Kimco Realty Corp (NYSE:KIM) – Equities researchers at Jefferies Financial Group decreased their FY2021 earnings per share estimates for shares of Kimco Realty in a report released on Wednesday, January 13th. Jefferies Financial Group analyst L. Tsai now forecasts that the real estate investment trust will post earnings of $1.22 per share for the year, down from their previous forecast of $1.23. Jefferies Financial Group also issued estimates for Kimco Realty’s Q4 2022 earnings at $0.32 EPS.
Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.36). The business had revenue of $256.61 million for the quarter, compared to the consensus estimate of $246.87 million. Kimco Realty had a return on equity of 17.35% and a net margin of 83.81%. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 EPS.
NYSE KIM opened at $15.92 on Thursday. The company has a fifty day moving average of $14.93 and a two-hundred day moving average of $12.70. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 7.88 and a beta of 1.45. Kimco Realty has a 52 week low of $7.45 and a 52 week high of $20.56.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 23rd. Shareholders of record on Wednesday, December 9th were given a dividend of $0.16 per share. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, December 8th. This represents a $0.64 annualized dividend and a yield of 4.02%. Kimco Realty’s payout ratio is 43.54%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in KIM. JPMorgan Chase & Co. raised its holdings in shares of Kimco Realty by 40.7% in the third quarter. JPMorgan Chase & Co. now owns 19,823,848 shares of the real estate investment trust’s stock worth $223,614,000 after acquiring an additional 5,732,064 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Kimco Realty by 466.5% during the third quarter. BNP Paribas Arbitrage SA now owns 1,226,255 shares of the real estate investment trust’s stock worth $13,808,000 after purchasing an additional 1,009,779 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Kimco Realty by 2,877.9% during the third quarter. SG Americas Securities LLC now owns 912,626 shares of the real estate investment trust’s stock worth $10,276,000 after purchasing an additional 881,979 shares during the last quarter. BlackRock Inc. boosted its holdings in Kimco Realty by 1.9% during the third quarter. BlackRock Inc. now owns 37,420,281 shares of the real estate investment trust’s stock worth $421,350,000 after purchasing an additional 694,767 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in Kimco Realty by 315.3% during the third quarter. Teacher Retirement System of Texas now owns 669,048 shares of the real estate investment trust’s stock worth $7,533,000 after purchasing an additional 507,931 shares during the last quarter. 82.72% of the stock is currently owned by institutional investors.
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.
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