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

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

Kimco Realty Price Performance

NYSE KIM traded up $0.11 on Friday, hitting $23.83. 3,614,313 shares of the company’s stock were exchanged, compared to its average volume of 4,596,229. The stock has a 50-day moving average of $23.47 and a 200-day moving average of $21.08. The stock has a market cap of $16.06 billion, a price-to-earnings ratio of 44.13, a P/E/G ratio of 4.09 and a beta of 1.50. Kimco Realty has a 52 week low of $17.51 and a 52 week 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.

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

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.25 dividend. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.20%. The ex-dividend date is Thursday, December 5th. Kimco Realty’s dividend payout ratio is 177.78%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KIM. Wells Fargo & Company increased their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Truist Financial lifted their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Piper Sandler reaffirmed an “overweight” rating and set a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Robert W. Baird lifted their price objective on Kimco Realty from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Argus upgraded Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.55.

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.