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Kimco Realty

NYSE:KIM
Snowflake Description

Average dividend payer and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KIM
NYSE
$8B
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. The last earnings update was 77 days ago. More info.


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KIM Share Price and Events
7 Day Returns
-2.8%
NYSE:KIM
-0.8%
US REITs
-0.3%
US Market
1 Year Returns
7.4%
NYSE:KIM
9.3%
US REITs
3.9%
US Market
KIM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kimco Realty (KIM) -2.8% -6.2% 2.1% 7.4% -43.2% -23.3%
US REITs -0.8% -1.9% 3.8% 9.3% 2.7% 23.5%
US Market -0.3% 2.3% 2.3% 3.9% 36.7% 41.8%
1 Year Return vs Industry and Market
  • KIM underperformed the REITs industry which returned 9.3% over the past year.
  • KIM outperformed the Market in United States of America which returned 3.9% over the past year.
Price Volatility
KIM
Industry
5yr Volatility vs Market

KIM Value

 Is Kimco Realty undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Kimco Realty to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Kimco Realty.

NYSE:KIM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:KIM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.48
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.476 (1 + (1- 21%) (64.4%))
0.811
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.811 * 5.96%)
7.56%

Discounted Cash Flow Calculation for NYSE:KIM using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Kimco Realty is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Kimco Realty is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:KIM DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 7.56%)
2020 477.10 Analyst x8 443.56
2021 495.68 Analyst x4 428.43
2022 492.80 Analyst x1 395.99
2023 499.10 Analyst x1 372.86
2024 507.68 Est @ 1.72% 352.60
2025 517.95 Est @ 2.02% 334.44
2026 529.52 Est @ 2.23% 317.88
2027 542.14 Est @ 2.38% 302.57
2028 555.62 Est @ 2.49% 288.30
2029 569.85 Est @ 2.56% 274.89
Present value of next 10 years cash flows $3,511.52
NYSE:KIM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $569.85 × (1 + 2.73%) ÷ (7.56% – 2.73%)
$12,114.19
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $12,114.19 ÷ (1 + 7.56%)10
$5,843.72
NYSE:KIM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,511.52 + $5,843.72
$9,355.25
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $9,355.25 / 422.97
$22.12
NYSE:KIM Discount to Share Price
Calculation Result
Value per share (USD) From above. $22.12
Current discount Discount to share price of $17.89
= -1 x ($17.89 - $22.12) / $22.12
19.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Kimco Realty is available for.
Intrinsic value
19%
Share price is $17.89 vs Future cash flow value of $22.12
Current Discount Checks
For Kimco Realty to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Kimco Realty's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Kimco Realty's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Kimco Realty's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kimco Realty's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:KIM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.96
NYSE:KIM Share Price ** NYSE (2019-07-19) in USD $17.89
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.05x
United States of America Market PE Ratio Median Figure of 3,083 Publicly-Listed Companies 17.92x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Kimco Realty.

NYSE:KIM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:KIM Share Price ÷ EPS (both in USD)

= 17.89 ÷ 0.96

18.68x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kimco Realty is good value based on earnings compared to the US REITs industry average.
  • Kimco Realty is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Kimco Realty's expected growth come at a high price?
Raw Data
NYSE:KIM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.68x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
-3.2%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 1.77x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

NYSE:KIM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.68x ÷ -3.2%

-5.83x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kimco Realty earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Kimco Realty's assets?
Raw Data
NYSE:KIM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $12.61
NYSE:KIM Share Price * NYSE (2019-07-19) in USD $17.89
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.82x
United States of America Market PB Ratio Median Figure of 5,248 Publicly-Listed Companies 1.8x
NYSE:KIM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:KIM Share Price ÷ Book Value per Share (both in USD)

= 17.89 ÷ 12.61

1.42x

* Primary Listing of Kimco Realty.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kimco Realty is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Kimco Realty's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Kimco Realty has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

KIM Future Performance

 How is Kimco Realty expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-3.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kimco Realty expected to grow at an attractive rate?
  • Kimco Realty's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Kimco Realty's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Kimco Realty's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:KIM Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:KIM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts -3.2%
NYSE:KIM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 2.4%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 6%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:KIM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:KIM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 319
2022-12-31 310
2021-12-31 1,209 308 4
2020-12-31 1,164 667 302 9
2019-12-31 1,142 664 330 10
NYSE:KIM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,156 601 402
2018-12-31 1,165 638 430
2018-09-30 1,196 637 433
2018-06-30 1,208 666 453
2018-03-31 1,211 649 435
2017-12-31 1,201 614 370
2017-09-30 1,183 641 364
2017-06-30 1,173 676 207
2017-03-31 1,167 612 267
2016-12-31 1,171 592 331
2016-09-30 1,175 476 622
2016-06-30 1,179 424 740

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kimco Realty's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Kimco Realty's revenue is expected to grow by 2.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:KIM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Kimco Realty Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:KIM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 0.76 0.76 0.76 1.00
2022-12-31 0.74 0.74 0.74 1.00
2021-12-31 0.73 0.73 0.73 1.00
2020-12-31 0.73 0.79 0.70 5.00
2019-12-31 0.77 0.80 0.73 5.00
NYSE:KIM Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.96
2018-12-31 1.02
2018-09-30 1.03
2018-06-30 1.07
2018-03-31 1.03
2017-12-31 0.87
2017-09-30 0.86
2017-06-30 0.49
2017-03-31 0.63
2016-12-31 0.79
2016-09-30 1.50
2016-06-30 1.79

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Kimco Realty is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Kimco Realty's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Kimco Realty has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

KIM Past Performance

  How has Kimco Realty performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Kimco Realty's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Kimco Realty's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Kimco Realty's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Kimco Realty's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Kimco Realty's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Kimco Realty Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:KIM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,155.69 401.82 91.55
2018-12-31 1,164.76 429.71 90.25
2018-09-30 1,195.79 433.17 123.01
2018-06-30 1,207.55 453.24 121.31
2018-03-31 1,211.32 434.58 92.72
2017-12-31 1,200.83 370.33 91.82
2017-09-30 1,182.64 363.59 93.49
2017-06-30 1,172.87 207.27 100.34
2017-03-31 1,167.18 266.73 109.40
2016-12-31 1,170.79 330.61 90.66
2016-09-30 1,175.08 622.48 124.96
2016-06-30 1,178.83 740.14 125.11
2016-03-31 1,182.32 661.18 124.41
2015-12-31 1,166.77 827.16 124.01
2015-09-30 1,133.49 530.54 116.81
2015-06-30 1,100.32 555.58 117.11
2015-03-31 1,051.73 555.74 117.21
2014-12-31 997.03 312.97 120.78
2014-09-30 937.98 339.11 124.86
2014-06-30 904.71 286.10 128.25
2014-03-31 872.42 231.77 132.00
2013-12-31 865.83 225.16 129.30
2013-09-30 871.18 144.82 125.66
2013-06-30 873.74 123.48 123.50
2013-03-31 881.70 118.08 122.55
2012-12-31 800.88 73.48 122.57
2012-09-30 885.85 120.02 136.26

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Kimco Realty has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Kimco Realty used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • Kimco Realty has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Kimco Realty's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Kimco Realty has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

KIM Health

 How is Kimco Realty's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Kimco Realty's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kimco Realty is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kimco Realty's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Kimco Realty's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Kimco Realty Company Filings, last reported 3 months ago.

NYSE:KIM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 5,420.54 4,868.75 143.67
2018-12-31 5,434.74 4,873.87 143.58
2018-09-30 5,476.17 4,887.47 146.39
2018-06-30 5,505.13 5,068.72 305.58
2018-03-31 5,518.55 5,097.32 218.31
2017-12-31 5,538.29 5,478.93 238.51
2017-09-30 5,424.28 5,551.27 156.59
2017-06-30 5,521.66 5,390.18 143.10
2017-03-31 5,456.58 5,124.88 167.45
2016-12-31 5,489.83 5,066.37 142.49
2016-09-30 5,518.82 5,001.90 170.55
2016-06-30 5,531.46 5,191.00 337.82
2016-03-31 5,404.06 5,164.49 222.00
2015-12-31 5,268.66 5,376.31 189.53
2015-09-30 5,182.40 5,500.47 180.91
2015-06-30 5,226.98 5,539.12 145.83
2015-03-31 5,298.46 5,721.25 220.98
2014-12-31 4,993.25 4,595.97 187.32
2014-09-30 4,927.11 4,697.32 154.19
2014-06-30 4,840.08 4,730.37 192.18
2014-03-31 4,833.65 4,380.35 268.91
2013-12-31 4,855.68 4,221.40 148.77
2013-09-30 4,926.06 4,380.65 401.73
2013-06-30 4,951.77 4,464.77 156.45
2013-03-31 5,042.11 4,451.07 166.89
2012-12-31 5,013.56 4,195.32 141.88
2012-09-30 5,338.24 4,218.19 429.53
  • Kimco Realty's level of debt (89.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (90.7% vs 89.8% today).
  • Debt is not well covered by operating cash flow (12.3%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.5x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Kimco Realty's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Kimco Realty has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

KIM Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.26%
Current annual income from Kimco Realty dividends. Estimated to be 6.34% next year.
If you bought $2,000 of Kimco Realty shares you are expected to receive $125 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Kimco Realty's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • Kimco Realty's dividend is above the markets top 25% of dividend payers in United States of America (3.74%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:KIM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 185 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:KIM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.12 1.00
2022-12-31 1.12 1.00
2021-12-31 1.15 6.00
2020-12-31 1.13 14.00
2019-12-31 1.13 14.00
NYSE:KIM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-02 1.120 6.135
2019-02-15 1.120 6.294
2019-01-31 1.120 6.387
2018-10-26 1.120 7.055
2018-10-25 1.120 7.132
2018-07-27 1.120 6.836
2018-07-26 1.120 6.855
2018-01-31 1.120 7.410
2017-10-25 1.120 6.241
2017-09-19 1.080 5.606
2017-05-08 1.080 5.659
2017-02-02 1.080 4.773
2016-10-28 1.080 4.230
2016-10-27 1.080 4.096
2016-07-29 1.020 3.475
2016-07-27 1.020 3.220
2016-04-29 1.020 3.445
2016-04-27 1.020 3.589
2015-11-05 1.020 3.796
2015-11-04 1.020 3.789
2015-08-03 0.960 3.890
2015-07-28 0.960 3.898
2015-02-05 0.960 3.845
2014-10-28 0.960 3.714
2014-07-31 0.900 3.950
2014-07-29 0.900 3.938
2014-02-07 0.900 3.997
2013-10-29 0.900 4.355
2013-07-30 0.840 4.052
2013-05-01 0.840 3.715
2013-02-06 0.840 3.773
2012-10-31 0.840 4.292
2012-08-15 0.760 3.734
2012-05-02 0.760 4.027
2012-02-08 0.760 4.037
2011-11-02 0.760 4.566
2011-07-26 0.720 4.401
2011-05-04 0.720 3.831
2011-02-09 0.720 3.943
2010-11-02 0.720 4.121
2010-07-27 0.640 4.043
2010-05-05 0.640 4.455
2010-02-03 0.640 4.322
2009-11-04 0.640 4.943
2009-07-30 0.240 1.938
2009-04-30 0.240 2.334
2009-02-05 1.760 19.136
2008-11-05 1.760 10.847
2008-07-29 1.760 5.708

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Kimco Realty's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (581.4x coverage).
X
Income/ dividend checks
We assess Kimco Realty's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Kimco Realty afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kimco Realty has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

KIM Management

 What is the CEO of Kimco Realty's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Conor Flynn
COMPENSATION $5,743,899
AGE 38
TENURE AS CEO 3.5 years
CEO Bio

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 as an Asset Manager in 2003 and has held a variety of senior leadership roles over the past eleven years, including President of Western Region until May 20, 2013. Previously, he served as the Chief Operating Officer since May 20, 2013, Chief Investment Officer since May 2014 and Executive Vice President from May 20, 2013 to August 5, 2014 at the firm. Mr. Flynn was responsible for overseeing the company's shopping center business including the supervision of all regional personnel who handle leasing, property management, construction, asset management and value creation activities as well as guiding new investment decisions for the organization. He has been a Director of Kimco Realty Corporation since January 1, 2016. He is a licensed real estate broker in California. Mr. Flynn received a Masters Degree in Real Estate Development from Columbia University and a BS Degree from Yale University.

CEO Compensation
  • Conor's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Conor's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Kimco Realty management team in years:

3.5
Average Tenure
43
Average Age
  • The tenure for the Kimco Realty management team is about average.
Management Team

Milton Cooper

TITLE
Co-Founder & Executive Chairman
COMPENSATION
$3M
AGE
90

Conor Flynn

TITLE
CEO & Director
COMPENSATION
$6M
AGE
38
TENURE
3.5 yrs

Ross Cooper

TITLE
President & Chief Investment Officer
COMPENSATION
$2M
AGE
36
TENURE
2.4 yrs

Glenn Cohen

TITLE
Executive VP
COMPENSATION
$3M
AGE
55
TENURE
9.1 yrs

David Jamieson

TITLE
Executive VP & COO
COMPENSATION
$2M
AGE
38
TENURE
2.4 yrs

Paul Westbrook

TITLE
VP & Chief Accounting Officer
TENURE
7.4 yrs

Kenneth Fisher

TITLE
VP & CTO

Thomas Taddeo

TITLE
Senior VP & Chief Information Officer

David Bujnicki

TITLE
Senior Vice President of Investor Relations & Strategy
AGE
48

Bruce Rubenstein

TITLE
Executive VP
TENURE
3.4 yrs
Board of Directors Tenure

Average tenure and age of the Kimco Realty board of directors in years:

9.7
Average Tenure
68
Average Age
  • The tenure for the Kimco Realty board of directors is about average.
Board of Directors

Conor Flynn

TITLE
CEO & Director
COMPENSATION
$6M
AGE
38
TENURE
3.5 yrs

Frank Lourenso

TITLE
Non-Management Director
COMPENSATION
$271K
AGE
78
TENURE
27.6 yrs

Milton Cooper

TITLE
Co-Founder & Executive Chairman
COMPENSATION
$3M
AGE
90
TENURE
27.7 yrs

Philip Coviello

TITLE
Independent Director
COMPENSATION
$296K
AGE
76
TENURE
11.2 yrs

Mary Preusse

TITLE
Non-Management Director
COMPENSATION
$271K
AGE
50
TENURE
2.4 yrs

Richard Saltzman

TITLE
Non-Management Director
COMPENSATION
$251K
AGE
62
TENURE
16 yrs

Colombe Nicholas

TITLE
Independent Director
COMPENSATION
$251K
AGE
74
TENURE
8.2 yrs

Valerie Richardson

TITLE
Non-Management Director
COMPENSATION
$223K
AGE
60
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
26. Mar 19 Sell David Jamieson Individual 26. Mar 19 26. Mar 19 -16,435 $18.33 $-301,291
22. Mar 19 Sell Frank Lourenso Individual 22. Mar 19 22. Mar 19 -3,713 $18.27 $-67,846
20. Dec 18 Buy Philip Coviello Individual 20. Dec 18 20. Dec 18 5,000 $14.91 $74,544
03. Aug 18 Buy Philip Coviello Individual 01. Aug 18 01. Aug 18 5,500 $16.46 $90,530
X
Management checks
We assess Kimco Realty's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Kimco Realty has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

KIM News

Simply Wall St News

Read This Before Considering Kimco Realty Corporation (NYSE:KIM) For Its Upcoming US$0.28 Dividend

Kimco Realty's next dividend payment will be US$0.28 per share. … Businesses with strong growth prospects usually make the best dividend payers, because it's easier to grow dividends when earnings per share are improving. … However, we'd also note that Kimco Realty is paying out more than half of its earnings and cash flow as profits, which could limit the dividend growth if earnings growth slows.

Simply Wall St -

We Think Kimco Realty (NYSE:KIM) In Taking Some Risk With Its Debt

NYSE:KIM Historical Debt, June 19th 2019 How Strong Is Kimco Realty's Balance Sheet? … Since Kimco Realty does have net debt, we think it is worthwhile for shareholders to keep an eye on the balance sheet, over time. … Our View Kimco Realty's net debt to EBITDA and interest cover definitely weigh on it, in our esteem.

Simply Wall St -

Should You Worry About Kimco Realty Corporation's (NYSE:KIM) CEO Pay?

Check out our latest analysis for Kimco Realty How Does Conor Flynn's Compensation Compare With Similar Sized Companies? … At the time of writing our data says that Kimco Realty Corporation has a market cap of US$7.4b, and is paying total annual CEO compensation of US$5.7m. … Since shareholders would have lost about 28% over three years, some Kimco Realty Corporation shareholders would surely be feeling negative emotions.

Simply Wall St -

Boasting A 8.7% Return On Equity, Is Kimco Realty Corporation (NYSE:KIM) A Top Quality Stock?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Kimco Realty: 8.7% = US$402m ÷ US$5.4b (Based on the trailing twelve months to March 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Combining Kimco Realty's Debt And Its 8.7% Return On Equity Kimco Realty has a debt to equity ratio of 0.92, which is far from excessive. … A company that can achieve a high return on equity without debt could be considered a high quality business.

Simply Wall St -

Introducing Kimco Realty (NYSE:KIM), The Stock That Dropped 40% In The Last Three Years

We regret to report that long term Kimco Realty Corporation (NYSE:KIM) shareholders have had that experience, with the share price dropping 40% in three years, versus a market return of about 48%. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … In comparison the 16% compound annual share price decline isn't as bad as the EPS drop-off.

Simply Wall St -

Why You Shouldn't Look At Kimco Realty Corporation's (NYSE:KIM) Bottom Line

real estate investment trust (REIT) based in New Hyde Park, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company. … They have to meet certain requirements in order to become a REIT, meaning they should be analyzed a different way.

Simply Wall St -

How Much Did Kimco Realty Corporation's (NYSE:KIM) CEO Pocket Last Year?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Conor Flynn's Compensation Compare With Similar Sized Companies. … According to our data, Kimco Realty Corporation has a market capitalization of US$7.4b, and pays its CEO total annual compensation worth US$5.6m.

Simply Wall St -

Is Kimco Realty Corporation (NYSE:KIM) A High Quality Stock To Own?

This article is for those who would like to learn about Return On Equity (ROE). … That means that for every $1 worth of shareholders' equity, it generated $0.092 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should You Consider Kimco Realty Corporation (NYSE:KIM)?

Kimco Realty Corporation (NYSE:KIM) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … In the case of KIM, it

Simply Wall St -

How Much Are Kimco Realty Corporation (NYSE:KIM) Insiders Spending On Buying Shares?

So we'll take a look at whether insiders have been buying or selling shares in Kimco Realty Corporation (NYSE:KIM). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Kimco Realty Insider Transactions Over The Last Year.

Simply Wall St -

KIM Company Info

Description

Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 60 years.

Details
Name: Kimco Realty Corporation
KIM
Exchange: NYSE
Founded: 1966
$7,710,698,910
$7,550,303,453
422,967,576
Website: http://www.kimcorealty.com
Address: Kimco Realty Corporation
3333 New Hyde Park Road,
Suite 100,
New Hyde Park,
New York, 11042,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE KIM Common Stock New York Stock Exchange US USD 22. Nov 1991
DB KIC Common Stock Deutsche Boerse AG DE EUR 22. Nov 1991
LSE 0JR1 Common Stock London Stock Exchange GB USD 22. Nov 1991
NYSE KIM.PRI DEP 1/1000 PFD I New York Stock Exchange US USD 12. Mar 2012
NYSE KIM.PRJ DEP 1/1000 PFD J New York Stock Exchange US USD 18. Jul 2012
NYSE KIM.PRK DEP1/1000PFD K% New York Stock Exchange US USD 29. Nov 2012
NYSE KIM.PRL 5.125% DEP PFD L New York Stock Exchange US USD 08. Aug 2017
NYSE KIM.PRM 5.25% DEP SHS M New York Stock Exchange US USD 12. Dec 2017
Number of employees
Current staff
Staff numbers
533
Kimco Realty employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/19 23:39
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/19
Last earnings filing: 2019/05/03
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.