Wall Street analysts expect that Kimco Realty Corporation (NYSE:KIM) will announce earnings per share (EPS) of $0.39 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Kimco Realty Corporation’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.43. Kimco Realty Corporation reported earnings per share of ($0.13) during the same quarter last year, which suggests a positive year-over-year growth rate of 400%. The business is expected to report its next quarterly earnings results after the market closes on Wednesday, October 25th.
According to Zacks, analysts expect that Kimco Realty Corporation will report full-year earnings of $1.53 per share for the current year, with EPS estimates ranging from $1.50 to $1.63. For the next fiscal year, analysts forecast that the company will report earnings of $1.60 per share, with EPS estimates ranging from $1.57 to $1.63. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Kimco Realty Corporation.
Kimco Realty Corporation (NYSE:KIM) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.07. The firm had revenue of $292.84 million for the quarter, compared to the consensus estimate of $290.95 million. Kimco Realty Corporation had a return on equity of 4.68% and a net margin of 21.77%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share.
A number of research analysts have weighed in on KIM shares. Citigroup Inc. reduced their price target on shares of Kimco Realty Corporation from $26.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, May 9th. Zacks Investment Research upgraded shares of Kimco Realty Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. ValuEngine downgraded shares of Kimco Realty Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Kimco Realty Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Kimco Realty Corporation from a “sell” rating to a “neutral” rating and set a $18.70 price objective for the company in a report on Tuesday, June 20th. Ten research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.54.
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In other news, Director Philip E. Coviello, Jr. acquired 20,000 shares of Kimco Realty Corporation stock in a transaction dated Monday, June 5th. The shares were acquired at an average cost of $17.37 per share, for a total transaction of $347,400.00. Following the acquisition, the director now owns 41,045 shares of the company’s stock, valued at $712,951.65. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of KIM. BlackRock Inc. increased its position in shares of Kimco Realty Corporation by 2,779.7% in the first quarter. BlackRock Inc. now owns 39,861,866 shares of the real estate investment trust’s stock valued at $880,549,000 after buying an additional 38,477,627 shares during the last quarter. Hamlin Capital Management LLC acquired a new position in shares of Kimco Realty Corporation during the second quarter valued at about $57,217,000. JPMorgan Chase & Co. increased its position in shares of Kimco Realty Corporation by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 35,695,241 shares of the real estate investment trust’s stock valued at $788,509,000 after buying an additional 2,483,036 shares during the last quarter. FMR LLC increased its position in shares of Kimco Realty Corporation by 24.5% in the second quarter. FMR LLC now owns 12,220,784 shares of the real estate investment trust’s stock valued at $224,251,000 after buying an additional 2,408,799 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Kimco Realty Corporation by 207.3% in the first quarter. Renaissance Technologies LLC now owns 2,456,829 shares of the real estate investment trust’s stock valued at $54,271,000 after buying an additional 1,657,434 shares during the last quarter. 88.97% of the stock is currently owned by institutional investors.
Shares of Kimco Realty Corporation (KIM) opened at 19.62 on Friday. The company has a market capitalization of $8.35 billion, a PE ratio of 39.96 and a beta of 0.67. The firm’s 50-day moving average price is $19.72 and its 200 day moving average price is $20.43. Kimco Realty Corporation has a one year low of $17.02 and a one year high of $30.70.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Wednesday, October 4th will be given a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.08 annualized dividend and a yield of 5.50%. Kimco Realty Corporation’s dividend payout ratio is presently 220.41%.
Kimco Realty Corporation Company Profile
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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