by 1.6% during the first quarter. Old Port Advisors now owns 123,102 shares of the real estate investment trust’s stock valued at $3,052,000 after buying an additional 1,979 shares during the last quarter. Institutional investors own 90.11% of the company’s stock.

In other news, Director Frank Lourenso sold 8,188 shares of Kimco Realty stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $23.45, for a total value of $192,008.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.10% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 24th. Stockholders of record on Thursday, March 10th were paid a $0.19 dividend. The ex-dividend date was Wednesday, March 9th. This represents a $0.76 annualized dividend and a dividend yield of 3.02%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.17. Kimco Realty’s payout ratio is currently 47.80%.

About Kimco Realty (Get Rating)

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.

Further Reading