Kimco Realty Corp (KIM) Releases Earnings Results, Beats Expectations By $0.01 EPS

Kimco Realty Corp (KIM) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.37 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.36. The company posted revenue of $297.20 million in the period, compared to analysts expectations of $294.40 million. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on Kimco Realty Corp. Mizuho Initiated Kimco Realty Corp on Apr 14, 2016 to “Neutral”, Price Target of the shares are set at $28.50.Company shares were Reiterated by Stifel on Mar 31, 2016 to “Buy”, Firm has raised the Price Target to $ 31 from a previous price target of $29 .Company shares were Reiterated by Canaccord Genuity on Mar 28, 2016 to “Buy”, Firm has raised the Price Target to $ 31 from a previous price target of $29 .

Kimco Realty Corp opened for trading at $27.94 and hit $28.29 on the upside on Friday, eventually ending the session at $28.22, with a gain of 1.18% or 0.33 points. The heightened volatility saw the trading volume jump to 24,96,975 shares. Company has a market cap of $11,675 M.

In a different news, on Mar 30, 2016, Paul Westbrook (VP – Cheif Accounting Officer) sold 7,429 shares at $28.48 per share price. According to the SEC, on Mar 17, 2016, Glenn Gary Cohen (EVP – CFO and Treasurer) sold 23,300 shares at $28.33 per share price. On Feb 17, 2016, Frank Lourenso (director) sold 6,099 shares at $26.49 per share price, according to the Form-4 filing with the securities and exchange commission.

Kimco Realty Corporation (Kimco) is a self-administered real estate investment trust (REIT) which owns and operates neighborhood and community shopping centers. The Company had interests in approximately 754 shopping center properties aggregating 109.5 million square feet of gross leasable area (GLA) and 533 other property interests primarily through the Company’s preferred equity investments and other real estate investments totaling approximately 11.7 million square feet of GLA for a total of 1287 properties aggregating 121.2 million square feet of GLA located in 41 states in the United States and also in Puerto Rico Canada Mexico and Chile. The Company’s investment strategy is to be the owner and operator of neighborhood and community shopping centers through investments primarily in the United States. The Company’s tenants include TJX Companies The Home Depot Wal-Mart Kohl’s and Bed Bath.

Kimco Realty Corp

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