Kimco Realty Set to Release Q4 Earnings: Analysts Optimistic
Market Insights and Future Projections
Valued at a market cap of $14.8 billion, Kimco Realty Corporation (KIM) specializes in open-air, grocery-anchored shopping center management and is headquartered in New York. The company plans to announce its fiscal Q4 earnings before the markets open on Friday, February 7.
Analysts anticipate KIM’s funds from operations (FFO) to increase by 7.7% year-over-year, reaching $0.42 per share. Notably, Kimco has either met or exceeded Wall Street’s earnings estimates in each of the last four quarters. The most recent quarter showed an FFO of $0.43 per share, which surpassed expectations by 4.9%.
Fiscal Forecasts and Growth Expectations
For fiscal 2024, projections indicate that KIM’s FFO will rise to $1.64 per share, marking an increase of 4.5% from $1.57 per share in fiscal 2023. Looking ahead to fiscal 2025, the forecast is for FFO to grow by 3.7% year-over-year to $1.70 per share.
Stock Performance and Market Comparison
Over the past 52 weeks, KIM’s stock has risen by 6.8%, outperforming the S&P 500 Index’s (SPX) 24.4% increase. It also exceeded the Real Estate Select Sector SPDR Fund’s (XLRE) modest gain of 1.6% during the same timeframe.
Recent Earnings and Analyst Insights
On October 31, KIM shares fell by 1.3% following the release of its Q3 earnings. This decline was influenced by a rise in pro rata interest expense due to increased debt levels and a $50 million cut in the company’s asset sales outlook. Despite these challenges, KIM reported an FFO of $0.43 per share, which was a 7.5% increase compared to the previous year, outpacing the consensus estimate of $0.41. Additionally, revenue reached $507.6 million, exceeding projections by 1.5%. Kimco also raised its full-year 2024 FFO and net income guidance, demonstrating strong financial fundamentals.
The overall analyst consensus for Kimco Realty stock presents a cautiously optimistic outlook, earning a “Moderate Buy” rating. Among the 22 analysts analyzing the stock, there are seven “Strong Buy” ratings and 15 “Holds.”
The average price target of $25.76 indicates a potential upside of 16.9% based on current market prices.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here. More news from Barchart
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