Wall Street analysts forecast that Kimco Realty Corp (NYSE:KIM) will announce sales of $300.44 million for the current quarter, Zacks reports. Eight analysts have provided estimates for Kimco Realty’s earnings, with the highest sales estimate coming in at $304.83 million and the lowest estimate coming in at $295.28 million. Kimco Realty posted sales of $297.03 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.1%. The company is expected to report its next quarterly earnings results before the market opens on Thursday, February 15th.
According to Zacks, analysts expect that Kimco Realty will report full-year sales of $300.44 million for the current financial year, with estimates ranging from $1.16 billion to $1.19 billion. For the next year, analysts forecast that the firm will post sales of $1.20 billion per share, with estimates ranging from $1.18 billion to $1.24 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Kimco Realty.
Kimco Realty (NYSE:KIM) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). Kimco Realty had a net margin of 35.51% and a return on equity of 7.73%. The business had revenue of $290.92 million for the quarter, compared to analysts’ expectations of $295.34 million. During the same period last year, the business posted $0.38 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis.
In other news, insider Milton Cooper acquired 50,000 shares of Kimco Realty stock in a transaction dated Monday, December 4th. The shares were acquired at an average cost of $19.20 per share, with a total value of $960,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of Kimco Realty by 24.5% during the second quarter. FMR LLC now owns 12,220,784 shares of the real estate investment trust’s stock worth $224,251,000 after purchasing an additional 2,408,799 shares during the period. American Century Companies Inc. purchased a new position in Kimco Realty in the third quarter valued at about $44,360,000. BlackRock Inc. grew its stake in Kimco Realty by 3.8% in the second quarter. BlackRock Inc. now owns 41,368,865 shares of the real estate investment trust’s stock valued at $759,119,000 after purchasing an additional 1,506,999 shares in the last quarter. Hamlin Capital Management LLC grew its stake in Kimco Realty by 38.9% in the third quarter. Hamlin Capital Management LLC now owns 4,330,610 shares of the real estate investment trust’s stock valued at $84,663,000 after purchasing an additional 1,212,542 shares in the last quarter. Finally, Commonwealth Bank of Australia grew its stake in Kimco Realty by 4,014.9% in the second quarter. Commonwealth Bank of Australia now owns 1,147,429 shares of the real estate investment trust’s stock valued at $21,054,000 after purchasing an additional 1,119,544 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.
Kimco Realty (KIM) traded up $0.07 during mid-day trading on Monday, reaching $18.02. 2,818,200 shares of the company were exchanged, compared to its average volume of 4,391,107. The firm has a market cap of $7,670.00, a PE ratio of 26.50, a PEG ratio of 2.14 and a beta of 0.65. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.16. Kimco Realty has a one year low of $17.02 and a one year high of $26.16.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 6.22%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, December 29th. Kimco Realty’s dividend payout ratio (DPR) is presently 158.82%.
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Kimco Realty 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.
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