Kimco Realty (NYSE:KIM) Price Target Lowered to $23.00 at Wells Fargo & Company

Kimco Realty (NYSE:KIM) had its price target lowered by research analysts at Wells Fargo & Company from $24.00 to $23.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 8.54% from the stock’s current price.

A number of other equities analysts also recently issued reports on KIM. Evercore ISI lowered their price target on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. JPMorgan Chase & Co. lowered their target price on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Citigroup dropped their target price on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Mizuho reduced their price target on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Finally, Scotiabank dropped their price objective on Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Kimco Realty presently has a consensus rating of “Moderate Buy” and an average target price of $24.43.

Kimco Realty Stock Down 0.7 %

Shares of NYSE:KIM opened at $21.19 on Wednesday. Kimco Realty has a fifty-two week low of $17.57 and a fifty-two week high of $25.83. The firm’s 50 day moving average price is $21.83 and its 200 day moving average price is $23.17. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. The stock has a market cap of $14.40 billion, a price-to-earnings ratio of 37.84, a price-to-earnings-growth ratio of 2.78 and a beta of 1.53.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. As a group, equities research analysts predict that Kimco Realty will post 1.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Securities Group LLC acquired a new stake in shares of Kimco Realty during the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kimco Realty in the third quarter valued at about $31,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Kimco Realty by 78.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 575 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Kimco Realty during the third quarter worth about $37,000. Finally, Headlands Technologies LLC purchased a new position in Kimco Realty during the fourth quarter worth about $45,000. 89.25% of the stock is currently 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.