Kimco Realty Corp (NYSE:KIM) Declares Quarterly Dividend of $0.25

Kimco Realty Corp (NYSE:KIM - Get Free Report) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Shareholders of record on Thursday, December 5th will be paid a dividend of 0.25 per share by the real estate investment trust on Thursday, December 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Thursday, December 5th. This is a boost from Kimco Realty's previous quarterly dividend of $0.24.

Kimco Realty has increased its dividend by an average of 19.9% per year over the last three years. Kimco Realty has a payout ratio of 141.2% indicating that 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 $0.96 annual dividend with an expected future payout ratio of 56.8%.

Kimco Realty Trading Up 0.5 %

Shares of KIM traded up $0.11 during midday trading on Friday, reaching $23.83. The company had a trading volume of 3,614,304 shares, compared to its average volume of 4,596,229. Kimco Realty has a 1-year low of $17.51 and a 1-year high of $24.67. The stock has a market cap of $16.06 billion, a PE ratio of 44.13, a price-to-earnings-growth ratio of 4.09 and a beta of 1.50. The firm has a 50 day simple moving average of $23.47 and a 200-day simple moving average of $21.08. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.72.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.23). The business had revenue of $500.20 million for the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The firm's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 earnings per share. Research analysts forecast that Kimco Realty will post 1.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Kimco Realty from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Wells Fargo & Company raised their price objective on Kimco Realty from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 28th. Evercore ISI raised their price objective on Kimco Realty from $22.00 to $23.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Piper Sandler reissued an "overweight" rating and set a $29.00 price objective (up from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Finally, Compass Point lifted their target price on Kimco Realty from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.55.

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.