Equities Analysts Offer Predictions for Kimco Realty Corp's Q3 2024 Earnings (NYSE:KIM)

Kimco Realty Corp (NYSE:KIM - Free Report) - Analysts at Zacks Research raised their Q3 2024 EPS estimates for Kimco Realty in a research report issued to clients and investors on Thursday, August 22nd. Zacks Research analyst R. Department now anticipates that the real estate investment trust will post earnings of $0.40 per share for the quarter, up from their previous forecast of $0.39. The consensus estimate for Kimco Realty's current full-year earnings is $1.60 per share. Zacks Research also issued estimates for Kimco Realty's FY2024 earnings at $1.61 EPS, Q1 2025 earnings at $0.40 EPS, Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.43 EPS, Q4 2025 earnings at $0.43 EPS, FY2025 earnings at $1.67 EPS and FY2026 earnings at $1.73 EPS.

KIM has been the subject of several other research reports. Raymond James upgraded shares of Kimco Realty from a "market perform" rating to a "strong-buy" rating and set a $25.00 price objective for the company in a research note on Friday, August 16th. JPMorgan Chase & Co. upped their target price on Kimco Realty from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Scotiabank lifted their target price on Kimco Realty from $21.00 to $23.00 and gave the company a "sector perform" rating in a research report on Monday. Piper Sandler reissued an "overweight" rating and issued a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Finally, Robert W. Baird upped their target price on Kimco Realty from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.75.

Kimco Realty Stock Performance

NYSE:KIM traded up $0.16 during mid-day trading on Monday, hitting $23.39. 2,640,987 shares of the stock were exchanged, compared to its average volume of 4,767,667. Kimco Realty has a fifty-two week low of $16.34 and a fifty-two week high of $23.53. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.73. The stock has a market capitalization of $15.77 billion, a price-to-earnings ratio of 44.13, a price-to-earnings-growth ratio of 4.23 and a beta of 1.51. The firm's 50-day simple moving average is $20.85 and its 200 day simple moving average is $19.65.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.23). The company had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The firm's quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company posted $0.39 EPS.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a yield of 4.10%. Kimco Realty's dividend payout ratio (DPR) is currently 181.13%.

Insiders Place Their Bets

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total value of $1,096,000.00. Following the completion of the sale, the chief operating officer now directly owns 337,111 shares in the company, valued at $7,389,473.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Kimco Realty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board bought a new stake in shares of Kimco Realty during the first quarter valued at approximately $200,043,000. Vanguard Group Inc. raised its holdings in Kimco Realty by 7.7% during the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust's stock worth $2,162,347,000 after buying an additional 7,931,013 shares during the last quarter. Norges Bank bought a new position in shares of Kimco Realty in the fourth quarter valued at $150,326,000. Centersquare Investment Management LLC grew its holdings in shares of Kimco Realty by 76.8% during the first quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust's stock valued at $269,531,000 after buying an additional 6,282,891 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Kimco Realty during the fourth quarter valued at about $84,678,000. 89.25% of the stock is owned by institutional investors.

Kimco Realty Company Profile

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.