Inside Kimco Realty Corp’s Upcoming Third Quarter Earnings Release

S&P 500 (NYSE:SPY) component Kimco Realty Corp (NYSE:KIM) will unveil its latest earnings on Wednesday, November 2, 2011. Kimco Realty is a real estate investment trust (REIT) that owns and operates neighborhood and community shopping centers. The company is primarily engaged in acquisitions, development, and management of its properties. .

Kimco Realty Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 30 cents per share, a rise of 7.1% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. Analysts are projecting profit to rise by 4.4% versus last year to $1.18.

Past Earnings Performance: Last quarter, the company saw net income of 30 cents per share versus a mean estimate of profit of 30 cents per share. This comes after two consecutive quarters of exceeding expectations.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 4.6% in revenue from the year-earlier quarter to $220.3 million.

Analyst Ratings: Analysts are bullish on Kimco Realty as 10 analysts rate it as a buy, none rate it as a sell and 10 rate it as a hold.

A Look Back: In the second quarter, profit rose 57.3% to $38.7 million (6 cents a share) from $24.6 million (3 cents a share) the year earlier, meeting analyst expectations. Revenue was unchanged at $230.8 million.

Key Stats:

The increase in profit in the second quarter broke a streak of three consecutive quarters of year-over-year profit decreases. Net income dropped 43% in the first quarter, 28.9% in the fourth quarter of the last fiscal year and 24.4% in the third quarter of the last fiscal year.

Revenue has fallen in the past two quarters. In the first quarter, the figure fell 4.7%.

Competitors to Watch: Equity One, Inc. (NYSE:EQY), Glimcher Realty Trust (NYSE:GRT), Inland Real Estate Corp. (NYSE:IRC), Urstadt Biddle Properties Inc. (NYSE:UBA), Cedar Shopping Centers Inc (NYSE:CDR), Agree Realty Corporation (NYSE:ADC), The Macerich Company (NYSE:MAC), Ramco-Gershenson Properties Trust (NYSE:RPT), Realty Income Corp (NYSE:O), and Tanger Factory Outlet Centers Inc. (NYSE:SKT).

Stock Price Performance: During September 29, 2011 to October 27, 2011, the stock price had risen $2.20 (14.2%) from $15.47 to $17.67. It saw one of its worst periods between July 22, 2011 and August 8, 2011 when shares fell for 12-straight days, falling 27.9% (-$5.60) over that span. The stock price saw one of its best stretches over the last year between April 18, 2011 and May 2, 2011 when shares rose for 10-straight days, rising 8.9% (+$1.58) over that span. Shares are up 19 cents (+1.1%) year to date.

(Source: Xignite Financials)

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