Kimco Realty Corporation (NYSE:KIM) Shares Set to Pay Quarterly Dividend of $0.28

Kimco Realty Corporation (NYSE:KIM) announced a quarterly dividend on Thursday, October 29th. Shareholders of record on Friday, December 4th will be paid a dividend of $0.28 per share by the real estate investment trust on Friday, December 18th. This represents a $1.12 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, December 4th.

Kimco Realty has raised its dividend by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Kimco Realty has a dividend payout ratio of 151.4% 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 $1.91 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 58.6%.

Kimco Realty Stock Performance

KIM stock traded up $0.98 during midday trading on Thursday, reaching $24.38. 6,961,831 shares of the company’s stock traded hands, compared to its average volume of 5,199,874. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.84. Kimco Realty has a 52-week low of $19.76 and a 52-week high of $26.65. The stock has a market cap of $16.35 billion, a P/E ratio of 28.68, a PEG ratio of 2.69 and a beta of 0.94. The stock’s 50-day moving average is $23.05 and its 200 day moving average is $23.46.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. Kimco Realty had a net margin of 27.76% and a return on equity of 5.76%. The business had revenue of $546.15 million for the quarter, compared to analysts’ expectations of $549.06 million. During the same quarter last year, the company posted $0.44 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. As a group, analysts anticipate that Kimco Realty will post 1.84 EPS for the current year.

Kimco Realty Company Profile

Kimco Realty Corporation is a real estate investment trust that owns, operates and develops open-air, grocery-anchored shopping centers and mixed-use properties in the United States. Its properties are designed to serve everyday consumer needs and typically include grocery stores, restaurants, service businesses, retailers and other essential tenants.

The company’s portfolio is concentrated in major metropolitan areas and high-density communities, with a focus on locations that offer convenient access, strong surrounding demographics and complementary tenant mixes.