Zacks: Brokerages Expect Kimco Realty Corp (KIM) Will Post Quarterly Sales of $300.10 Million
Equities analysts forecast that Kimco Realty Corp (NYSE:KIM) will announce sales of $300.10 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Kimco Realty’s earnings, with estimates ranging from $289.04 million to $307.83 million. Kimco Realty posted sales of $289.39 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The company is expected to report its next earnings results on Wednesday, April 25th.
On average, analysts expect that Kimco Realty will report full year sales of $300.10 million for the current financial year, with estimates ranging from $1.16 billion to $1.24 billion. For the next year, analysts expect that the firm will post sales of $1.22 billion per share, with estimates ranging from $1.18 billion to $1.27 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Kimco Realty.
Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.21). Kimco Realty had a return on equity of 7.85% and a net margin of 35.48%. The business had revenue of $310.63 million during the quarter, compared to the consensus estimate of $297.92 million. During the same quarter last year, the company earned $0.38 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year.
In related news, Director Frank Lourenso sold 3,380 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $15.29, for a total transaction of $51,680.20. Following the completion of the transaction, the director now directly owns 182,481 shares in the company, valued at $2,790,134.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.90% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of KIM. Penserra Capital Management LLC acquired a new position in Kimco Realty during the third quarter valued at approximately $105,000. Orinda Asset Management LLC acquired a new position in Kimco Realty during the fourth quarter valued at approximately $182,000. Kelman Lazarov Inc. acquired a new position in Kimco Realty during the fourth quarter valued at approximately $189,000. Stoneridge Investment Partners LLC acquired a new position in Kimco Realty during the third quarter valued at approximately $203,000. Finally, TIAA FSB acquired a new position in Kimco Realty during the fourth quarter valued at approximately $211,000. Institutional investors and hedge funds own 89.30% of the company’s stock.
Shares of Kimco Realty (NYSE:KIM) traded down $0.15 during trading on Friday, hitting $15.14. The company’s stock had a trading volume of 6,681,382 shares, compared to its average volume of 6,114,160. Kimco Realty has a 12 month low of $13.70 and a 12 month high of $23.31. The company has a market capitalization of $6,505.21, a P/E ratio of 17.57, a P/E/G ratio of 3.14 and a beta of 0.50. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.16.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Tuesday, April 3rd will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, April 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.40%. Kimco Realty’s payout ratio is presently 128.74%.
Kimco Realty declared that its board has initiated a share buyback program on Thursday, February 15th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
About Kimco Realty
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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