Earnings Preview: What To Expect From Kimco Realty's Report

Jericho, New York-based Kimco Realty Corporation (KIM) is a real estate investment trust (REIT), specializing in open-air, grocery-anchored shopping centers and mixed-use properties. With a market cap of $16.2 billion, its portfolio is concentrated in top U.S. metropolitan markets and expanding Sun Belt cities. The company is expected to announce its fiscal Q3 earnings results before the market opens on Thursday, Oct. 31.

Ahead of this event, analysts expect the REIT to report a FFO of $0.41 per share, up 2.5% from $0.40 per share in the year-ago quarter. The company has surpassed or met Wall Street's bottom-line estimates in the last four quarterly reports. KIM reported FFO of $0.41 per share in the most recent quarter, exceeding the consensus estimate by a 2.5% margin.

For fiscal 2024, analysts expect KIM to report FFO of $1.62 per share, up 3.2% from $1.57 per share in fiscal 2023. Looking forward to fiscal 2025, FFO is expected to grow 4.3% year-over-year to $1.69 per share.

Over the past 52 weeks, KIM saw a surge of 41.4%, outperforming both the S&P 500 Index's ($SPX) 33.6% rise and the Real Estate Select Sector SPDR Fund's (XLRE) 28.9% gain over the same period.

Kimco Realty shares recovered over 1% on Aug. 1 after the company raised its full-year funds from operations (FFO) forecast to $1.60 per share - $1.62 per share, driven by robust leasing demand at its grocery-anchored shopping centers. The company's strong Q2 results, which included a rise in occupancy rates and better-than-expected revenue of $500.2 million, further boosted investor confidence. Additionally, the announcement of $63 million in future cash flow from signed leases yet to commence contributed to the positive market reaction.

Analysts' consensus rating on Kimco Realty stock is cautiously optimistic, with a "Moderate Buy" rating overall. Out of 23 analysts covering the stock, opinions include 10 "Strong Buys" and 13 "Holds." This configuration is slightly more bullish than three months ago, with nine analysts suggesting a "Strong Buy." As of writing, KIM is trading slightly above the average analyst price target of $24.20. 

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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.