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

Key Points

• Kimco Realty Corporation declared a quarterly dividend of $0.25 per share, effective for shareholders of record by September 5th, translating to an annualized yield of 4.8%.
• The company's current payout ratio stands at 135.1%, indicating it is relying on its balance sheet rather than earnings to cover dividend payments, though expected earnings suggest a more sustainable payout in the future.
• In its latest earnings report, Kimco Realty reported $0.44 earnings per share, exceeding expectations, with revenue of $525.18 million, reflecting a 5.0% increase compared to the same quarter last year.

Kimco Realty Corporation (NYSE:KIM - Get Free Report) declared a quarterly dividend on Friday, August 1st, Wall Street Journal reports. Stockholders of record on Friday, September 5th will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, September 19th. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, September 5th.

Kimco Realty has a payout ratio of 135.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Kimco Realty to earn $1.76 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 56.8%.

Kimco Realty Stock Performance

Shares of Kimco Realty stock traded up $0.07 during trading on Tuesday, reaching $21.12. The company's stock had a trading volume of 1,061,307 shares, compared to its average volume of 4,870,790. The company has a 50-day moving average price of $21.26 and a two-hundred day moving average price of $21.22. The firm has a market cap of $14.28 billion, a PE ratio of 25.45, a P/E/G ratio of 1.51 and a beta of 1.31. Kimco Realty has a fifty-two week low of $17.93 and a fifty-two week high of $25.83. The company has a current ratio of 3.92, a quick ratio of 3.47 and a debt-to-equity ratio of 0.76.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%. The firm had revenue of $525.18 million during the quarter, compared to the consensus estimate of $524.75 million. During the same period last year, the company earned $0.41 earnings per share. The company's revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts forecast that Kimco Realty will post 1.71 EPS for the current year.

Institutional Investors Weigh In On Kimco Realty

A number of institutional investors have recently added to or reduced their stakes in KIM. Compound Planning Inc. lifted its position in shares of Kimco Realty by 3.4% in the first quarter. Compound Planning Inc. now owns 14,759 shares of the real estate investment trust's stock valued at $313,000 after buying an additional 485 shares during the last quarter. GF Fund Management CO. LTD. lifted its position in shares of Kimco Realty by 4.2% in the first quarter. GF Fund Management CO. LTD. now owns 12,767 shares of the real estate investment trust's stock valued at $271,000 after buying an additional 517 shares during the last quarter. Global Assets Advisory LLC grew its position in shares of Kimco Realty by 5.4% in the fourth quarter. Global Assets Advisory LLC now owns 10,363 shares of the real estate investment trust's stock valued at $238,000 after purchasing an additional 528 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Kimco Realty by 0.9% in the first quarter. Oregon Public Employees Retirement Fund now owns 58,335 shares of the real estate investment trust's stock valued at $1,239,000 after purchasing an additional 530 shares during the last quarter. Finally, Pitcairn Co. grew its position in shares of Kimco Realty by 4.0% in the fourth quarter. Pitcairn Co. now owns 14,568 shares of the real estate investment trust's stock valued at $341,000 after purchasing an additional 567 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

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.