Brokerages Set Kimco Realty Corp (NYSE:KIM) PT at $24.50

Kimco Realty Corp (NYSE:KIM) has earned a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $24.70.

A number of brokerages have recently weighed in on KIM. Robert W. Baird boosted their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Compass Point raised their target price on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Argus upgraded Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Wells Fargo & Company boosted their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Finally, Raymond James raised shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price target for the company in a report on Friday, August 16th.

Kimco Realty Price Performance

NYSE KIM opened at $24.61 on Monday. The company has a 50 day moving average price of $24.47 and a two-hundred day moving average price of $22.35. Kimco Realty has a 12-month low of $17.57 and a 12-month high of $25.83. The stock has a market capitalization of $16.59 billion, a PE ratio of 44.75, a price-to-earnings-growth ratio of 3.20 and a beta of 1.50. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM) last released its quarterly 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 company had revenue of $507.63 million for the quarter, compared to the consensus estimate of $502.78 million. During the same quarter last year, the company posted $0.40 EPS. The business’s revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts predict that Kimco Realty will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, December 5th. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.06%. Kimco Realty’s dividend payout ratio is 181.82%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Kimco Realty by 842.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,262,687 shares of the real estate investment trust’s stock worth $145,420,000 after purchasing an additional 5,598,091 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Kimco Realty by 43.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,943,646 shares of the real estate investment trust’s stock worth $154,583,000 after buying an additional 2,400,752 shares in the last quarter. FMR LLC boosted its position in Kimco Realty by 6.1% in the 3rd quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock valued at $518,733,000 after buying an additional 1,283,352 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Kimco Realty by 11.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock valued at $221,740,000 after buying an additional 1,193,600 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Kimco Realty by 71.5% during the second quarter. Sei Investments Co. now owns 2,792,649 shares of the real estate investment trust’s stock valued at $54,345,000 after acquiring an additional 1,164,029 shares during the period. Institutional investors and hedge funds 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.