Kimco Realty (NYSE:KIM) Updates FY24 Earnings Guidance

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

Kimco Realty Price Performance

KIM opened at $18.50 on Thursday. Kimco Realty has a twelve month low of $16.34 and a twelve month high of $22.83. The company has a current ratio of 5.05, a quick ratio of 5.05 and a debt-to-equity ratio of 0.79. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 4.20 and a beta of 1.46. The company has a fifty day simple moving average of $18.93 and a 200 day simple moving average of $19.42.

Kimco Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date was Wednesday, March 6th. Kimco Realty’s payout ratio is 94.12%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Kimco Realty news, Director Frank Lourenso sold 8,890 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $19.42, for a total transaction of $172,643.80. Following the completion of the sale, the director now directly owns 203,534 shares of the company’s stock, valued at $3,952,630.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.20% of the company’s stock.

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.