Kimco Realty Corporation (KIM) To Go Ex-Dividend on March 6th

Kimco Realty Corporation (NYSE:KIM) announced a quarterly dividend on Thursday, February 12th. Stockholders of record on Friday, March 6th will be paid a dividend of 0.26 per share by the real estate investment trust on Thursday, March 19th. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Friday, March 6th.

Kimco Realty has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Kimco Realty has a payout ratio of 140.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Kimco Realty to earn $1.76 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 59.1%.

Kimco Realty Price Performance

KIM stock opened at $23.54 on Wednesday. The firm has a market cap of $15.87 billion, a P/E ratio of 29.06, a P/E/G ratio of 1.32 and a beta of 1.04. The firm’s fifty day moving average is $21.46 and its 200 day moving average is $21.32. Kimco Realty has a 52 week low of $17.93 and a 52 week high of $23.91. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.31 and a current ratio of 3.31.

Analyst Upgrades and Downgrades

KIM has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, December 15th. Piper Sandler boosted their price objective on Kimco Realty from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, February 17th. Citigroup dropped their price objective on Kimco Realty from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kimco Realty in a research note on Thursday, January 22nd. Finally, Morgan Stanley set a $23.50 price target on shares of Kimco Realty in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Kimco Realty has a consensus rating of “Moderate Buy” and a consensus price target of $24.18.

Kimco Realty Company Profile

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.