Equities analysts forecast that Kimco Realty Corp (NYSE:KIM) will report sales of $280.95 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Kimco Realty’s earnings, with the lowest sales estimate coming in at $267.57 million and the highest estimate coming in at $290.10 million. Kimco Realty posted sales of $283.08 million in the same quarter last year, which suggests a negative year-over-year growth rate of 0.8%. The firm is scheduled to issue its next earnings results on Thursday, October 24th.
According to Zacks, analysts expect that Kimco Realty will report full-year sales of $1.14 billion for the current fiscal year, with estimates ranging from $1.11 billion to $1.16 billion. For the next financial year, analysts forecast that the company will post sales of $1.16 billion, with estimates ranging from $1.11 billion to $1.19 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that cover Kimco Realty.
Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.16). The firm had revenue of $284.87 million during the quarter, compared to the consensus estimate of $281.96 million. Kimco Realty had a return on equity of 7.23% and a net margin of 34.08%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 EPS.
Several research analysts have issued reports on the company. Citigroup increased their price target on Kimco Realty from $18.00 to $18.50 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. ValuEngine lowered Kimco Realty from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded Kimco Realty from a “sell” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Wednesday, May 1st. Bank of America upgraded Kimco Realty from a “neutral” rating to a “buy” rating and increased their price target for the stock from $19.00 to $21.00 in a report on Tuesday, June 11th. Finally, Raymond James downgraded Kimco Realty from an “outperform” rating to a “market perform” rating and set a $18.17 price objective for the company. in a research note on Tuesday, May 28th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Kimco Realty presently has a consensus rating of “Hold” and an average price target of $19.17.
NYSE:KIM traded up $0.02 on Wednesday, hitting $18.97. The stock had a trading volume of 2,358,800 shares, compared to its average volume of 3,713,217. The company’s fifty day moving average price is $18.59. The company has a market cap of $8.01 billion, a P/E ratio of 13.08, a PEG ratio of 3.23 and a beta of 0.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.96 and a current ratio of 1.96. Kimco Realty has a 52 week low of $14.29 and a 52 week high of $19.43.
In other news, Director Frank Lourenso sold 3,380 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $18.84, for a total value of $63,679.20. Following the completion of the sale, the director now directly owns 198,106 shares of the company’s stock, valued at $3,732,317.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.
Several institutional investors have recently modified their holdings of KIM. Capital Growth Management LP purchased a new stake in shares of Kimco Realty in the second quarter worth approximately $28,644,000. Douglas Lane & Associates LLC raised its stake in shares of Kimco Realty by 226.3% in the second quarter. Douglas Lane & Associates LLC now owns 1,534,791 shares of the real estate investment trust’s stock worth $28,363,000 after purchasing an additional 1,064,361 shares during the last quarter. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Kimco Realty in the second quarter worth approximately $12,799,000. Amundi Pioneer Asset Management Inc. raised its stake in shares of Kimco Realty by 30.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 2,682,039 shares of the real estate investment trust’s stock worth $49,619,000 after purchasing an additional 630,652 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Kimco Realty by 216.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 835,653 shares of the real estate investment trust’s stock worth $15,458,000 after purchasing an additional 571,371 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.
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.
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