Equities research analysts expect Kimco Realty Corp (NYSE:KIM) to post earnings of $0.36 per share for the current quarter, Zacks reports. Seven analysts have made estimates for Kimco Realty’s earnings, with the highest EPS estimate coming in at $0.39 and the lowest estimate coming in at $0.35. Kimco Realty reported earnings of $0.37 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.7%. The business is expected to announce its next earnings results before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that Kimco Realty will report full-year earnings of $1.44 per share for the current financial year, with EPS estimates ranging from $1.42 to $1.45. For the next financial year, analysts forecast that the firm will report earnings of $1.49 per share, with EPS estimates ranging from $1.44 to $1.60. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Kimco Realty.
Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.21). The business had revenue of $310.63 million during the quarter, compared to analyst estimates of $297.92 million. Kimco Realty had a net margin of 35.48% and a return on equity of 7.85%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share.
A number of equities analysts recently issued reports on the company. Mizuho set a $20.00 price target on Kimco Realty and gave the company a “hold” rating in a report on Monday, December 18th. JPMorgan Chase cut Kimco Realty from an “overweight” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research note on Friday, December 15th. Zacks Investment Research cut Kimco Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. ValuEngine cut Kimco Realty from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, SunTrust Banks set a $18.00 price objective on Kimco Realty and gave the company a “hold” rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.52.
KIM traded down $0.33 on Tuesday, reaching $14.33. The company’s stock had a trading volume of 3,701,511 shares, compared to its average volume of 4,509,322. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $6,096.77, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 2.95 and a beta of 0.50. Kimco Realty has a fifty-two week low of $13.69 and a fifty-two week high of $23.03.
Kimco Realty announced that its board has approved a stock buyback program on Thursday, February 15th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Tuesday, April 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 7.82%. The ex-dividend date is Monday, April 2nd. Kimco Realty’s dividend payout ratio (DPR) is presently 72.26%.
In other news, Director Frank Lourenso sold 3,380 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $15.29, for a total transaction of $51,680.20. Following the completion of the sale, the director now owns 182,481 shares in the company, valued at $2,790,134.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Orinda Asset Management LLC purchased a new position in Kimco Realty in the fourth quarter worth $182,000. Kelman Lazarov Inc. purchased a new position in Kimco Realty in the fourth quarter worth $189,000. TIAA FSB purchased a new position in Kimco Realty in the fourth quarter worth $211,000. Zeke Capital Advisors LLC purchased a new position in Kimco Realty in the third quarter worth $237,000. Finally, Janney Montgomery Scott LLC purchased a new position in Kimco Realty in the third quarter worth $243,000. Institutional investors and hedge funds own 90.58% of the company’s stock.
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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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