Kimco Realty (NYSE:KIM) Releases FY24 Earnings Guidance

Kimco Realty (NYSE:KIM) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.56-1.60 for the period, compared to the consensus estimate of $1.58.

Kimco Realty Trading Up 0.7 %

Shares of Kimco Realty stock traded up $0.14 during trading hours on Friday, reaching $19.10. The stock had a trading volume of 6,729,038 shares, compared to its average volume of 4,793,533. The firm has a market capitalization of $12.88 billion, a price-to-earnings ratio of 36.04, a P/E/G ratio of 4.33 and a beta of 1.46. Kimco Realty has a 1 year low of $16.34 and a 1 year high of $22.83. The company has a current ratio of 1.86, a quick ratio of 5.05 and a debt-to-equity ratio of 0.71. The firm has a 50 day simple moving average of $18.90 and a two-hundred day simple moving average of $19.45.

Kimco Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend is Thursday, June 6th. Kimco Realty’s payout ratio is currently 181.14%.

Analyst Upgrades and Downgrades

Several research analysts have commented on KIM shares. Bank of America reissued a neutral rating and issued a $20.00 price objective (down from $24.00) on shares of Kimco Realty in a research report on Friday, April 5th. Robert W. Baird reduced their price target on Kimco Realty from $23.00 to $21.00 and set an outperform rating on the stock in a research report on Thursday, April 4th. Mizuho decreased their price target on Kimco Realty from $22.00 to $21.00 and set a buy rating for the company in a report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Kimco Realty in a research note on Tuesday, January 30th. They set a hold rating and a $23.00 price objective on the stock. Finally, Citigroup restated a neutral rating and issued a $20.00 target price (down from $26.00) on shares of Kimco Realty in a research note on Friday, March 22nd. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $21.48.

Insiders Place Their Bets

In related news, Director Frank Lourenso sold 8,890 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $19.42, for a total transaction of $172,643.80. Following the transaction, the director now directly owns 203,534 shares in the company, valued at $3,952,630.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is currently owned by company insiders.

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.