Kimco Realty Corp (NYSE:KIM) – Investment analysts at SunTrust Banks reduced their FY2021 EPS estimates for Kimco Realty in a research report issued to clients and investors on Monday, May 13th. SunTrust Banks analyst K. Kim now anticipates that the real estate investment trust will post earnings per share of $1.55 for the year, down from their prior forecast of $1.56.
A number of other equities research analysts also recently commented on the company. Evercore ISI downgraded Kimco Realty from an “in-line” rating to an “underperform” rating in a research report on Monday, April 1st. They noted that the move was a valuation call. ValuEngine upgraded Kimco Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Finally, Zacks Investment Research upgraded Kimco Realty from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $17.75.
Kimco Realty (NYSE:KIM) last posted its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.12). Kimco Realty had a net margin of 39.40% and a return on equity of 8.37%. The business had revenue of $295.00 million during the quarter, compared to analysts’ expectations of $282.49 million. During the same quarter in the prior year, the firm earned $0.39 EPS. Kimco Realty’s revenue for the quarter was down 3.0% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be given a $0.28 dividend. The ex-dividend date is Monday, July 1st. This represents a $1.12 dividend on an annualized basis and a yield of 6.19%. Kimco Realty’s dividend payout ratio is currently 77.24%.
In related news, Director Richard B. Saltzman sold 5,500 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $18.39, for a total value of $101,145.00. Following the sale, the director now owns 81,335 shares in the company, valued at approximately $1,495,750.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO David Jamieson sold 16,435 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $18.33, for a total value of $301,253.55. Following the completion of the sale, the chief operating officer now owns 94,211 shares in the company, valued at approximately $1,726,887.63. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of KIM. Legal & General Group Plc raised its holdings in shares of Kimco Realty by 0.9% in the third quarter. Legal & General Group Plc now owns 3,216,111 shares of the real estate investment trust’s stock valued at $53,837,000 after purchasing an additional 27,860 shares during the last quarter. First Midwest Bank Trust Division purchased a new stake in shares of Kimco Realty in the fourth quarter valued at about $153,000. Meeder Asset Management Inc. raised its holdings in shares of Kimco Realty by 5,150.9% in the fourth quarter. Meeder Asset Management Inc. now owns 21,476 shares of the real estate investment trust’s stock valued at $315,000 after purchasing an additional 21,067 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Kimco Realty by 57.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 156,451 shares of the real estate investment trust’s stock valued at $2,292,000 after purchasing an additional 57,280 shares during the last quarter. Finally, Strs Ohio raised its holdings in shares of Kimco Realty by 6.8% in the fourth quarter. Strs Ohio now owns 630,582 shares of the real estate investment trust’s stock valued at $9,238,000 after purchasing an additional 40,405 shares during the last quarter. Hedge funds and other institutional investors own 87.13% of the company’s stock.
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.
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