Kimco Realty (NYSE:KIM) Releases FY 2024 Earnings Guidance

Kimco Realty (NYSE:KIM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.640-1.650 for the period, compared to the consensus estimate of 1.620. The company issued revenue guidance of -.

Kimco Realty Stock Up 0.5 %

Shares of NYSE:KIM opened at $23.83 on Friday. The company has a market capitalization of $16.06 billion, a PE ratio of 43.33, a P/E/G ratio of 4.04 and a beta of 1.49. The company has a current ratio of 3.59, a quick ratio of 1.73 and a debt-to-equity ratio of 0.78. Kimco Realty has a twelve month low of $17.51 and a twelve month high of $24.67. The firm has a 50 day simple moving average of $23.47 and a 200-day simple moving average of $21.11.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The business had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 earnings per share. On average, equities analysts predict that Kimco Realty will post 1.62 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.20%. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. Kimco Realty’s payout ratio is presently 174.55%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KIM. Argus raised shares of Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. Mizuho cut shares of Kimco Realty from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $20.00 to $23.00 in a research note on Monday, August 19th. JPMorgan Chase & Co. boosted their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Truist Financial boosted their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Robert W. Baird boosted their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kimco Realty presently has an average rating of “Moderate Buy” and an average price target of $23.55.

About Kimco Realty

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.