Equities research analysts expect that Kimco Realty Corp (NYSE:KIM) will report $281.56 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Kimco Realty’s earnings. The lowest sales estimate is $277.46 million and the highest is $283.90 million. Kimco Realty posted sales of $284.20 million during the same quarter last year, which suggests a negative year over year growth rate of 0.9%. The company is expected to announce its next earnings report before the market opens on Thursday, January 30th.
According to Zacks, analysts expect that Kimco Realty will report full year sales of $1.13 billion for the current fiscal year, with estimates ranging from $1.12 billion to $1.15 billion. For the next year, analysts forecast that the company will post sales of $1.15 billion, with estimates ranging from $1.13 billion to $1.17 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Kimco Realty.
Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.22). The business 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 for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share.
A number of analysts recently commented on KIM shares. Compass Point upgraded shares of Kimco Realty from a “sell” rating to a “neutral” rating and set a $22.00 target price for the company in a research note on Monday, November 25th. ValuEngine upgraded Kimco Realty from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 30th. Capital One Financial cut Kimco Realty from an “overweight” rating to an “equal weight” rating and set a $21.00 price objective on the stock. in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut Kimco Realty from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $22.00 to $21.00 in a report on Wednesday, December 18th. Finally, TheStreet upgraded Kimco Realty from a “c+” rating to a “b-” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $19.97.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Kimco Realty by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 69,187,786 shares of the real estate investment trust’s stock worth $1,278,592,000 after purchasing an additional 1,140,383 shares during the period. State Street Corp increased its stake in shares of Kimco Realty by 5.4% during the third quarter. State Street Corp now owns 33,080,708 shares of the real estate investment trust’s stock worth $690,725,000 after acquiring an additional 1,709,694 shares during the period. Invesco Ltd. increased its stake in shares of Kimco Realty by 5.0% during the second quarter. Invesco Ltd. now owns 9,925,026 shares of the real estate investment trust’s stock worth $183,414,000 after acquiring an additional 471,002 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in shares of Kimco Realty by 80.5% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 4,841,819 shares of the real estate investment trust’s stock worth $762,014,000 after acquiring an additional 2,159,780 shares during the period. Finally, Menora Mivtachim Holdings LTD. increased its stake in shares of Kimco Realty by 108.7% during the third quarter. Menora Mivtachim Holdings LTD. now owns 3,779,600 shares of the real estate investment trust’s stock worth $78,918,000 after acquiring an additional 1,969,000 shares during the period. Institutional investors and hedge funds own 89.45% of the company’s stock.
Shares of KIM traded down $0.02 during mid-day trading on Monday, hitting $20.23. 58,099 shares of the company traded hands, compared to its average volume of 3,283,364. Kimco Realty has a 1-year low of $16.06 and a 1-year high of $21.86. The company has a market capitalization of $8.46 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 3.27 and a beta of 0.55. The business has a 50 day moving average of $20.54 and a 200 day moving average of $19.95.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date was Tuesday, December 31st. Kimco Realty’s dividend payout ratio (DPR) is 77.24%.
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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