Brokerages Expect Kimco Realty Corp (NYSE:KIM) Will Post Quarterly Sales of $284.24 Million

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Brokerages expect Kimco Realty Corp (NYSE:KIM) to post sales of $284.24 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Kimco Realty’s earnings, with the highest sales estimate coming in at $289.12 million and the lowest estimate coming in at $277.46 million. Kimco Realty reported sales of $284.20 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0%. The firm is expected to report its next earnings report on Thursday, January 30th.

On average, analysts expect that Kimco Realty will report full year sales of $1.14 billion for the current financial year, with estimates ranging from $1.12 billion to $1.16 billion. For the next financial year, analysts forecast that the company will post sales of $1.16 billion, with estimates ranging from $1.15 billion to $1.19 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Kimco Realty.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.22). The company had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $281.51 million. Kimco Realty had a return on equity of 7.36% and a net margin of 33.95%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 EPS.

A number of equities analysts have weighed in on the company. TheStreet upgraded Kimco Realty from a “c+” rating to a “b-” rating in a report on Thursday, September 26th. Compass Point upgraded Kimco Realty from a “sell” rating to a “neutral” rating and set a $22.00 price target for the company in a report on Monday, November 25th. Capital One Financial cut Kimco Realty from an “overweight” rating to an “equal weight” rating and set a $21.00 price target for the company. in a report on Wednesday, October 23rd. Royal Bank of Canada cut Kimco Realty from an “outperform” rating to a “sector perform” rating and set a $19.00 price target for the company. in a report on Thursday, August 22nd. Finally, ValuEngine upgraded Kimco Realty from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $19.52.

NYSE KIM traded down $0.42 on Friday, reaching $21.20. The company had a trading volume of 152,850 shares, compared to its average volume of 3,270,578. The firm has a market capitalization of $9.13 billion, a PE ratio of 14.62, a P/E/G ratio of 3.64 and a beta of 0.56. Kimco Realty has a 1 year low of $14.29 and a 1 year high of $21.86. The firm has a 50-day moving average of $21.21 and a 200-day moving average of $19.44.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date is Tuesday, December 31st. Kimco Realty’s payout ratio is 77.24%.

In other Kimco Realty news, Director Richard B. Saltzman sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $20.06, for a total value of $100,300.00. Following the transaction, the director now directly owns 80,835 shares of the company’s stock, valued at approximately $1,621,550.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in KIM. Golden State Wealth Management LLC acquired a new stake in shares of Kimco Realty in the 3rd quarter valued at $28,000. Institutional & Family Asset Management LLC bought a new stake in Kimco Realty in the third quarter valued at approximately $51,000. NuWave Investment Management LLC grew its position in shares of Kimco Realty by 174.1% in the third quarter. NuWave Investment Management LLC now owns 2,582 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 1,640 shares during the last quarter. CSat Investment Advisory L.P. grew its position in shares of Kimco Realty by 24.5% in the second quarter. CSat Investment Advisory L.P. now owns 2,840 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 558 shares during the last quarter. Finally, Shulman DeMeo Asset Management LLC acquired a new stake in Kimco Realty during the third quarter worth approximately $200,000. 89.43% of the stock is currently owned by institutional investors.

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.

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