$0.39 Earnings Per Share Expected for Kimco Realty Corporation (KIM) This Quarter
Equities research analysts expect Kimco Realty Corporation (NYSE:KIM) to report earnings per share (EPS) of $0.39 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Kimco Realty Corporation’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.38. Kimco Realty Corporation reported earnings of ($0.13) per share during the same quarter last year, which would indicate a positive year over year growth rate of 400%. The company is scheduled to report its next earnings results after the market closes on Wednesday, October 25th.
According to Zacks, analysts expect that Kimco Realty Corporation will report full-year earnings of $1.53 per share for the current fiscal year, with EPS estimates ranging from $1.50 to $1.63. For the next year, analysts anticipate that the firm will post earnings of $1.60 per share, with EPS estimates ranging from $1.57 to $1.63. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Kimco Realty Corporation.
Kimco Realty Corporation (NYSE:KIM) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.38 by $0.07. The company had revenue of $292.84 million for the quarter, compared to analysts’ expectations of $290.95 million. Kimco Realty Corporation had a return on equity of 4.68% and a net margin of 21.77%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Kimco Realty Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub upgraded shares of Kimco Realty Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Citigroup Inc restated a “neutral” rating and set a $19.50 target price (down from $21.00) on shares of Kimco Realty Corporation in a research report on Monday, July 10th. Argus lowered shares of Kimco Realty Corporation from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. They noted that the move was a valuation call. Finally, Boenning Scattergood restated a “hold” rating on shares of Kimco Realty Corporation in a research report on Friday, August 18th. Ten equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Kimco Realty Corporation has a consensus rating of “Hold” and a consensus target price of $26.54.
Kimco Realty Corporation (KIM) traded up 0.97% during mid-day trading on Friday, reaching $19.81. 2,411,135 shares of the company’s stock traded hands. The stock’s 50 day moving average is $19.75 and its 200-day moving average is $20.39. The stock has a market capitalization of $8.43 billion, a PE ratio of 40.35 and a beta of 0.67. Kimco Realty Corporation has a 52 week low of $17.02 and a 52 week high of $30.70.
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 5.45%. Kimco Realty Corporation’s dividend payout ratio (DPR) is 220.41%.
A number of large investors have recently bought and sold shares of KIM. Pacer Advisors Inc. grew its position in Kimco Realty Corporation by 8.4% in the 2nd 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. Carnegie Capital Asset Management LLC purchased a new position in Kimco Realty Corporation in the 2nd quarter valued at $204,000. Creative Planning grew its position in Kimco Realty Corporation by 31.8% in the 2nd quarter. Creative Planning now owns 11,257 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 2,715 shares during the last quarter. First Allied Advisory Services Inc. grew its position in Kimco Realty Corporation by 5.6% in the 2nd 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. Finally, Private Asset Management Inc. grew its position in Kimco Realty Corporation by 1.8% in the 2nd quarter. Private Asset Management Inc. now owns 11,338 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 88.98% of the company’s stock.
About Kimco Realty Corporation
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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