Kimco Realty Corp (KIM) to Issue Quarterly Dividend of $0.25 on March 21st

Kimco Realty Corp (NYSE:KIM) announced 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 annualized dividend and a yield of 4.65%. 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 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 Price Performance

NYSE:KIM opened at $21.52 on Wednesday. The firm has a market cap of $14.62 billion, a P/E ratio of 38.42, a PEG ratio of 2.78 and a beta of 1.50. Kimco Realty has a 52-week low of $17.57 and a 52-week high of $25.83. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. The business’s 50-day moving average price is $22.35 and its 200 day moving average price is $23.38.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. As a group, sell-side analysts predict that Kimco Realty will post 1.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KIM has been the topic of a number of recent analyst reports. Evercore ISI cut their price objective on 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. Robert W. Baird lifted their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Wells Fargo & Company cut their price objective on Kimco Realty from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. UBS Group lifted their price target on shares of Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Ten investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.43.

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.