Kimco Realty (NYSE:KIM) – Investment analysts at SunTrust Banks cut their Q2 2018 earnings estimates for shares of Kimco Realty in a research report issued on Monday, May 14th. SunTrust Banks analyst K. Kim now anticipates that the real estate investment trust will post earnings of $0.35 per share for the quarter, down from their prior forecast of $0.36. SunTrust Banks has a “Hold” rating and a $17.00 price objective on the stock. SunTrust Banks also issued estimates for Kimco Realty’s Q3 2018 earnings at $0.35 EPS, Q4 2018 earnings at $0.35 EPS, FY2021 earnings at $1.61 EPS and FY2022 earnings at $1.65 EPS.
Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, April 26th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.06). Kimco Realty had a return on equity of 9.03% and a net margin of 40.74%. The business had revenue of $304.08 million for the quarter, compared to analyst estimates of $298.97 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year.
KIM has been the subject of a number of other research reports. Barclays decreased their price objective on shares of Kimco Realty from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. BMO Capital Markets set a $19.00 price objective on shares of Kimco Realty and gave the company a “hold” rating in a report on Thursday, February 15th. ValuEngine cut shares of Kimco Realty from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Bank of America cut shares of Kimco Realty from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a report on Friday, February 16th. Finally, Zacks Investment Research upgraded shares of Kimco Realty from a “sell” rating to a “hold” rating in a report on Monday, May 7th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the stock. Kimco Realty has an average rating of “Hold” and an average target price of $18.31.
Shares of NYSE:KIM opened at $14.00 on Wednesday. Kimco Realty has a one year low of $13.98 and a one year high of $14.21. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.09. The company has a market cap of $6.07 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 2.94 and a beta of 0.49.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Tuesday, July 3rd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 8.00%. The ex-dividend date is Monday, July 2nd. Kimco Realty’s payout ratio is currently 72.26%.
Kimco Realty announced that its Board of Directors has approved a share buyback program on Thursday, February 15th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other Kimco Realty news, Director Frank Lourenso sold 3,380 shares of Kimco Realty stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $15.29, for a total value of $51,680.20. Following the transaction, the director now owns 182,481 shares of the company’s stock, valued at $2,790,134.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Newtyn Management LLC bought a new stake in shares of Kimco Realty in the first quarter worth $28,800,000. CAMG Solamere Management LLC bought a new stake in shares of Kimco Realty in the first quarter worth $1,562,000. Assetmark Inc. lifted its position in shares of Kimco Realty by 53,828.4% in the first quarter. Assetmark Inc. now owns 184,435 shares of the real estate investment trust’s stock worth $2,656,000 after purchasing an additional 184,093 shares in the last quarter. Highlander Capital Management LLC lifted its position in shares of Kimco Realty by 8.1% in the first quarter. Highlander Capital Management LLC now owns 66,900 shares of the real estate investment trust’s stock worth $937,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Kiwi Wealth Investments Limited Partnership bought a new stake in shares of Kimco Realty in the first quarter worth $1,343,000. 90.36% of the stock is currently owned by hedge funds and other institutional investors.
Kimco Realty Company Profile
Kimco Realty Corp. (NYSE: KIM) 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, 2017, the company owned interests in 492 U.S. shopping centers comprising 83 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
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