Kimco Realty (NYSE:KIM) Price Target Increased to $24.00 by Analysts at Wells Fargo & Company

Kimco Realty (NYSE:KIM) had its price target lifted by Wells Fargo & Company from $21.00 to $24.00 in a report published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

KIM has been the subject of a number of other research reports. Piper Sandler reiterated an overweight rating and issued a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Raymond James upgraded shares of Kimco Realty from a market perform rating to a strong-buy rating and set a $25.00 price objective for the company in a research note on Friday, August 16th. Robert W. Baird raised their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the stock an outperform rating in a report on Thursday, August 8th. Finally, Truist Financial lowered their target price on shares of Kimco Realty from $23.00 to $22.00 and set a hold rating on the stock in a research note on Monday, May 20th. Nine equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Kimco Realty currently has a consensus rating of Hold and a consensus price target of $23.21.

Kimco Realty Trading Up 1.1 %

Shares of Kimco Realty stock opened at $23.26 on Wednesday. Kimco Realty has a 1 year low of $16.34 and a 1 year high of $23.53. The company’s fifty day simple moving average is $21.19 and its 200-day simple moving average is $19.74. The company has a market cap of $15.68 billion, a price-to-earnings ratio of 43.89, a PEG ratio of 4.23 and a beta of 1.51. The company has a current ratio of 1.73, a quick ratio of 1.86 and a debt-to-equity ratio of 0.72.

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

Kimco Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a $0.24 dividend. The ex-dividend date is Thursday, September 5th. This represents a $0.96 annualized dividend and a yield of 4.13%. Kimco Realty’s payout ratio is 181.13%.

Insiders Place Their Bets

In related news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $21.92, for a total value of $1,096,000.00. Following the completion of the transaction, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at $7,389,473.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.20% of the company’s stock.

Institutional Trading of Kimco Realty

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC bought a new position in Kimco Realty in the 4th quarter valued at $27,000. Principal Securities Inc. acquired a new stake in Kimco Realty in the fourth quarter worth about $29,000. Blue Trust Inc. increased its position in Kimco Realty by 613.5% in the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,816 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Kimco Realty by 52.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 773 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in Kimco Realty by 112.6% during the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 1,787 shares during the period. Institutional investors and hedge funds 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.