Kimco Realty Corporation (KIM) Increases Dividend to $0.28 Per Share

Kimco Realty Corporation (NYSE:KIM) declared a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Stockholders of record on Tuesday, January 2nd will be paid a dividend of 0.28 per share by the real estate investment trust on Tuesday, January 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date of this dividend is Friday, December 29th. This is an increase from Kimco Realty Corporation’s previous quarterly dividend of $0.27.

Kimco Realty Corporation has raised its dividend payment by an average of 6.7% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Kimco Realty Corporation has a dividend payout ratio of 72.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kimco Realty Corporation to earn $1.59 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 70.4%.

Shares of Kimco Realty Corporation (NYSE:KIM) traded up $0.08 on Friday, reaching $19.15. The company’s stock had a trading volume of 3,425,300 shares, compared to its average volume of 4,428,495. Kimco Realty Corporation has a 1 year low of $17.02 and a 1 year high of $26.63. The company has a market cap of $8,117.21, a price-to-earnings ratio of 12.63, a P/E/G ratio of 2.21 and a beta of 0.65. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.08 and a quick ratio of 0.08.

Kimco Realty Corporation (NYSE:KIM) last announced its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). Kimco Realty Corporation had a return on equity of 7.73% and a net margin of 35.51%. The business had revenue of $290.92 million during the quarter, compared to analysts’ expectations of $295.34 million. During the same quarter in the previous year, the firm earned $0.38 EPS. Kimco Realty Corporation’s quarterly revenue was up 4.2% on a year-over-year basis. analysts expect that Kimco Realty Corporation will post 1.55 earnings per share for the current year.

KIM has been the topic of several research analyst reports. BMO Capital Markets started coverage on Kimco Realty Corporation in a research note on Monday, September 11th. They issued a “market perform” rating and a $21.00 price objective on the stock. Mizuho restated a “hold” rating and set a $19.00 target price on shares of Kimco Realty Corporation in a research report on Monday, October 9th. Citigroup Inc. increased their target price on Kimco Realty Corporation from $19.50 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, August 14th. Boenning Scattergood reaffirmed a “hold” rating on shares of Kimco Realty Corporation in a report on Friday, October 27th. Finally, J P Morgan Chase & Co raised shares of Kimco Realty Corporation from a “neutral” rating to an “overweight” rating and set a $24.00 price target on the stock in a report on Tuesday, September 26th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $24.25.

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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.

Dividend History for Kimco Realty Corporation (NYSE:KIM)

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