Q2 2024 EPS Estimates for Kimco Realty Corp (NYSE:KIM) Lowered by Zacks Research

Kimco Realty Corp (NYSE:KIM) – Equities researchers at Zacks Research reduced their Q2 2024 earnings per share estimates for Kimco Realty in a research note issued on Thursday, May 23rd. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings of $0.39 per share for the quarter, down from their prior forecast of $0.40. The consensus estimate for Kimco Realty’s current full-year earnings is $1.59 per share. Zacks Research also issued estimates for Kimco Realty’s Q3 2024 earnings at $0.39 EPS, FY2024 earnings at $1.57 EPS and Q2 2025 earnings at $0.42 EPS.

A number of other research analysts also recently weighed in on the company. Citigroup reiterated a “neutral” rating and set a $20.00 price target (down previously from $26.00) on shares of Kimco Realty in a report on Friday, March 22nd. Truist Financial lowered their price target on Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft started coverage on Kimco Realty in a report on Tuesday, January 30th. They set a “hold” rating and a $23.00 price target on the stock. Robert W. Baird lowered their price target on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, April 4th. Finally, Bank of America restated a “neutral” rating and issued a $20.00 target price (down previously from $24.00) on shares of Kimco Realty in a research note on Friday, April 5th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $21.52.

Kimco Realty Stock Down 2.3 %

Shares of Kimco Realty stock opened at $18.57 on Friday. The stock’s fifty day moving average is $18.79 and its 200-day moving average is $19.60. The firm has a market capitalization of $12.52 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 3.68 and a beta of 1.46. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.71. Kimco Realty has a 12-month low of $16.34 and a 12-month high of $22.83.

Kimco Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.96 annualized dividend and a dividend yield of 5.17%. Kimco Realty’s dividend payout ratio is presently 181.14%.

Hedge Funds Weigh In On Kimco Realty

Several large investors have recently added to or reduced their stakes in KIM. Canada Pension Plan Investment Board acquired a new position in Kimco Realty in the 1st quarter valued at approximately $200,043,000. Vanguard Group Inc. raised its holdings in Kimco Realty by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock valued at $2,162,347,000 after acquiring an additional 7,931,013 shares in the last quarter. Norges Bank acquired a new position in Kimco Realty in the 4th quarter valued at approximately $150,326,000. Centersquare Investment Management LLC raised its holdings in Kimco Realty by 76.8% in the 1st quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock valued at $269,531,000 after acquiring an additional 6,282,891 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Kimco Realty by 23.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 31,120,015 shares of the real estate investment trust’s stock valued at $547,401,000 after acquiring an additional 5,894,446 shares in the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

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.