Jericho, New York-based Kimco Realty Corporation (KIM) is a real estate investment trust (REIT). With a market cap of $14.3 billion, it specializes in owning and operating open-air, grocery-anchored shopping centers across North America alongside a growing portfolio of mixed-use assets. The company is expected to announce its Q2 earnings before the market opens on Thursday, Aug. 1.
Ahead of the event, analysts expect Kimco Realty to report funds from operations (FFO) of $0.40 per share, up 2.6% from $0.39 per share reported in the year-ago quarter. The company has consistently surpassed or met Wall Street’s FFO estimates in each of the past four quarters. The company reported an FFO of $0.39 per share in the most recent quarter, exceeding the consensus estimate by 2.6%.
In fiscal 2024, analysts expect Kimco Realty to report an FFO of $1.60 per share, up 1.9% from $1.57 per share in fiscal 2023. In fiscal 2025, its FFO is expected to grow 4.4% year over year to $1.67 per share.
KIM stock is up 2.6% on a YTD basis, underperforming the S&P 500 Index’s ($SPX) 17.6% gains and the S&P 500 Real Estate Sector SPDR’s (XLRE) 3.2% returns over the same time frame.
Kimco Realty stock rose 2.5% after its Q1 results on May 2. The company’s revenues for the quarter jumped 13.7%, and FFO grew by 10%. In addition, the company has maintained consistent quarterly dividend payouts in recent years.
The consensus opinion on Kimco Realty stock is cautiously optimistic, with a “Moderate Buy” rating overall. Of the 21 analysts covering the stock, nine suggest a “Strong Buy” rating, and 12 recommend a “Hold.” Currently, KIM is trading slightly above the average target price of $21.82.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
