Kimco Realty Corp Announces Quarterly Dividend of $0.25 (NYSE:KIM)

Kimco Realty Corp (NYSE:KIM) declared a quarterly dividend on Friday, February 7th,NASDAQ Dividends reports. Stockholders of record on Friday, March 7th will be given a dividend of 0.25 per share by the real estate investment trust on Friday, March 21st. This represents a $1.00 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Friday, March 7th.

Kimco Realty has increased its dividend by an average of 12.6% per year over the last three years. Kimco Realty has a payout ratio of 131.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Kimco Realty to earn $1.69 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 59.2%.

Kimco Realty Stock Performance

Shares of Kimco Realty stock traded down $0.04 during trading on Friday, hitting $22.37. 8,061,266 shares of the company’s stock traded hands, compared to its average volume of 4,318,381. Kimco Realty has a 1 year low of $17.57 and a 1 year high of $25.83. The business has a 50-day simple moving average of $23.22 and a 200-day simple moving average of $23.34. The stock has a market capitalization of $15.08 billion, a P/E ratio of 40.68, a PEG ratio of 2.92 and a beta of 1.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. As a group, analysts forecast that Kimco Realty will post 1.64 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on KIM. Scotiabank boosted their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a research note on Monday, November 25th. UBS Group lifted their price objective on Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. downgraded Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 target price on the stock. in a report on Friday, December 20th. Mizuho boosted their price target on Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Robert W. Baird increased their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Ten equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.97.

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.