Kimco Realty (NYSE:KIM) Posts Earnings Results, Misses Expectations By $0.23 EPS

Kimco Realty (NYSE:KIM) issued its quarterly earnings data on Thursday. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23), Zacks reports. The company had revenue of $500.20 million for the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the company 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 Stock Performance

Shares of KIM traded down $0.08 during trading hours on Friday, hitting $21.93. The stock had a trading volume of 4,591,199 shares, compared to its average volume of 4,417,856. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.73. The firm has a 50-day moving average price of $19.76 and a 200 day moving average price of $19.43. Kimco Realty has a fifty-two week low of $16.34 and a fifty-two week high of $22.83. The firm has a market capitalization 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Thursday, September 5th. Kimco Realty’s dividend payout ratio is currently 181.14%.

Analysts Set New Price Targets

A number of research firms have commented on KIM. Mizuho decreased their price target on Kimco Realty from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Truist Financial decreased their price target on Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Monday, May 20th. JPMorgan Chase & Co. increased their price target on Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $29.00 price target (up from $26.00) on shares of Kimco Realty in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.