Kimco Realty Corp (NYSE:KIM) – Equities research analysts at Boenning Scattergood cut their Q2 2018 earnings per share (EPS) estimates for Kimco Realty in a research report issued to clients and investors on Friday. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the real estate investment trust will earn $0.37 per share for the quarter, down from their prior estimate of $0.38. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Kimco Realty’s Q3 2018 earnings at $0.36 EPS, Q4 2018 earnings at $0.35 EPS, FY2018 earnings at $1.44 EPS, Q1 2019 earnings at $0.35 EPS, Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.38 EPS, Q4 2019 earnings at $0.37 EPS and FY2019 earnings at $1.48 EPS.
A number of other equities analysts have also recently issued reports on the stock. Bank of America cut shares of Kimco Realty from a “buy” rating to a “neutral” rating and set a $17.00 price target on the stock. in a research note on Friday. BMO Capital Markets set a $19.00 price target on shares of Kimco Realty and gave the stock a “hold” rating in a research note on Thursday, February 15th. ValuEngine cut shares of Kimco Realty from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Stifel Nicolaus restated a “hold” rating and set a $17.00 target price on shares of Kimco Realty in a research note on Thursday, February 1st. Finally, Barclays lowered their target price on shares of Kimco Realty from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. Kimco Realty presently has an average rating of “Hold” and a consensus target price of $20.81.
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 firm had revenue of $310.63 million during the quarter, compared to the consensus estimate of $297.92 million. Kimco Realty had a return on equity of 7.85% and a net margin of 35.48%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 EPS.
Several large investors have recently modified their holdings of KIM. Penserra Capital Management LLC bought a new position in shares of Kimco Realty in the 3rd quarter worth approximately $105,000. Orinda Asset Management LLC bought a new position in shares of Kimco Realty in the 4th quarter worth approximately $182,000. Kelman Lazarov Inc. bought a new position in shares of Kimco Realty in the 4th quarter worth approximately $189,000. Eqis Capital Management Inc. bought a new position in shares of Kimco Realty in the 3rd quarter worth approximately $201,000. Finally, Stoneridge Investment Partners LLC bought a new position in shares of Kimco Realty in the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 89.45% of the company’s stock.
In related news, insider Milton Cooper bought 50,000 shares of the stock in a transaction on Monday, December 4th. The shares were acquired at an average price of $19.20 per share, for a total transaction of $960,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.90% of the stock is currently owned by corporate insiders.
Kimco Realty declared that its Board of Directors has authorized a stock buyback program on Thursday, February 15th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders 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 yield of 7.37%. The ex-dividend date of this dividend is Monday, April 2nd. Kimco Realty’s dividend payout ratio is currently 128.74%.
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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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