Kimco Realty Corp (KIM) To Go Ex-Dividend on June 7th

Posted by Defense World Staff on Jun 5th, 2023

Kimco Realty Corp (NYSE:KIM – Get Rating) announced a quarterly dividend on Thursday, April 27th, Zacks reports. Stockholders of record on Thursday, June 8th will be given a dividend of 0.23 per share by the real estate investment trust on Thursday, June 22nd. This represents a $0.92 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Wednesday, June 7th.

Kimco Realty has decreased its dividend by an average of 9.1% annually over the last three years and has raised its dividend every year for the last 2 years. Kimco Realty has a payout ratio of 137.3% indicating that 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 $1.62 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 56.8%.

Kimco Realty Price Performance

KIM stock opened at $18.76 on Monday. Kimco Realty has a 52-week low of $17.34 and a 52-week high of $23.89. The stock’s fifty day simple moving average is $18.67 and its 200-day simple moving average is $20.28. The company has a quick ratio of 3.11, a current ratio of 3.11 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $11.63 billion, a price-to-earnings ratio of 78.17, a price-to-earnings-growth ratio of 2.15 and a beta of 1.44.

Analyst Ratings Changes

A number of research analysts recently weighed in on KIM shares. Truist Financial reduced their target price on Kimco Realty from $24.00 to $22.00 in a report on Monday, May 15th. Mizuho reduced their target price on Kimco Realty from $21.00 to $18.00 in a report on Thursday, May 25th. Wells Fargo & Company began coverage on Kimco Realty in a report on Tuesday, May 23rd. They issued an “underweight” rating and a $19.00 target price on the stock. The Goldman Sachs Group began coverage on Kimco Realty in a research note on Tuesday, March 21st. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Compass Point reduced their price objective on Kimco Realty from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, March 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Kimco Realty presently has a consensus rating of “Hold” and a consensus price target of $22.40.

Institutional Investors Weigh In On Kimco Realty

Large investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers acquired a new stake in Kimco Realty in the fourth quarter worth $294,000. Centiva Capital LP bought a new position in shares of Kimco Realty in the fourth quarter worth $293,000. Atria Wealth Solutions Inc. bought a new position in shares of Kimco Realty in the first quarter worth $283,000. Bessemer Group Inc. grew its stake in shares of Kimco Realty by 45.4% in the fourth quarter. Bessemer Group Inc. now owns 12,274 shares of the real estate investment trust’s stock worth $261,000 after purchasing an additional 3,832 shares in the last quarter. Finally, Equitable Holdings Inc. bought a new position in shares of Kimco Realty in the first quarter worth $244,000. 92.33% of the stock is owned by institutional investors and hedge funds.

About Kimco Realty

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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.