NYSE:KIM

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. More Details


Snowflake Analysis

Good value with acceptable track record.


Similar Companies

Share Price & News

How has Kimco Realty's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: KIM has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

4.6%

KIM

1.8%

US REITs

1.0%

US Market


1 Year Return

-39.8%

KIM

-11.7%

US REITs

13.6%

US Market

Return vs Industry: KIM underperformed the US REITs industry which returned -11.7% over the past year.

Return vs Market: KIM underperformed the US Market which returned 13.6% over the past year.


Shareholder returns

KIMIndustryMarket
7 Day4.6%1.8%1.0%
30 Day5.6%2.0%-0.4%
90 Day-4.1%2.3%8.9%
1 Year-35.8%-39.8%-8.2%-11.7%16.2%13.6%
3 Year-22.6%-36.4%15.9%2.2%40.2%30.8%
5 Year-33.1%-49.4%49.8%19.9%89.6%68.2%

Price Volatility Vs. Market

How volatile is Kimco Realty's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Kimco Realty undervalued compared to its fair value and its price relative to the market?

10.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: KIM ($12.2) is trading below our estimate of fair value ($13.59)

Significantly Below Fair Value: KIM is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: KIM is good value based on its PE Ratio (5.4x) compared to the US REITs industry average (34.6x).

PE vs Market: KIM is good value based on its PE Ratio (5.4x) compared to the US market (18.4x).


Price to Earnings Growth Ratio

PEG Ratio: KIM's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: KIM is good value based on its PB Ratio (0.9x) compared to the US REITs industry average (1.5x).


Next Steps

Future Growth

How is Kimco Realty forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

-37.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KIM's earnings are forecast to decline over the next 3 years (-37.8% per year).

Earnings vs Market: KIM's earnings are forecast to decline over the next 3 years (-37.8% per year).

High Growth Earnings: KIM's earnings are forecast to decline over the next 3 years.

Revenue vs Market: KIM's revenue (3.3% per year) is forecast to grow slower than the US market (9.7% per year).

High Growth Revenue: KIM's revenue (3.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: KIM's Return on Equity is forecast to be low in 3 years time (6.3%).


Next Steps

Past Performance

How has Kimco Realty performed over the past 5 years?

-6.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KIM has a large one-off gain of $731.4M impacting its June 30 2020 financial results.

Growing Profit Margin: KIM's current net profit margins (87.6%) are higher than last year (29.4%).


Past Earnings Growth Analysis

Earnings Trend: KIM's earnings have declined by 6.8% per year over the past 5 years.

Accelerating Growth: KIM's earnings growth over the past year (187.5%) exceeds its 5-year average (-6.8% per year).

Earnings vs Industry: KIM earnings growth over the past year (187.5%) exceeded the REITs industry 3.3%.


Return on Equity

High ROE: KIM's Return on Equity (18.3%) is considered low.


Next Steps

Financial Health

How is Kimco Realty's financial position?


Financial Position Analysis

Short Term Liabilities: KIM's short term assets ($451.8M) exceed its short term liabilities ($5.4M).

Long Term Liabilities: KIM's short term assets ($451.8M) do not cover its long term liabilities ($5.9B).


Debt to Equity History and Analysis

Debt Level: KIM's debt to equity ratio (94.7%) is considered high.

Reducing Debt: KIM's debt to equity ratio has reduced from 106% to 94.7% over the past 5 years.

Debt Coverage: KIM's debt is not well covered by operating cash flow (9.5%).

Interest Coverage: KIM's interest payments on its debt are not well covered by EBIT (2.2x coverage).


Balance Sheet


Next Steps

Dividend

What is Kimco Realty current dividend yield, its reliability and sustainability?

3.28%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: KIM's dividend (3.28%) is higher than the bottom 25% of dividend payers in the US market (1.66%).

High Dividend: KIM's dividend (3.28%) is low compared to the top 25% of dividend payers in the US market (4.68%).


Stability and Growth of Payments

Stable Dividend: KIM's dividend payments have been volatile in the past 10 years.

Growing Dividend: KIM's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (92.6%), KIM's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: KIM's dividends in 3 years are forecast to be covered by earnings (59.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.6yrs

Average management tenure


CEO

Conor Flynn (39 yo)

4.67yrs

Tenure

US$6,948,567

Compensation

Mr. Conor C. Flynn has been the Chief Executive Officer at Kimco Realty Corporation since January 01, 2016 and served as its President from August 05, 2014 to February 27, 2017. Mr. Flynn joined the firm a ...


CEO Compensation Analysis

Compensation vs Market: Conor's total compensation ($USD6.95M) is about average for companies of similar size in the US market ($USD7.33M).

Compensation vs Earnings: Conor's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Milton Cooper
Co-Founder & Executive Chairman28.83yrsUS$3.81m4.36%
$ 242.5m
Conor Flynn
CEO & Director4.67yrsUS$6.95m0.14%
$ 7.9m
Ross Cooper
President & Chief Investment Officer3.58yrsUS$3.52m0.052%
$ 2.9m
Glenn Cohen
Executive VP10.25yrsUS$3.48m0.076%
$ 4.2m
David Jamieson
Executive VP & COO3.58yrsUS$3.50m0.035%
$ 2.0m
Paul Westbrook
VP & Chief Accounting Officer8.58yrsno data0.017%
$ 924.7k
Kenneth Fisher
VP & CTOno datano datano data
Thomas Taddeo
Senior VP & Chief Information Officerno datano datano data
David Bujnicki
Senior Vice President of Investor Relations & Strategyno datano datano data
Bruce Rubenstein
Executive VP4.58yrsno datano data
Leah Landro
Senior Vice President of Human Resourcesno datano datano data
Raymond Edwards
Executive Vice President of Retailer Services4.08yrsUS$506.11kno data

4.6yrs

Average Tenure

49yo

Average Age

Experienced Management: KIM's management team is considered experienced (4.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Milton Cooper
Co-Founder & Executive Chairman28.83yrsUS$3.81m4.36%
$ 242.5m
Conor Flynn
CEO & Director4.67yrsUS$6.95m0.14%
$ 7.9m
Philip Coviello
Independent Non-Management Director12.33yrsUS$296.00k0.046%
$ 2.6m
Frank Lourenso
Independent Non-Management Director28.75yrsUS$283.50k0.050%
$ 2.8m
Colombe Nicholas
Independent Non-Management Director9.33yrsUS$251.00k0.017%
$ 937.5k
Richard Saltzman
Independent Non-Management Director17.17yrsUS$261.00k0.020%
$ 1.1m
Mary Preusse
Lead Independent Non-Management Director1.67yrsUS$281.00k0.0088%
$ 490.5k
Valerie Richardson
Independent Non-Management Director2.25yrsUS$271.00k0.0070%
$ 387.5k

10.8yrs

Average Tenure

69yo

Average Age

Experienced Board: KIM's board of directors are seasoned and experienced ( 10.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.4%.


Top Shareholders

Company Information

Kimco Realty Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Kimco Realty Corporation
  • Ticker: KIM
  • Exchange: NYSE
  • Founded: 1966
  • Industry: Retail REITs
  • Sector: Real Estate
  • Implied Market Cap: US$5.567b
  • Market Cap: US$5.277b
  • Shares outstanding: 433.23m
  • Website: https://www.kimcorealty.com

Number of Employees


Location

  • Kimco Realty Corporation
  • 500 North Broadway
  • Suite 201
  • Jericho
  • New York
  • 11753
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KIMNYSE (New York Stock Exchange)YesCommon StockUSUSDNov 1991
KICDB (Deutsche Boerse AG)YesCommon StockDEEURNov 1991
0JR1LSE (London Stock Exchange)YesCommon StockGBUSDNov 1991
KIM.PRLNYSE (New York Stock Exchange)5.125% DEP PFD LUSUSDAug 2017
KIM.PRMNYSE (New York Stock Exchange)5.25% DEP SHS MUSUSDDec 2017
K1IM34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH 1 REPR 1 SHS UNSPONBRBRLJan 2020

Biography

Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is one of North America’s largest publicly traded owners and operators of open-air, grocery-anchor ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/19 06:17
End of Day Share Price2020/09/18 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.