Kimco Realty Corp (NYSE:KIM) – Equities researchers at SunTrust Banks raised their FY2019 EPS estimates for Kimco Realty in a research note issued on Monday, May 13th, Zacks Investment Research reports. SunTrust Banks analyst K. Kim now forecasts that the real estate investment trust will post earnings of $1.47 per share for the year, up from their prior estimate of $1.45. SunTrust Banks also issued estimates for Kimco Realty’s Q4 2019 earnings at $0.37 EPS and FY2020 earnings at $1.50 EPS.
Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). Kimco Realty had a net margin of 39.40% and a return on equity of 8.37%. The business had revenue of $295.00 million for the quarter, compared to analyst estimates of $282.49 million. During the same quarter last year, the business earned $0.39 EPS. Kimco Realty’s revenue for the quarter was down 3.0% compared to the same quarter last year.
A number of other brokerages have also weighed in on KIM. Evercore ISI lowered Kimco Realty from an “in-line” rating to an “underperform” rating in a research note on Monday, April 1st. They noted that the move was a valuation call. Zacks Investment Research lowered Kimco Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Finally, Raymond James lowered Kimco Realty from an “outperform” rating to a “market perform” rating and set a $18.17 target price for the company. in a research report on Tuesday, May 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $17.83.
NYSE KIM traded down $0.02 during mid-day trading on Wednesday, reaching $18.33. 2,817,967 shares of the company’s stock traded hands, compared to its average volume of 4,115,124. Kimco Realty has a 1-year low of $14.29 and a 1-year high of $18.64. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.92. The firm has a market cap of $7.74 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 3.11 and a beta of 0.57.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.12 annualized dividend and a dividend yield of 6.11%. Kimco Realty’s payout ratio is 77.24%.
In other news, Director Richard B. Saltzman sold 5,500 shares of Kimco Realty stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $18.39, for a total value of $101,145.00. Following the completion of the transaction, the director now owns 81,335 shares in the company, valued at approximately $1,495,750.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO David Jamieson sold 16,435 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $18.33, for a total value of $301,253.55. Following the completion of the sale, the chief operating officer now directly owns 94,211 shares in the company, valued at approximately $1,726,887.63. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in KIM. Deutsche Bank AG lifted its holdings in shares of Kimco Realty by 468.0% in the 4th quarter. Deutsche Bank AG now owns 5,837,415 shares of the real estate investment trust’s stock worth $85,510,000 after purchasing an additional 4,809,739 shares during the last quarter. Norges Bank bought a new stake in shares of Kimco Realty in the 4th quarter worth approximately $69,738,000. Cbre Clarion Securities LLC bought a new stake in shares of Kimco Realty in the 1st quarter worth approximately $52,148,000. Bank of New York Mellon Corp lifted its holdings in shares of Kimco Realty by 17.0% in the 4th quarter. Bank of New York Mellon Corp now owns 18,850,346 shares of the real estate investment trust’s stock worth $276,157,000 after purchasing an additional 2,739,388 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Kimco Realty by 24.4% in the 4th quarter. Northern Trust Corp now owns 8,312,885 shares of the real estate investment trust’s stock worth $121,785,000 after purchasing an additional 1,629,720 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.
Kimco Realty Company Profile
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 December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.