Analysts Expect Kimco Realty Corp (KIM) to Announce $0.35 EPS

Brokerages forecast that Kimco Realty Corp (NYSE:KIM) will post earnings per share of $0.35 for the current quarter, according to Zacks. Four analysts have issued estimates for Kimco Realty’s earnings. The highest EPS estimate is $0.36 and the lowest is $0.34. Kimco Realty posted earnings per share of $0.37 during the same quarter last year, which indicates a negative year over year growth rate of 5.4%. The company is expected to report its next earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Kimco Realty will report full year earnings of $1.45 per share for the current financial year, with EPS estimates ranging from $1.38 to $1.47. For the next fiscal year, analysts expect that the firm will post earnings of $1.49 per share, with EPS estimates ranging from $1.45 to $1.53. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that follow Kimco Realty.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, January 31st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.18). The company had revenue of $284.20 million during the quarter, compared to the consensus estimate of $278.28 million. Kimco Realty had a net margin of 41.49% and a return on equity of 8.81%.

A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Kimco Realty from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Monday, December 31st. ValuEngine upgraded Kimco Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Finally, Scotiabank assumed coverage on Kimco Realty in a research note on Tuesday, October 16th. They issued an “underperform” rating for the company. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $17.55.

Shares of KIM traded up $0.15 during mid-day trading on Friday, hitting $17.16. 4,622,881 shares of the stock were exchanged, compared to its average volume of 4,467,308. Kimco Realty has a 52-week low of $13.16 and a 52-week high of $17.96. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 3.87 and a beta of 0.65.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.53%. The ex-dividend date of this dividend is Monday, April 1st. Kimco Realty’s payout ratio is 77.24%.

In other news, Director Philip E. Coviello, Jr. acquired 5,000 shares of Kimco Realty stock in a transaction dated Thursday, December 20th. The stock was purchased at an average cost of $14.91 per share, for a total transaction of $74,550.00. Following the completion of the purchase, the director now directly owns 52,965 shares in the company, valued at approximately $789,708.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. First Midwest Bank Trust Division purchased a new position in Kimco Realty during the fourth quarter valued at approximately $153,000. MML Investors Services LLC acquired a new position in Kimco Realty during the third quarter worth $185,000. Janney Montgomery Scott LLC boosted its stake in Kimco Realty by 11.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 12,609 shares of the real estate investment trust’s stock worth $185,000 after buying an additional 1,246 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Kimco Realty during the third quarter worth $196,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Kimco Realty during the third quarter worth $198,000. Institutional investors own 86.75% of the company’s stock.

About Kimco Realty

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of September 30, 2018, the company owned interests in 450 U.S. shopping centers comprising 78 million square feet of leasable space primarily concentrated in the top major metropolitan markets.

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