Evercore ISI Cuts Kimco Realty (NYSE:KIM) Price Target to $23.00

Kimco Realty (NYSE:KIM) had its price target reduced by equities researchers at Evercore ISI from $24.00 to $23.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective would suggest a potential downside of 1.84% from the company’s previous close.

Other analysts also recently issued reports about the company. Mizuho raised their price target on Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Truist Financial raised their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Robert W. Baird upped their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Compass Point raised 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. Finally, JPMorgan Chase & Co. cut Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.83.

Kimco Realty Stock Performance

Kimco Realty stock opened at $23.43 on Tuesday. The company’s 50-day moving average price is $24.57 and its 200-day moving average price is $22.64. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. The company has a market cap of $15.79 billion, a PE ratio of 42.60, a price-to-earnings-growth ratio of 3.20 and a beta of 1.50. Kimco Realty has a twelve month low of $17.57 and a twelve month high of $25.83.

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

Institutional Investors Weigh In On Kimco Realty

Several large investors have recently modified their holdings of KIM. Lord Abbett & CO. LLC bought a new position in shares of Kimco Realty during the third quarter valued at approximately $17,636,000. Point72 DIFC Ltd bought a new stake in Kimco Realty during the 3rd quarter valued at $2,387,000. Victory Capital Management Inc. increased its holdings in shares of Kimco Realty by 48.8% in the 3rd quarter. Victory Capital Management Inc. now owns 836,427 shares of the real estate investment trust’s stock valued at $19,422,000 after acquiring an additional 274,295 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Kimco Realty by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,480,254 shares of the real estate investment trust’s stock worth $220,131,000 after acquiring an additional 405,685 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Kimco Realty by 71.5% during the 2nd quarter. Sei Investments Co. now owns 2,792,649 shares of the real estate investment trust’s stock worth $54,345,000 after purchasing an additional 1,164,029 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

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.