Kimco Realty Corp (NYSE:KIM) Announces $0.25 Quarterly Dividend

Kimco Realty Corp (NYSE:KIM) declared a quarterly dividend on Friday, February 7th,NASDAQ Dividends reports. Investors of record on Friday, March 7th will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, March 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Friday, March 7th.

Kimco Realty has raised its dividend by an average of 12.6% annually over the last three years. Kimco Realty has a payout ratio of 131.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Kimco Realty to earn $1.69 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 59.2%.

Kimco Realty Stock Performance

KIM traded down $0.04 during trading on Friday, reaching $22.37. 8,061,266 shares of the company’s stock were exchanged, compared to its average volume of 4,318,381. Kimco Realty has a fifty-two week low of $17.57 and a fifty-two week high of $25.83. The company has a market capitalization of $15.08 billion, a P/E ratio of 40.68, a PEG ratio of 2.92 and a beta of 1.50. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. The business has a 50 day moving average price of $23.22 and a 200 day moving average price of $23.34.

Kimco Realty (NYSE:KIM) last issued its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. As a group, analysts predict that Kimco Realty will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KIM. Robert W. Baird increased their target price on Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Scotiabank increased their price objective on Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Monday, November 25th. Evercore ISI reduced their target price on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. JPMorgan Chase & Co. cut shares of Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 target price for the company. in a research report on Friday, December 20th. Finally, UBS Group boosted their price target on shares of Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Ten research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.97.

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.