Kimco Realty Corporation (KIM) To Go Ex-Dividend on March 6th

Kimco Realty Corporation (NYSE:KIM) declared a quarterly dividend on Thursday, February 12th. Stockholders of record on Friday, March 6th will be given a dividend of 0.26 per share by the real estate investment trust on Thursday, March 19th. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, March 6th.

Kimco Realty has decreased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 2 years. Kimco Realty has a payout ratio of 140.5% 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 $1.76 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 59.1%.

Kimco Realty Price Performance

Shares of KIM stock opened at $22.70 on Friday. The firm has a fifty day simple moving average of $20.72 and a 200-day simple moving average of $21.16. The company has a market capitalization of $15.37 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. Kimco Realty has a twelve month low of $17.93 and a twelve month high of $22.97. The company has a current ratio of 3.31, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KIM. Scotiabank lowered their target price on Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, November 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Kimco Realty in a research report on Thursday, January 22nd. Robert W. Baird set a $25.00 price objective on shares of Kimco Realty in a research note on Friday. Truist Financial dropped their target price on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a research report on Tuesday, January 20th. Finally, Barclays restated an “overweight” rating and issued a $25.00 target price on shares of Kimco Realty in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.97.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.