Kimco Realty (NYSE:KIM) Issues FY24 Earnings Guidance

Kimco Realty (NYSE:KIM) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.56-1.60 for the period, compared to the consensus estimate of $1.58.

Kimco Realty Price Performance

KIM stock traded up $0.14 during midday trading on Friday, reaching $19.10. 6,729,038 shares of the stock were exchanged, compared to its average volume of 4,793,533. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.86 and a quick ratio of 5.05. The stock has a market capitalization of $12.88 billion, a PE ratio of 36.04, a P/E/G ratio of 4.33 and a beta of 1.46. Kimco Realty has a 52 week low of $16.34 and a 52 week high of $22.83. The company has a fifty day moving average price of $18.90 and a 200 day moving average price of $19.45.

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.03%. Kimco Realty’s dividend payout ratio (DPR) is presently 181.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Kimco Realty in a research report on Tuesday, January 30th. They set a hold rating and a $23.00 price objective for the company. Citigroup reissued a neutral rating and issued a $20.00 price objective (down from $26.00) on shares of Kimco Realty in a research note on Friday, March 22nd. Robert W. Baird decreased their target price on Kimco Realty from $23.00 to $21.00 and set an outperform rating for the company in a research note on Thursday, April 4th. Bank of America restated a neutral rating and set a $20.00 price target (down from $24.00) on shares of Kimco Realty in a report on Friday, April 5th. Finally, Mizuho lowered their price objective on shares of Kimco Realty from $22.00 to $21.00 and set a buy rating for the company in a research note on Friday, February 23rd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $21.48.

Insider Buying and Selling

In other news, Director Frank Lourenso sold 8,890 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $19.42, for a total transaction of $172,643.80. Following the completion of the transaction, the director now directly owns 203,534 shares of the company’s stock, valued at approximately $3,952,630.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is owned by insiders.

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 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.