Boenning Scattergood Reaffirms “Hold” Rating for Kimco Realty Corp (KIM)
Boenning Scattergood reiterated their hold rating on shares of Kimco Realty Corp (NYSE:KIM) in a report published on Friday. Boenning Scattergood also issued estimates for Kimco Realty Corp’s Q3 2017 earnings at $0.43 EPS, Q4 2017 earnings at $0.42 EPS and FY2017 earnings at $1.63 EPS.
“We are tweaking our KIM 2018 operating FFO per share estimate to adjust for anticipated recurring income from other real estate investments, assuming the company receives no distributions from its investment in grocer Albertsons in 2018.”,” the firm’s analyst wrote.
Other equities analysts have also recently issued reports about the stock. Canaccord Genuity reaffirmed a buy rating and issued a $34.00 target price on shares of Kimco Realty Corp in a report on Thursday, April 27th. Royal Bank Of Canada reaffirmed a buy rating and issued a $25.00 target price on shares of Kimco Realty Corp in a report on Friday, August 4th. BidaskClub raised shares of Kimco Realty Corp from a hold rating to a buy rating in a report on Thursday, August 10th. TheStreet cut shares of Kimco Realty Corp from a b- rating to a c rating in a report on Wednesday, April 26th. Finally, ValuEngine cut shares of Kimco Realty Corp from a buy rating to a hold rating in a report on Friday, June 2nd. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Kimco Realty Corp presently has an average rating of Buy and a consensus target price of $27.21.
Shares of Kimco Realty Corp (NYSE:KIM) opened at 19.34 on Friday. The firm has a 50-day moving average of $19.43 and a 200-day moving average of $20.76. The company has a market capitalization of $8.23 billion, a P/E ratio of 39.39 and a beta of 0.67. Kimco Realty Corp has a one year low of $17.02 and a one year high of $30.70.
Kimco Realty Corp (NYSE:KIM) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.07. The business had revenue of $292.84 million during the quarter, compared to analyst estimates of $290.95 million. Kimco Realty Corp had a net margin of 7.50% and a return on equity of 8.55%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 earnings per share. Analysts forecast that Kimco Realty Corp will post $0.73 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Wednesday, October 4th will be given a $0.27 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 5.58%. Kimco Realty Corp’s dividend payout ratio (DPR) is 220.41%.
In other news, Director Philip E. Coviello, Jr. acquired 20,000 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were purchased at an average cost of $17.37 per share, for a total transaction of $347,400.00. Following the transaction, the director now directly owns 41,045 shares in the company, valued at approximately $712,951.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.90% of the company’s stock.
Several large investors have recently modified their holdings of the company. Global X Management Co. LLC raised its stake in shares of Kimco Realty Corp by 30.5% in the first quarter. Global X Management Co. LLC now owns 9,861 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 2,304 shares during the last quarter. Suntrust Banks Inc. raised its stake in shares of Kimco Realty Corp by 5.3% in the first quarter. Suntrust Banks Inc. now owns 9,930 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 504 shares during the last quarter. Carnegie Capital Asset Management LLC bought a new stake in shares of Kimco Realty Corp during the second quarter valued at approximately $204,000. Pacer Advisors Inc. raised its stake in shares of Kimco Realty Corp by 8.4% in the second quarter. Pacer Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 790 shares during the last quarter. Finally, First Allied Advisory Services Inc. raised its stake in shares of Kimco Realty Corp by 5.6% in the second quarter. First Allied Advisory Services Inc. now owns 10,550 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 564 shares during the last quarter. Institutional investors own 91.29% of the company’s stock.
Kimco Realty Corp Company Profile
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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