Kimco Realty (NYSE:KIM) Issues 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 (EPS) guidance of 1.640-1.650 for the period, compared to the consensus estimate of 1.620. The company issued revenue guidance of -.

Kimco Realty Stock Up 0.5 %

KIM traded up $0.11 during trading on Friday, hitting $23.83. 3,614,313 shares of the company’s stock were exchanged, compared to its average volume of 4,596,229. The stock has a market cap of $16.06 billion, a P/E ratio of 44.13, a PEG ratio of 4.09 and a beta of 1.50. The business’s 50 day moving average is $23.47 and its two-hundred day moving average is $21.08. Kimco Realty has a fifty-two week low of $17.51 and a fifty-two week high of $24.67. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.72.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data 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). Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The company had revenue of $500.20 million for the quarter, compared to the consensus estimate of $500.87 million. During the same period in the prior year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities analysts expect that Kimco Realty will post 1.62 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given 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 yield of 4.20%. The ex-dividend date of this dividend is Thursday, December 5th. Kimco Realty’s dividend payout ratio is presently 177.78%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on KIM shares. Argus raised shares of Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Scotiabank increased their price target on Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Evercore ISI raised their target price on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Compass Point lifted their target price on Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.55.

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.