Kimco Realty’s (KIM) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Kimco Realty (NYSE:KIM) in a research report released on Friday morning, Benzinga reports. Piper Sandler currently has a $29.00 target price on the real estate investment trust’s stock, up from their previous target price of $26.00.

KIM has been the subject of a number of other research reports. Mizuho reduced their price objective on Kimco Realty from $21.00 to $20.00 and set a buy rating for the company in a research note on Thursday, May 23rd. Robert W. Baird reduced their price objective on Kimco Realty from $23.00 to $21.00 and set an outperform rating for the company in a research note on Thursday, April 4th. Bank of America reiterated a neutral rating and set a $20.00 price objective (down previously from $24.00) on shares of Kimco Realty in a research note on Friday, April 5th. Finally, Truist Financial dropped their target price on Kimco Realty from $23.00 to $22.00 and set a hold rating on the stock in a research report on Monday, May 20th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $21.98.

Kimco Realty Stock Performance

KIM stock traded down $0.58 during midday trading on Friday, reaching $21.35. The stock had a trading volume of 2,415,040 shares, compared to its average volume of 4,861,546. The stock has a market cap of $14.39 billion, a PE ratio of 41.38, a P/E/G ratio of 4.23 and a beta of 1.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.73. The firm has a fifty day simple moving average of $19.76 and a two-hundred day simple moving average of $19.43. Kimco Realty has a 52-week low of $16.34 and a 52-week high of $22.83.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The firm had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business earned $0.39 EPS. As a group, equities research analysts anticipate that Kimco Realty will post 1.6 EPS for the current year.

Kimco Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.50%. The ex-dividend date is Thursday, September 5th. Kimco Realty’s payout ratio is 181.14%.

Insider Transactions at Kimco Realty

In other news, COO David Jamieson sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the transaction, the chief operating officer now directly owns 337,111 shares in the company, valued at approximately $7,389,473.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.20% of the company’s stock.

Institutional Trading of Kimco Realty

A number of large investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board acquired a new position in shares of Kimco Realty during the first quarter worth $200,043,000. Vanguard Group Inc. grew its stake in shares of Kimco Realty by 7.7% during the first 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. Norges Bank acquired a new position in shares of Kimco Realty during the fourth quarter worth $150,326,000. Centersquare Investment Management LLC grew its stake in shares of Kimco Realty by 76.8% during the first quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock worth $269,531,000 after purchasing an additional 6,282,891 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Kimco Realty during the fourth quarter worth $84,678,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

About Kimco Realty

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.