Q3 2017 Earnings Forecast for Kimco Realty Corporation (KIM) Issued By Boenning Scattergood
Kimco Realty Corporation (NYSE:KIM) – Research analysts at Boenning Scattergood increased their Q3 2017 earnings per share (EPS) estimates for shares of Kimco Realty Corporation in a research note issued to investors on Friday. Boenning Scattergood analyst F. Van. Dijkum now expects that the real estate investment trust will post earnings per share of $0.43 for the quarter, up from their prior forecast of $0.39. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Kimco Realty Corporation’s Q4 2017 earnings at $0.42 EPS and FY2017 earnings at $1.63 EPS.
Several other research analysts also recently commented on KIM. BidaskClub raised shares of Kimco Realty Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Citigroup Inc. lifted their price objective on shares of Kimco Realty Corporation from $19.50 to $21.00 and gave the stock a “neutral” rating in a report on Monday, August 14th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $25.00 price objective on shares of Kimco Realty Corporation in a report on Friday, August 4th. Barclays PLC dropped their price objective on shares of Kimco Realty Corporation from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, June 26th. Finally, Zacks Investment Research raised shares of Kimco Realty Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $27.21.
Kimco Realty Corporation (NYSE:KIM) opened at 19.34 on Monday. Kimco Realty Corporation has a one year low of $17.02 and a one year high of $30.70. The firm has a market capitalization of $8.23 billion, a P/E ratio of 39.39 and a beta of 0.67. The stock’s 50 day moving average is $19.43 and its 200 day moving average is $20.76.
Kimco Realty Corporation (NYSE:KIM) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.07. The company had revenue of $292.84 million for the quarter, compared to analyst estimates of $290.95 million. Kimco Realty Corporation had a return on equity of 4.68% and a net margin of 21.77%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company posted $0.37 earnings per share.
A number of institutional investors have recently modified their holdings of KIM. Pacer Advisors Inc. boosted its position in shares of Kimco Realty Corporation by 8.4% in the second quarter. Pacer Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock worth $188,000 after buying an additional 790 shares during the last quarter. Carnegie Capital Asset Management LLC acquired a new position in shares of Kimco Realty Corporation during the second quarter worth approximately $204,000. Creative Planning boosted its position in shares of Kimco Realty Corporation by 31.8% in the second quarter. Creative Planning now owns 11,257 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 2,715 shares during the last quarter. First Allied Advisory Services Inc. boosted its position in shares of Kimco Realty Corporation by 5.6% in the second quarter. First Allied Advisory Services Inc. now owns 10,550 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 564 shares during the last quarter. Finally, Private Asset Management Inc. boosted its position in shares of Kimco Realty Corporation by 1.8% in the second quarter. Private Asset Management Inc. now owns 11,338 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 200 shares during the last quarter. Institutional investors own 91.29% of the company’s stock.
In other Kimco Realty Corporation news, Director Philip E. Coviello, Jr. bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were bought at an average price of $17.37 per share, for a total transaction of $347,400.00. Following the transaction, 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 Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Wednesday, October 4th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date of this dividend is Tuesday, October 3rd. Kimco Realty Corporation’s payout ratio is presently 220.41%.
Kimco Realty Corporation Company Profile
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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