Capital One Financial Comments on Kimco Realty Corp’s Q1 2018 Earnings (KIM)
Kimco Realty Corp (NYSE:KIM) – Equities research analysts at Capital One Financial reduced their Q1 2018 earnings per share (EPS) estimates for shares of Kimco Realty in a report issued on Wednesday. Capital One Financial analyst C. Lucas now forecasts that the real estate investment trust will post earnings per share of $0.36 for the quarter, down from their prior forecast of $0.37. Capital One Financial also issued estimates for Kimco Realty’s Q2 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.37 EPS, Q4 2018 earnings at $0.35 EPS, FY2018 earnings at $1.45 EPS and FY2019 earnings at $1.52 EPS.
Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.21). Kimco Realty had a net margin of 35.48% and a return on equity of 7.85%. The firm had revenue of $310.63 million for the quarter, compared to the consensus estimate of $297.92 million. During the same quarter last year, the company posted $0.38 earnings per share. Kimco Realty’s revenue for the quarter was up 6.1% compared to the same quarter last year.
Kimco Realty (KIM) opened at $15.29 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16. Kimco Realty has a 1 year low of $13.70 and a 1 year high of $23.65. The stock has a market capitalization of $6,510.00, a P/E ratio of 23.52, a P/E/G ratio of 3.11 and a beta of 0.50.
Several institutional investors and hedge funds have recently added to or reduced their stakes in KIM. Aperio Group LLC lifted its stake in shares of Kimco Realty by 42.4% in the 3rd quarter. Aperio Group LLC now owns 247,388 shares of the real estate investment trust’s stock valued at $4,836,000 after purchasing an additional 73,703 shares during the period. Pictet Asset Management Ltd. lifted its stake in shares of Kimco Realty by 2.9% in the 3rd quarter. Pictet Asset Management Ltd. now owns 227,209 shares of the real estate investment trust’s stock valued at $4,442,000 after purchasing an additional 6,300 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Kimco Realty in the 3rd quarter valued at approximately $259,000. Penserra Capital Management LLC purchased a new position in shares of Kimco Realty in the 3rd quarter valued at approximately $105,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Kimco Realty in the 3rd quarter valued at approximately $1,026,000. Institutional investors own 89.45% of the company’s stock.
In other Kimco Realty news, insider Milton Cooper acquired 50,000 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were purchased at an average cost of $19.20 per share, for a total transaction of $960,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank Lourenso sold 3,380 shares of Kimco Realty stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $15.29, for a total value of $51,680.20. Following the completion of the sale, the director now owns 182,481 shares in the company, valued at $2,790,134.49. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Tuesday, April 3rd will be given a $0.28 dividend. The ex-dividend date is Monday, April 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.33%. Kimco Realty’s dividend payout ratio is currently 172.31%.
Kimco Realty declared that its board has approved a share buyback plan on Thursday, February 15th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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Kimco Realty Company Profile
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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