Kimco Realty (NYSE:KIM) Hits New 1-Year High – What’s Next?

Kimco Realty Corp (NYSE:KIM)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $25.70 and last traded at $25.64, with a volume of 433478 shares traded. The stock had previously closed at $25.46.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Scotiabank increased their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Monday. Compass Point boosted their target price on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Truist Financial increased their price target on Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Robert W. Baird boosted their price objective on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.33.

Kimco Realty Stock Performance

The company’s 50 day simple moving average is $24.00 and its 200 day simple moving average is $21.88. 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 cap of $17.36 billion, a PE ratio of 46.29, a price-to-earnings-growth ratio of 3.34 and a beta of 1.50.

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

Kimco Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 3.88%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio (DPR) is presently 174.55%.

Hedge Funds Weigh In On Kimco Realty

Several institutional investors have recently bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new position in shares of Kimco Realty during the 3rd quarter valued at $25,000. Wilmington Savings Fund Society FSB purchased a new stake in Kimco Realty during the third quarter valued at about $31,000. Brooklyn Investment Group bought a new position in Kimco Realty during the third quarter worth about $37,000. Blue Trust Inc. boosted its position in Kimco Realty by 613.5% during 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. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Kimco Realty by 52.6% in the first 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 in the last quarter. Hedge funds and other 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.