Kimco Realty (NYSE:KIM) Releases FY24 Earnings Guidance

Kimco Realty (NYSE:KIM - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $1.56-1.60 for the period, compared to the consensus EPS estimate of $1.58.

Kimco Realty Stock Up 2.5 %

KIM traded up $0.46 during trading hours on Thursday, hitting $18.96. 5,768,378 shares of the company's stock were exchanged, compared to its average volume of 5,494,170. Kimco Realty has a 1-year low of $16.34 and a 1-year high of $22.83. The stock's 50-day moving average is $18.93 and its two-hundred day moving average is $19.42. The stock has a market cap of $12.78 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 4.20 and a beta of 1.46. The company has a quick ratio of 5.05, a current ratio of 5.05 and a debt-to-equity ratio of 0.79.

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.06%. The ex-dividend date was Wednesday, March 6th. Kimco Realty's payout ratio is 94.12%.

Analyst Ratings Changes

KIM has been the subject of several recent research reports. Robert W. Baird reduced their target price on shares of Kimco Realty from $23.00 to $21.00 and set an outperform rating for the company in a report on Thursday, April 4th. Mizuho cut their price target on shares of Kimco Realty from $22.00 to $21.00 and set a buy rating for the company in a research note on Friday, February 23rd. Deutsche Bank Aktiengesellschaft began coverage on shares of Kimco Realty in a research note on Tuesday, January 30th. They issued a hold rating and a $23.00 price target for the company. Citigroup reiterated a neutral rating and issued a $20.00 price target (down previously from $26.00) on shares of Kimco Realty in a research note on Friday, March 22nd. Finally, Bank of America reiterated a neutral rating and issued a $20.00 price target (down previously from $24.00) on shares of Kimco Realty in a research note on Friday, April 5th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Kimco Realty has an average rating of Hold and an average price target of $21.48.

Insider Activity

In related news, Director Frank Lourenso sold 8,890 shares of the firm's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $19.42, for a total transaction of $172,643.80. Following the transaction, the director now directly owns 203,534 shares of the company's stock, valued at $3,952,630.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.