Kimco Realty Corp (NYSE:KIM) Announces Quarterly Dividend of $0.24

Kimco Realty Corp (NYSE:KIM) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Thursday, September 5th will be given a dividend of 0.24 per share by the real estate investment trust on Thursday, September 19th. This represents a $0.96 annualized dividend and a yield of 4.42%. The ex-dividend date is Thursday, September 5th.

Kimco Realty has increased its dividend by an average of 19.9% annually over the last three years. Kimco Realty has a payout ratio of 143.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Kimco Realty to earn $1.67 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 57.5%.

Kimco Realty Stock Performance

Shares of KIM traded down $0.27 during mid-day trading on Friday, reaching $21.74. 962,253 shares of the company’s stock were exchanged, compared to its average volume of 4,853,500. The business’s fifty day simple moving average is $19.69 and its 200-day simple moving average is $19.43. The stock has a market capitalization of $14.66 billion, a PE ratio of 41.59, a price-to-earnings-growth ratio of 4.19 and a beta of 1.51. Kimco Realty has a 52-week low of $16.34 and a 52-week high of $22.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.86 and a quick ratio of 1.86.

Analyst Ratings Changes

KIM has been the topic of several research reports. Piper Sandler reissued an “overweight” rating and set a $29.00 price objective (up from $26.00) on shares of Kimco Realty in a research report on Friday. Robert W. Baird dropped their price target on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, April 4th. 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 research report on Monday, May 20th. Mizuho dropped their target price on Kimco Realty from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Finally, Bank of America reaffirmed a “neutral” rating and set a $20.00 price target (down from $24.00) on shares of Kimco Realty in a report on Friday, April 5th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Kimco Realty currently has a consensus rating of “Hold” and a consensus price target of $21.80.

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.