Kimco Realty (NYSE:KIM) released its earnings results on Thursday. The real estate investment trust reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.21), Yahoo Finance reports. The firm had revenue of $310.63 million during the quarter, compared to the consensus estimate of $297.92 million. Kimco Realty had a net margin of 35.51% and a return on equity of 7.73%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. Kimco Realty updated its FY18 guidance to $1.42-1.46 EPS.
Kimco Realty (KIM) traded up $0.53 during midday trading on Friday, reaching $15.20. 7,789,531 shares of the company’s stock traded hands, compared to its average volume of 6,373,949. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16. Kimco Realty has a twelve month low of $13.70 and a twelve month high of $24.75. The stock has a market capitalization of $6,380.00, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 2.02 and a beta of 0.46.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Tuesday, April 3rd will be given a dividend of $0.28 per share. The ex-dividend date is Monday, April 2nd. This represents a $1.12 annualized dividend and a yield of 7.37%. Kimco Realty’s payout ratio is 130.23%.
A number of hedge funds and other institutional investors have recently bought and sold shares of KIM. Penserra Capital Management LLC purchased a new stake in shares of Kimco Realty during the third quarter worth about $105,000. Orinda Asset Management LLC purchased a new stake in shares of Kimco Realty during the fourth quarter worth about $182,000. Kelman Lazarov Inc. purchased a new stake in shares of Kimco Realty during the fourth quarter worth about $189,000. Eqis Capital Management Inc. purchased a new stake in shares of Kimco Realty during the third quarter worth about $201,000. Finally, Stoneridge Investment Partners LLC purchased a new stake in shares of Kimco Realty during the third quarter worth about $203,000. Institutional investors and hedge funds own 91.37% of the company’s stock.
Kimco Realty announced that its board has initiated a stock repurchase plan on Thursday, February 15th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts recently commented on the company. Robert W. Baird reissued a “buy” rating and issued a $23.00 target price on shares of Kimco Realty in a research note on Friday, November 10th. Mizuho set a $20.00 target price on Kimco Realty and gave the company a “hold” rating in a research note on Monday, December 18th. Stifel Nicolaus assumed coverage on Kimco Realty in a research note on Thursday, November 30th. They issued a “hold” rating and a $19.50 target price on the stock. BMO Capital Markets set a $21.00 target price on Kimco Realty and gave the company a “hold” rating in a research note on Wednesday, October 25th. Finally, JPMorgan Chase & Co. cut Kimco Realty from an “overweight” rating to a “neutral” rating and set a $20.00 target price on the stock. in a research note on Friday, December 15th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. Kimco Realty presently has a consensus rating of “Hold” and an average target price of $20.81.
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Kimco Realty 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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