Kimco Realty (NYSE:KIM) Issues FY 2024 Earnings Guidance

Kimco Realty (NYSE:KIM - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.640-1.650 for the period, compared to the consensus EPS estimate of 1.620. The company issued revenue guidance of -.

Kimco Realty Trading Down 1.2 %

NYSE:KIM traded down $0.30 during mid-day trading on Thursday, reaching $23.72. The company's stock had a trading volume of 6,007,505 shares, compared to its average volume of 4,600,883. The company's fifty day simple moving average is $23.46 and its two-hundred day simple moving average is $21.04. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 1.73. Kimco Realty has a twelve month low of $17.31 and a twelve month high of $24.67. The stock has a market cap of $15.99 billion, a P/E ratio of 43.93, a P/E/G ratio of 4.10 and a beta of 1.50.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings results 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). Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The business had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. During the same period in the previous year, the business posted $0.39 earnings per share. The firm's quarterly revenue was up 13.0% on a year-over-year basis. On average, equities analysts predict that Kimco Realty will post 1.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on KIM shares. Argus raised Kimco Realty to a "strong-buy" rating in a research note on Friday, September 6th. Mizuho downgraded Kimco Realty from an "outperform" rating to a "neutral" rating and raised their price objective for the stock from $20.00 to $23.00 in a report on Monday, August 19th. Scotiabank raised their price objective on Kimco Realty from $21.00 to $23.00 and gave the stock a "sector perform" rating in a report on Monday, August 26th. Robert W. Baird raised their price objective on Kimco Realty from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Finally, 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 report on Wednesday, August 28th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.55.

Insider Activity at Kimco Realty

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the sale, the chief operating officer now owns 337,111 shares in the company, valued at $7,389,473.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.20% of the company's stock.

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.