Kimco Realty Corporation (NYSE:KIM) released its quarterly 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, Yahoo Finance reports. The company had revenue of $292.84 million during 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%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 earnings per share. Kimco Realty Corporation updated its FY17 guidance to $1.50 - $1.54 EPS.
Shares of Kimco Realty Corporation (KIM) traded down 2.265% during mid-day trading on Tuesday, hitting $19.635. The stock had a trading volume of 1,062,588 shares. The company has a market cap of $8.36 billion, a PE ratio of 39.990 and a beta of 0.67. Kimco Realty Corporation has a 12 month low of $17.02 and a 12 month high of $30.71. The stock’s 50-day moving average is $19.33 and its 200 day moving average is $20.85.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Wednesday, October 4th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.08 annualized dividend and a yield of 5.38%. Kimco Realty Corporation’s dividend payout ratio is currently 220.41%.
A number of equities research analysts recently commented on KIM shares. TheStreet lowered Kimco Realty Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, April 26th. Canaccord Genuity reissued a “buy” rating and issued a $34.00 price target on shares of Kimco Realty Corporation in a research report on Thursday, April 27th. Citigroup Inc. decreased their target price on Kimco Realty Corporation from $26.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, May 9th. Zacks Investment Research raised Kimco Realty Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Finally, Goldman Sachs Group, Inc. (The) raised Kimco Realty Corporation from a “sell” rating to a “neutral” rating and set a $18.70 target price for the company in a research report on Tuesday, June 20th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $27.28.
In other Kimco Realty Corporation news, Director Philip E. Coviello, Jr. bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was purchased at an average price of $17.37 per share, for a total transaction of $347,400.00. Following the completion of the transaction, the director now owns 41,045 shares of the company’s stock, valued at approximately $712,951.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Cape Cod Five Cents Savings Bank bought a new stake in Kimco Realty Corporation during the first quarter valued at about $248,000. State of Alaska Department of Revenue raised its stake in Kimco Realty Corporation by 107.6% in the first quarter. State of Alaska Department of Revenue now owns 220,308 shares of the real estate investment trust’s stock valued at $4,866,000 after buying an additional 114,188 shares during the last quarter. Rothschild Investment Corp IL bought a new stake in Kimco Realty Corporation during the first quarter valued at about $445,000. DnB Asset Management AS raised its stake in Kimco Realty Corporation by 17.7% in the first quarter. DnB Asset Management AS now owns 41,956 shares of the real estate investment trust’s stock valued at $927,000 after buying an additional 6,300 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Kimco Realty Corporation during the first quarter valued at about $235,000. 91.29% of the stock is owned by institutional investors.
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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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