Kimco Realty Corp Plans Quarterly Dividend of $0.28 (NYSE:KIM)

Kimco Realty Corp (NYSE:KIM) declared a quarterly dividend on Friday, May 3rd, Wall Street Journal reports. Stockholders of record on Tuesday, July 2nd will be paid a dividend of 0.28 per share by the real estate investment trust on Monday, July 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date is Monday, July 1st.

Kimco Realty has raised its dividend by an average of 5.3% per year over the last three years and has increased its dividend every year for the last 9 years. Kimco Realty has a payout ratio of 77.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Kimco Realty to earn $1.51 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 74.2%.

Shares of NYSE KIM traded down $0.34 during midday trading on Friday, reaching $17.89. The company’s stock had a trading volume of 3,169,803 shares, compared to its average volume of 2,969,985. Kimco Realty has a 12-month low of $14.29 and a 12-month high of $19.29. The firm has a 50 day moving average price of $18.40. The firm has a market cap of $7.55 billion, a PE ratio of 12.34, a P/E/G ratio of 3.03 and a beta of 0.59. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.96 and a quick ratio of 1.96.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.24 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.12). Kimco Realty had a net margin of 39.40% and a return on equity of 8.37%. The firm had revenue of $295.00 million during the quarter, compared to analysts’ expectations of $282.49 million. During the same quarter in the previous year, the company posted $0.39 EPS. Kimco Realty’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities analysts anticipate that Kimco Realty will post 1.46 EPS for the current fiscal year.

In related news, Director Frank Lourenso sold 3,380 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $18.84, for a total value of $63,679.20. Following the completion of the transaction, the director now directly owns 198,106 shares of the company’s stock, valued at $3,732,317.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.90% of the company’s stock.

KIM has been the topic of several research analyst reports. Raymond James reiterated a “buy” rating on shares of Tamarack-Valley-Energy in a research note on Tuesday, May 28th. Zacks Investment Research cut shares of W. R. Grace & Co from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Evercore ISI cut shares of Essex Property Trust from an “outperform” rating to an “in-line” rating in a report on Monday, April 1st. Finally, Bank of America upped their target price on shares of Armstrong World Industries from $95.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $18.36.

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.

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Dividend History for Kimco Realty (NYSE:KIM)

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