Analysts predict that Kimco Realty Corp (NYSE:KIM) will announce $299.46 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Kimco Realty’s earnings, with the lowest sales estimate coming in at $294.40 million and the highest estimate coming in at $307.83 million. Kimco Realty reported sales of $289.39 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.5%. The business is scheduled to report its next quarterly earnings report before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that Kimco Realty will report full year sales of $299.46 million for the current financial year, with estimates ranging from $1.15 billion to $1.24 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.20 billion per share, with estimates ranging from $1.13 billion to $1.27 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Kimco Realty.
Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.21). Kimco Realty had a return on equity of 7.85% and a net margin of 35.48%. The company had revenue of $310.63 million during the quarter, compared to analyst estimates of $297.92 million. During the same period last year, the company posted $0.38 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year.
KIM has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Kimco Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Evercore ISI downgraded shares of Kimco Realty from an “in-line” rating to an “underperform” rating in a research report on Monday, March 5th. ValuEngine downgraded shares of Kimco Realty from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Deutsche Bank lowered their target price on shares of Kimco Realty from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, March 19th. Finally, Morgan Stanley downgraded shares of Kimco Realty from an “overweight” rating to an “equal” rating in a research report on Tuesday, March 27th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $19.52.
In other Kimco Realty news, Director Frank Lourenso sold 3,380 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were 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 directly owns 182,481 shares in the company, valued at $2,790,134.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Kimco Realty by 9.5% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,617 shares of the real estate investment trust’s stock valued at $677,000 after acquiring an additional 2,994 shares during the period. Cascade Investment Advisors Inc. boosted its holdings in Kimco Realty by 9.1% during the fourth quarter. Cascade Investment Advisors Inc. now owns 38,075 shares of the real estate investment trust’s stock valued at $691,000 after acquiring an additional 3,175 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Kimco Realty by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 652,182 shares of the real estate investment trust’s stock valued at $12,750,000 after acquiring an additional 3,299 shares during the period. Chevy Chase Trust Holdings Inc. boosted its holdings in Kimco Realty by 1.2% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 371,941 shares of the real estate investment trust’s stock valued at $7,271,000 after acquiring an additional 4,544 shares during the period. Finally, Amalgamated Bank lifted its stake in shares of Kimco Realty by 9.7% in the fourth quarter. Amalgamated Bank now owns 52,153 shares of the real estate investment trust’s stock valued at $947,000 after buying an additional 4,623 shares during the period. Institutional investors own 90.58% of the company’s stock.
Shares of NYSE KIM traded up $0.04 during mid-day trading on Thursday, reaching $14.31. The company had a trading volume of 3,585,375 shares, compared to its average volume of 5,533,023. Kimco Realty has a twelve month low of $13.69 and a twelve month high of $23.03. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $6,096.78, a PE ratio of 9.23, a price-to-earnings-growth ratio of 2.95 and a beta of 0.50.
Kimco Realty announced that its board has initiated a share buyback plan on Thursday, February 15th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Tuesday, April 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.83%. The ex-dividend date of this dividend is Monday, April 2nd. Kimco Realty’s dividend payout ratio (DPR) is 72.26%.
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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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