Kimco Realty Corporation (NYSE:KIM) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.50 – $1.54 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.52.
A number of brokerages have commented on KIM. BidaskClub upgraded shares of Kimco Realty Corporation from a hold rating to a buy rating in a research note on Thursday. Zacks Investment Research upgraded shares of Kimco Realty Corporation from a sell rating to a hold rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reiterated a buy rating and issued a $25.00 price target on shares of Kimco Realty Corporation in a research note on Friday, August 4th. Barclays PLC reiterated an overweight rating and issued a $23.00 price target (up previously from $22.00) on shares of Kimco Realty Corporation in a research note on Monday, July 10th. Finally, ValuEngine cut shares of Kimco Realty Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Kimco Realty Corporation has an average rating of Buy and a consensus price target of $27.15.
Shares of Kimco Realty Corporation (KIM) traded down 2.30% during mid-day trading on Friday, reaching $19.99. 3,203,958 shares of the company’s stock traded hands. Kimco Realty Corporation has a 12-month low of $17.02 and a 12-month high of $30.71. The company has a market cap of $8.51 billion, a P/E ratio of 40.71 and a beta of 0.67. The firm has a 50-day moving average of $19.27 and a 200 day moving average of $20.95.
Kimco Realty Corporation (NYSE:KIM) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.07. The business had revenue of $292.84 million for the quarter, compared to analysts’ expectations of $290.95 million. Kimco Realty Corporation had a net margin of 21.77% and a return on equity of 4.68%. Kimco Realty Corporation’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.37 earnings per share. Equities analysts forecast that Kimco Realty Corporation will post $0.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Wednesday, October 4th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 5.40%. The ex-dividend date of this dividend is Tuesday, October 3rd. Kimco Realty Corporation’s dividend payout ratio (DPR) is presently 220.41%.
In other Kimco Realty Corporation news, Director Philip E. Coviello, Jr. acquired 20,000 shares of the company’s stock in a transaction on Monday, June 5th. The shares were acquired at an average cost of $17.37 per share, with a total value of $347,400.00. Following the completion of the acquisition, the director now directly owns 41,045 shares in the company, valued at $712,951.65. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.90% of the stock is owned by corporate insiders.
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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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