Kimco Realty (NYSE:KIM) Releases FY 2024 Earnings Guidance

Kimco Realty (NYSE:KIM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.640-1.650 for the period, compared to the consensus earnings per share estimate of 1.620. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of research analysts have recently commented on KIM shares. Piper Sandler reissued an “overweight” rating and issued a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Compass Point upped their price objective on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Truist Financial lifted their target price on Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Raymond James upgraded Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a research report on Friday, August 16th. Finally, Mizuho lowered Kimco Realty from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $20.00 to $23.00 in a research note on Monday, August 19th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Kimco Realty currently has an average rating of “Moderate Buy” and a consensus target price of $23.55.

Kimco Realty Trading Up 0.5 %

Shares of Kimco Realty stock traded up $0.11 during trading on Friday, hitting $23.83. The company’s stock had a trading volume of 3,614,313 shares, compared to its average volume of 4,596,229. The stock has a market cap of $16.06 billion, a price-to-earnings ratio of 44.13, a price-to-earnings-growth ratio of 4.09 and a beta of 1.50. Kimco Realty has a 52 week low of $17.51 and a 52 week high of $24.67. The stock has a 50-day moving average price of $23.47 and a two-hundred day moving average price of $21.08. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 1.73.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The company had revenue of $500.20 million during the quarter, compared to the consensus estimate of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. Equities research analysts anticipate that Kimco Realty will post 1.62 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.25 dividend. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Thursday, December 5th. Kimco Realty’s dividend payout ratio is currently 177.78%.

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.