Brokerages Set Kimco Realty Corp (NYSE:KIM) PT at $24.14

Kimco Realty Corp (NYSE:KIM) has been assigned an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the stock, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $24.14.

Several research analysts recently commented on the company. The Goldman Sachs Group boosted their target price on Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Piper Sandler reaffirmed an “overweight” rating and set a $29.00 price objective (up from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. UBS Group upped their price objective on Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Mizuho cut Kimco Realty from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $20.00 to $23.00 in a research report on Monday, August 19th. Finally, Raymond James raised Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research report on Friday, August 16th.

Kimco Realty Trading Up 0.8 %

KIM opened at $25.10 on Thursday. Kimco Realty has a 12 month low of $17.57 and a 12 month high of $25.19. The stock has a market capitalization of $16.92 billion, a price-to-earnings ratio of 45.63, a PEG ratio of 3.29 and a beta of 1.50. 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 business has a fifty day moving average price of $23.77 and a 200 day moving average price of $21.57.

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

Kimco Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, December 5th. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.98%. Kimco Realty’s dividend payout ratio is currently 174.55%.

Institutional Trading of Kimco Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC raised its stake in Kimco Realty by 71.0% during the 1st quarter. ProShare Advisors LLC now owns 180,041 shares of the real estate investment trust’s stock valued at $3,531,000 after acquiring an additional 74,729 shares during the last quarter. Vanguard Group Inc. raised its stake in Kimco Realty by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock valued at $2,162,347,000 after acquiring an additional 7,931,013 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Kimco Realty by 2.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,761,309 shares of the real estate investment trust’s stock valued at $73,195,000 after acquiring an additional 103,861 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Kimco Realty by 11.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,107,569 shares of the real estate investment trust’s stock worth $21,720,000 after buying an additional 109,758 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Kimco Realty by 30.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,846,943 shares of the real estate investment trust’s stock worth $114,659,000 after buying an additional 1,381,490 shares in the last quarter. 89.25% of the stock is owned by hedge funds and other 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.