Kimco Realty (NYSE:KIM) declared that its Board of Directors has initiated a share repurchase plan, which allows the company to buyback $300.00 million in outstanding shares on Thursday, February 15th, EventVestor reports. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Shares of Kimco Realty (NYSE KIM) opened at $15.25 on Wednesday. The company has a market capitalization of $6,470.00, a price-to-earnings ratio of 17.53, a P/E/G ratio of 2.25 and a beta of 0.46. The company has a current ratio of 0.10, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16. Kimco Realty has a 1 year low of $13.70 and a 1 year high of $24.75.
Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.21). The firm had revenue of $310.63 million for the quarter, compared to analysts’ expectations of $297.92 million. Kimco Realty had a net margin of 35.48% and a return on equity of 7.85%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 EPS. equities analysts forecast that Kimco Realty will post 1.44 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Tuesday, April 3rd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date of this dividend is Monday, April 2nd. Kimco Realty’s dividend payout ratio (DPR) is presently 128.74%.
A number of research analysts have recently issued reports on the company. Robert W. Baird reaffirmed a “buy” rating and set a $23.00 price target on shares of Kimco Realty in a report on Friday, November 10th. Mizuho set a $20.00 price target on Kimco Realty and gave the company a “hold” rating in a report on Monday, December 18th. Stifel Nicolaus assumed coverage on Kimco Realty in a report on Thursday, November 30th. They set a “hold” rating and a $19.50 price target on the stock. BMO Capital Markets set a $21.00 price target on Kimco Realty and gave the company a “hold” rating in a report on Wednesday, October 25th. Finally, JPMorgan Chase & Co. downgraded Kimco Realty from an “overweight” rating to a “neutral” rating and set a $20.00 price target on the stock. in a report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $20.81.
In other news, insider Milton Cooper acquired 50,000 shares of Kimco Realty stock in a transaction that occurred on Monday, December 4th. The stock was bought at an average price of $19.20 per share, for a total transaction of $960,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.
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About Kimco Realty
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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