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

Kimco Realty (NYSE:KIM) had its price objective upped by Scotiabank from $23.00 to $26.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

A number of other brokerages have also commented on KIM. Wells Fargo & Company increased their price target on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Truist Financial increased their price target 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. Compass Point increased their price target on shares of Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. UBS Group increased their price target on shares of Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Kimco Realty presently has an average rating of “Moderate Buy” and a consensus target price of $24.33.

Kimco Realty Stock Performance

NYSE KIM opened at $25.78 on Monday. Kimco Realty has a 1 year low of $17.57 and a 1 year high of $25.80. 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 stock has a market capitalization of $17.38 billion, a PE ratio of 46.87, a P/E/G ratio of 3.34 and a beta of 1.50. The company’s 50 day simple moving average is $24.10 and its two-hundred day simple moving average is $21.94.

Kimco Realty (NYSE:KIM) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (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 firm had revenue of $507.63 million during the quarter, compared to analysts’ expectations of $502.78 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Analysts predict that Kimco Realty will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.00 annualized dividend and a yield of 3.88%. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio is presently 174.55%.

Institutional Investors Weigh In On Kimco Realty

Institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position 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 buying an additional 103,861 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Kimco Realty by 30.9% in 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 purchasing an additional 1,381,490 shares during the period. Invst LLC purchased a new stake in shares of Kimco Realty in the 1st quarter worth about $682,000. Victory Capital Management Inc. lifted its position 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 worth $19,422,000 after purchasing an additional 274,295 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Kimco Realty by 71.5% in 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 period. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Company Profile

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.