Kimco Realty Corp Plans Quarterly Dividend of $0.24 (NYSE:KIM)

Kimco Realty Corp (NYSE:KIM - Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders of record on Thursday, June 6th will be paid a dividend of 0.24 per share by the real estate investment trust on Thursday, June 20th. This represents a $0.96 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Thursday, June 6th.

Kimco Realty has increased its dividend payment by an average of 19.9% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Kimco Realty has a payout ratio of 124.7% 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 $1.66 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 57.8%.

Kimco Realty Stock Up 0.8 %

NYSE:KIM traded up $0.14 during trading hours on Friday, reaching $19.11. The company's stock had a trading volume of 6,729,038 shares, compared to its average volume of 5,508,528. The company has a debt-to-equity ratio of 0.79, a quick ratio of 5.05 and a current ratio of 5.05. The company has a market capitalization of $12.88 billion, a P/E ratio of 18.59, a price-to-earnings-growth ratio of 4.17 and a beta of 1.46. The stock has a 50 day moving average price of $18.91 and a two-hundred day moving average price of $19.42. Kimco Realty has a 12 month low of $16.34 and a 12 month high of $22.83.

Insider Activity

In other news, Director Frank Lourenso sold 8,890 shares of the business's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $19.42, for a total transaction of $172,643.80. Following the sale, the director now owns 203,534 shares in the company, valued at $3,952,630.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.20% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on KIM shares. Mizuho reduced their target price on Kimco Realty from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Friday, February 23rd. Robert W. Baird dropped their target price on Kimco Realty from $23.00 to $21.00 and set an "outperform" rating on the stock in a report on Thursday, April 4th. Citigroup reaffirmed a "neutral" rating and issued a $20.00 target price (down from $26.00) on shares of Kimco Realty in a report on Friday, March 22nd. Bank of America reaffirmed a "neutral" rating and set a $20.00 price target (down from $24.00) on shares of Kimco Realty in a report on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Kimco Realty in a research report on Tuesday, January 30th. They set a "hold" rating and a $23.00 target price on the stock. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $21.48.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.