Citigroup Issues Pessimistic Forecast for Kimco Realty (NYSE:KIM) Stock Price

Kimco Realty (NYSE:KIM) had its price objective lowered by Citigroup from $27.00 to $21.00 in a research report report published on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

Several other brokerages have also weighed in on KIM. JPMorgan Chase & Co. cut their price target on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Scotiabank decreased their target price on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Evercore ISI reduced their price target on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. Wells Fargo & Company reduced their target price on shares of Kimco Realty from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, Jefferies Financial Group lowered Kimco Realty from a “buy” rating to a “hold” rating and reduced their price target for the company from $28.00 to $25.00 in a research report on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Kimco Realty has an average rating of “Moderate Buy” and an average price target of $24.50.

Kimco Realty Price Performance

Shares of KIM opened at $20.95 on Monday. 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 company has a market cap of $14.23 billion, a price-to-earnings ratio of 37.40, a price-to-earnings-growth ratio of 2.78 and a beta of 1.53. The company has a 50 day moving average of $21.90 and a two-hundred day moving average of $23.23. Kimco Realty has a twelve month low of $17.57 and a twelve month high of $25.83.

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

Kimco Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.77%. Kimco Realty’s dividend payout ratio (DPR) is 178.57%.

Institutional Inflows and Outflows

Several 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 in the 4th quarter worth $26,000. Wilmington Savings Fund Society FSB acquired a new position in Kimco Realty during the third quarter worth about $31,000. Brown Brothers Harriman & Co. boosted its stake in shares of Kimco Realty by 78.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 575 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Kimco Realty in the 3rd quarter worth approximately $37,000. Finally, Headlands Technologies LLC purchased a new position in Kimco Realty in the 4th quarter valued at approximately $45,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

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.