Kimco Realty (NYSE:KIM) Announces Quarterly Earnings Results, Misses Estimates By $0.23 EPS

Kimco Realty (NYSE:KIM) issued its earnings results on Thursday. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.23), Zacks reports. The firm had revenue of $500.20 million during the quarter, compared to the consensus estimate of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $0.39 earnings per share. Kimco Realty updated its FY 2024 guidance to 1.600-1.620 EPS and its FY24 guidance to $1.60-$1.62 EPS.

Kimco Realty Trading Down 0.4 %

KIM stock traded down $0.08 during midday trading on Friday, reaching $21.93. The stock had a trading volume of 4,591,199 shares, compared to its average volume of 4,417,856. The business has a fifty day simple moving average of $19.76 and a two-hundred day simple moving average of $19.43. The company has a quick ratio of 1.86, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The firm has a market cap of $14.78 billion, a price-to-earnings ratio of 41.38, a PEG ratio of 4.23 and a beta of 1.51. Kimco Realty has a twelve month low of $16.34 and a twelve month high of $22.83.

Kimco Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.38%. Kimco Realty’s dividend payout ratio (DPR) is presently 181.14%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Mizuho cut their price objective on Kimco Realty from $21.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Piper Sandler reissued an “overweight” rating and set a $29.00 price objective (up from $26.00) on shares of Kimco Realty in a report on Friday. JPMorgan Chase & Co. lifted their price objective on Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday. Finally, Truist Financial cut their price objective on Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a report on Monday, May 20th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.98.

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.