Wells Fargo & Company Cuts Kimco Realty (NYSE:KIM) Price Target to $24.00

Kimco Realty (NYSE:KIM) had its target price lowered by Wells Fargo & Company from $26.00 to $24.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group cut 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. Evercore ISI cut their price objective on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. Scotiabank raised their price objective on Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a research report on Monday, November 25th. Mizuho raised their price objective on Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, UBS Group raised their price objective on Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Eleven analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.84.

Kimco Realty Stock Performance

Shares of NYSE KIM opened at $22.47 on Wednesday. The stock has a 50 day moving average price of $23.71 and a 200 day moving average price of $23.30. Kimco Realty has a 52 week low of $17.57 and a 52 week high of $25.83. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. The stock has a market capitalization of $15.15 billion, a PE ratio of 40.86, a price-to-earnings-growth ratio of 2.87 and a beta of 1.51.

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

Hedge Funds Weigh In On Kimco Realty

A number of hedge funds have recently added to or reduced their stakes in KIM. Catalyst Capital Advisors LLC bought a new position in Kimco Realty during the 3rd quarter worth $25,000. Wilmington Savings Fund Society FSB bought a new position in Kimco Realty during the 3rd quarter worth $31,000. Brooklyn Investment Group bought a new position in Kimco Realty during the 3rd quarter worth $37,000. Quarry LP bought a new position in Kimco Realty during the 3rd quarter worth $51,000. Finally, Castleview Partners LLC acquired a new stake in shares of Kimco Realty in the 3rd quarter valued at $77,000. 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.