Kimco Realty Corp (NYSE:KIM – Get Free Report) declared a quarterly dividend on Friday, February 7th,NASDAQ Dividends reports. Investors of record on Friday, March 7th will be given a dividend of 0.25 per share by the real estate investment trust on Friday, March 21st. This represents a $1.00 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Friday, March 7th.
Kimco Realty has raised its dividend by an average of 12.6% annually over the last three years. Kimco Realty has a payout ratio of 131.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Kimco Realty to earn $1.69 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 59.2%.
Kimco Realty Price Performance
Shares of KIM traded down $0.04 during midday trading on Friday, reaching $22.37. The stock had a trading volume of 8,061,266 shares, compared to its average volume of 4,318,381. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $15.08 billion, a price-to-earnings ratio of 40.68, a price-to-earnings-growth ratio of 2.92 and a beta of 1.50. The company’s 50-day moving average is $23.22 and its 200 day moving average is $23.34. Kimco Realty has a 12-month low of $17.57 and a 12-month high of $25.83.
Kimco Realty (NYSE:KIM – Get Free Report) last released its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. On average, equities analysts predict that Kimco Realty will post 1.64 EPS for the current fiscal year.
Analysts Set New Price Targets
KIM has been the subject of several recent research reports. Jefferies Financial Group downgraded shares of Kimco Realty from a “buy” rating to a “hold” rating and lowered their price target for the stock from $28.00 to $25.00 in a research note on Thursday, January 2nd. Evercore ISI dropped their target price on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. Scotiabank lifted their price target on Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Monday, November 25th. Robert W. Baird increased their price objective on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, UBS Group lifted their target price on shares of Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Ten analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.97.
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.