Capital One Financial Corp. Comments on Kimco Realty Corp.’s FY2016 Earnings (KIM)
Kimco Realty Corp. (NYSE:KIM) – Stock analysts at Capital One Financial Corp. dropped their FY2016 earnings per share estimates for Kimco Realty Corp. in a research note issued on Sunday. Capital One Financial Corp. analyst C. Lucas now anticipates that the brokerage will post earnings per share of $1.32 for the year, down from their previous estimate of $1.38. Capital One Financial Corp. also issued estimates for Kimco Realty Corp.’s Q4 2016 earnings at $0.38 EPS, Q1 2017 earnings at $0.37 EPS, Q4 2017 earnings at $0.41 EPS, FY2017 earnings at $1.61 EPS and FY2018 earnings at $1.70 EPS.
Several other research analysts have also commented on the company. Stifel Nicolaus lowered Kimco Realty Corp. from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. Barclays PLC reaffirmed a “buy” rating and set a $34.00 price target on shares of Kimco Realty Corp. in a research report on Tuesday, July 19th. BTIG Research initiated coverage on Kimco Realty Corp. in a research report on Thursday, August 25th. They set a “buy” rating and a $34.00 price target on the stock. Deutsche Bank AG lifted their price target on Kimco Realty Corp. from $27.00 to $28.00 and gave the stock a “hold” rating in a research report on Wednesday, August 17th. Finally, Vetr raised Kimco Realty Corp. from a “buy” rating to a “strong-buy” rating and set a $33.15 price target on the stock in a research report on Thursday, September 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Kimco Realty Corp. has an average rating of “Buy” and an average price target of $31.59.
Kimco Realty Corp. (NYSE:KIM) opened at 26.07 on Tuesday. The stock’s 50 day moving average price is $27.51 and its 200-day moving average price is $29.23. Kimco Realty Corp. has a 12 month low of $24.75 and a 12 month high of $32.24. The stock has a market cap of $11.08 billion, a price-to-earnings ratio of 17.48 and a beta of 0.86.
Kimco Realty Corp. (NYSE:KIM) last released its quarterly earnings data on Friday, October 28th. The real estate investment trust reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Kimco Realty Corp. had a return on equity of 12.62% and a net margin of 57.87%. The business had revenue of $285.08 million for the quarter, compared to analyst estimates of $288.31 million. During the same quarter in the prior year, the firm posted $0.40 EPS.
Hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in Kimco Realty Corp. by 66.5% in the second quarter. Advisors Asset Management Inc. now owns 3,329 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 1,329 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Kimco Realty Corp. by 38.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,367 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 942 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Kimco Realty Corp. by 160.2% in the second quarter. Global X Management Co. LLC now owns 3,700 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 2,278 shares in the last quarter. Nuveen Fund Advisors LLC bought a new stake in shares of Kimco Realty Corp. during the second quarter valued at about $204,000. Finally, Magnetar Financial LLC bought a new stake in shares of Kimco Realty Corp. during the first quarter valued at about $203,000. Institutional investors own 91.47% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Tuesday, January 3rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.14%. This is an increase from Kimco Realty Corp.’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, December 29th. Kimco Realty Corp.’s payout ratio is presently 67.55%.
Kimco Realty Corp. Company Profile
Kimco Realty Corporation is a real estate investment trust. The Company is engaged principally in the ownership, management, development and operation of open-air shopping centers. The Company holds interests in approximately 610 shopping center properties, aggregating over 100 million square feet of gross leasable area (GLA), located in approximately 40 states of the United States, Puerto Rico and Canada.
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