Kimco Realty (NYSE:KIM) Price Target Raised to $26.00 at Scotiabank

Kimco Realty (NYSE:KIM) had its price objective increased by investment analysts at Scotiabank from $23.00 to $26.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective points to a potential upside of 1.88% from the company’s current price.

A number of other research analysts have also recently weighed in on the company. Argus raised Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. UBS Group lifted their price target on shares of Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, November 8th. Compass Point increased their price objective on shares of Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Evercore ISI lifted their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.33.

Kimco Realty Stock Performance

Shares of KIM traded up $0.15 during trading hours on Monday, hitting $25.52. The stock had a trading volume of 711,588 shares, compared to its average volume of 4,544,604. Kimco Realty has a 12 month low of $17.57 and a 12 month high of $25.52. The stock has a fifty day moving average price of $23.93 and a 200 day moving average price of $21.79. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a market capitalization of $17.20 billion, a PE ratio of 46.40, a PEG ratio of 3.32 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). The firm had revenue of $507.63 million for the quarter, compared to the consensus estimate of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Analysts anticipate that Kimco Realty will post 1.64 EPS for the current year.

Institutional Investors Weigh In On Kimco Realty

Large investors have recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC purchased a new position in shares of Kimco Realty during the third quarter valued at $25,000. Brooklyn Investment Group bought a new position in shares of Kimco Realty during the 3rd quarter worth approximately $37,000. Blue Trust Inc. lifted its holdings in shares of Kimco Realty by 613.5% during the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,816 shares during the last quarter. Quarry LP purchased a new position in Kimco Realty during the 3rd quarter worth $51,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Kimco Realty by 52.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 773 shares during the last quarter. 89.25% of the stock is owned by institutional investors.

About Kimco Realty

Kimco Realty Corp. 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.