Wall Street brokerages expect that Kimco Realty Corp (NYSE:KIM) will announce sales of $300.44 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Kimco Realty’s earnings, with estimates ranging from $295.28 million to $304.83 million. Kimco Realty reported sales of $297.03 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.1%. The business is expected to announce its next earnings results before the market opens on Thursday, February 15th.
On average, analysts expect that Kimco Realty will report full-year sales of $300.44 million for the current financial year, with estimates ranging from $1.16 billion to $1.19 billion. For the next financial year, analysts forecast that the company will report sales of $1.20 billion per share, with estimates ranging from $1.18 billion to $1.24 billion. Zacks’ sales 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 data on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.13). Kimco Realty had a net margin of 17.85% and a return on equity of 4.68%. The firm had revenue of $290.92 million during the quarter, compared to analyst estimates of $295.34 million. During the same period last year, the business earned $0.38 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year.
A number of analysts have recently weighed in on KIM shares. JPMorgan Chase & Co. raised shares of Kimco Realty from a “neutral” rating to an “overweight” rating and set a $24.00 price target for the company in a research report on Tuesday, September 26th. Mizuho reissued a “hold” rating and set a $19.00 price target on shares of Kimco Realty in a research report on Monday, October 9th. BMO Capital Markets set a $21.00 price target on shares of Kimco Realty and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Boenning Scattergood reissued a “hold” rating on shares of Kimco Realty in a research report on Friday, October 27th. Finally, Robert W. Baird reissued a “buy” rating and set a $23.00 price target on shares of Kimco Realty in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. Kimco Realty presently has a consensus rating of “Hold” and a consensus price target of $22.22.
Kimco Realty (NYSE:KIM) traded down $0.58 during mid-day trading on Wednesday, hitting $17.22. 5,301,100 shares of the stock were exchanged, compared to its average volume of 4,756,667. Kimco Realty has a twelve month low of $17.02 and a twelve month high of $25.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $7,280.00, a P/E ratio of 25.32, a P/E/G ratio of 2.15 and a beta of 0.66.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, December 29th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 6.50%. Kimco Realty’s dividend payout ratio (DPR) is 164.71%.
In other news, insider Milton Cooper acquired 50,000 shares of Kimco Realty stock in a transaction that occurred on Monday, December 4th. The shares were purchased at an average cost of $19.20 per share, for a total transaction of $960,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in KIM. Pacer Advisors Inc. lifted its stake in Kimco Realty by 8.4% during the second quarter. Pacer Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock worth $188,000 after purchasing an additional 790 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Kimco Realty by 1.3% during the second quarter. Principal Financial Group Inc. now owns 650,437 shares of the real estate investment trust’s stock worth $11,936,000 after purchasing an additional 8,226 shares during the last quarter. Schroder Investment Management Group lifted its stake in Kimco Realty by 34.1% during the second quarter. Schroder Investment Management Group now owns 89,879 shares of the real estate investment trust’s stock worth $1,686,000 after purchasing an additional 22,879 shares during the last quarter. Tredje AP fonden lifted its stake in Kimco Realty by 182.2% during the second quarter. Tredje AP fonden now owns 29,447 shares of the real estate investment trust’s stock worth $540,000 after purchasing an additional 19,011 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK lifted its stake in Kimco Realty by 2.0% during the second quarter. Aberdeen Asset Management PLC UK now owns 695,097 shares of the real estate investment trust’s stock worth $12,755,000 after purchasing an additional 13,346 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.
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About Kimco Realty
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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