Kimco Realty Corp (NYSE:KIM) Receives $24.14 Consensus Price Target from Analysts

Kimco Realty Corp (NYSE:KIM) has been assigned an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $24.14.

Several research firms have recently weighed in on KIM. 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. Robert W. Baird raised their price objective on Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Raymond James upgraded shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 target price for the company in a research note on Friday, August 16th. JPMorgan Chase & Co. raised their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Evercore ISI boosted their price objective on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Monday, September 16th.

Hedge Funds Weigh In On Kimco Realty

Hedge funds have recently modified their holdings of the company. ProShare Advisors LLC boosted its position in shares of Kimco Realty by 71.0% during the 1st quarter. ProShare Advisors LLC now owns 180,041 shares of the real estate investment trust’s stock valued at $3,531,000 after purchasing an additional 74,729 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Kimco Realty by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after purchasing an additional 7,931,013 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Kimco Realty by 2.8% during the second 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 purchasing an additional 103,861 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Kimco Realty by 11.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 1,107,569 shares of the real estate investment trust’s stock worth $21,720,000 after buying an additional 109,758 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Kimco Realty by 30.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,846,943 shares of the real estate investment trust’s stock valued at $114,659,000 after buying an additional 1,381,490 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Stock Up 0.2 %

Shares of NYSE KIM opened at $25.09 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. Kimco Realty has a 1 year low of $17.57 and a 1 year high of $25.19. The stock’s 50-day simple moving average is $23.84 and its 200-day simple moving average is $21.66. The firm has a market cap of $16.91 billion, a price-to-earnings ratio of 45.62, a PEG ratio of 3.28 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business had revenue of $507.63 million during the quarter, compared to analyst estimates of $502.78 million. During the same period in the previous year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities analysts anticipate that Kimco Realty will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Thursday, December 5th. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio is currently 181.82%.

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.