Kimco Realty Corp (KIM) To Go Ex-Dividend on December 5th

Kimco Realty Corp (NYSE:KIM) announced a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Stockholders of record on Thursday, December 5th will be given a dividend of 0.25 per share by the real estate investment trust on Thursday, December 19th. This represents a $1.00 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Thursday, December 5th. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24.

Kimco Realty has raised its dividend by an average of 19.9% per year over the last three years. Kimco Realty has a dividend payout ratio of 138.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Kimco Realty to earn $1.70 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 58.8%.

Kimco Realty Stock Down 1.4 %

NYSE:KIM opened at $25.22 on Tuesday. The company’s 50 day moving average is $24.17 and its two-hundred day moving average is $22.06. The company has a market cap of $17.00 billion, a PE ratio of 45.85, a P/E/G ratio of 3.35 and a beta of 1.50. Kimco Realty has a twelve month low of $17.57 and a twelve month high of $25.83. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.22). The business had revenue of $507.63 million for the quarter, compared to analyst estimates of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 earnings per share. Analysts anticipate that Kimco Realty will post 1.64 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on KIM shares. Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Mizuho lowered 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 report on Monday, August 19th. Raymond James upgraded Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research note on Friday, August 16th. Wells Fargo & Company lifted their price objective on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Finally, Evercore ISI upped their price target on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kimco Realty currently has an average rating of “Moderate Buy” and an average target price of $24.50.

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.