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

Kimco Realty (NYSE:KIM) posted its earnings results on Thursday. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23), Zacks reports. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The company had revenue of $500.20 million during the quarter, compared to the consensus estimate of $500.87 million. During the same period last year, the company posted $0.39 EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. 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 Down 0.4 %

NYSE:KIM traded down $0.08 during trading hours on Friday, hitting $21.93. 4,591,199 shares of the company traded hands, compared to its average volume of 4,417,856. The company has a quick ratio of 1.86, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The firm’s 50-day simple moving average is $19.76 and its 200-day simple moving average is $19.43. Kimco Realty has a one year low of $16.34 and a one year high of $22.83. The company has a market cap of $14.78 billion, a PE ratio of 41.38, a PEG ratio of 4.23 and a beta of 1.51.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Thursday, September 5th. Kimco Realty’s dividend payout ratio (DPR) is presently 181.14%.

Analyst Ratings Changes

Several research analysts have recently issued reports on KIM shares. Mizuho lowered their price objective 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. JPMorgan Chase & Co. increased their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday. Piper Sandler reissued an “overweight” rating and set a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a research report on Friday. Finally, Truist Financial decreased their target price on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a research report on Monday, May 20th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.98.

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.