Kimco Realty Corp (KIM) to Issue Quarterly Dividend of $0.24 on June 20th

Kimco Realty Corp (NYSE:KIM) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders of record on Thursday, June 6th will be paid a dividend of 0.24 per share by the real estate investment trust on Thursday, June 20th. This represents a $0.96 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Thursday, June 6th.

Kimco Realty has raised its dividend payment by an average of 19.9% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Kimco Realty has a payout ratio of 124.7% 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 $1.66 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 57.8%.

Kimco Realty Trading Up 0.8 %

Shares of KIM opened at $19.11 on Friday. The stock’s fifty day simple moving average is $18.90 and its 200-day simple moving average is $19.43. The company has a quick ratio of 5.05, a current ratio of 1.86 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $12.88 billion, a PE ratio of 36.05, a price-to-earnings-growth ratio of 4.29 and a beta of 1.46. Kimco Realty has a 12-month low of $16.34 and a 12-month high of $22.83.

Wall Street Analyst Weigh In

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

Insider Activity at Kimco Realty

In other Kimco Realty news, Director Frank Lourenso sold 8,890 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $19.42, for a total transaction of $172,643.80. Following the sale, the director now directly owns 203,534 shares in the company, valued at approximately $3,952,630.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is owned by insiders.

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.