Kimco Realty (NYSE:KIM) Releases Earnings Results, Misses Estimates By $0.23 EPS

Kimco Realty (NYSE:KIM) posted its quarterly earnings data on Thursday. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23), Zacks reports. The firm had revenue of $500.20 million for the quarter, compared to the consensus estimate 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 quarter in the previous 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 Performance

Shares of KIM traded down $0.08 during mid-day trading on Friday, reaching $21.93. The company’s stock had a trading volume of 4,591,199 shares, compared to its average volume of 4,417,856. Kimco Realty has a 1-year low of $16.34 and a 1-year high of $22.83. The stock has a market cap of $14.78 billion, a P/E ratio of 41.38, a PEG ratio of 4.23 and a beta of 1.51. The business has a 50-day simple moving average of $19.76 and a two-hundred day simple moving average of $19.43. The company has a current ratio of 1.73, a quick ratio of 1.86 and a debt-to-equity ratio of 0.72.

Kimco Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be given 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 payout ratio is 181.14%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Truist Financial decreased their price objective on Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a report on Monday, May 20th. JPMorgan Chase & Co. increased their price objective on Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday. Mizuho decreased their price target 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. Finally, Piper Sandler restated an “overweight” rating and issued a $29.00 price target (up from $26.00) on shares of Kimco Realty in a research note on Friday. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.