Wells Fargo & Company Issues Pessimistic Forecast for Kimco Realty (NYSE:KIM) Stock Price

Kimco Realty (NYSE:KIM) had its price objective reduced by research analysts at Wells Fargo & Company from $26.00 to $23.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price points to a potential downside of 2.65% from the company’s current price.

Other research analysts have also issued reports about the stock. UBS Group reduced their price objective on shares of Kimco Realty from $29.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Weiss Ratings cut shares of Kimco Realty from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Barclays dropped their target price on Kimco Realty from $28.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, September 28th. The Goldman Sachs Group set a $24.00 price target on Kimco Realty in a report on Wednesday, October 7th. Finally, Mizuho reduced their price target on Kimco Realty from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Kimco Realty has a consensus rating of “Moderate Buy” and a consensus target price of $25.71.

Kimco Realty Stock Performance

NYSE KIM traded up $0.04 during trading on Friday, hitting $23.62. 603,961 shares of the company’s stock traded hands, compared to its average volume of 5,155,451. The stock has a market capitalization of $15.85 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 2.64 and a beta of 0.94. Kimco Realty has a 12-month low of $19.76 and a 12-month high of $26.65. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.23 and a current ratio of 5.23. The business has a 50 day moving average of $23.09 and a 200-day moving average of $24.00.

Kimco Realty (NYSE:KIM) last posted its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.26. Kimco Realty had a net margin of 27.76% and a return on equity of 5.76%. The firm had revenue of $550.80 million during the quarter, compared to the consensus estimate of $543.75 million. During the same quarter last year, the company earned $0.44 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Kimco Realty has set its FY 2026 guidance at 1.830-1.840 EPS. As a group, equities research analysts anticipate that Kimco Realty will post 1.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Kimco Realty in the second quarter worth $1,895,765,000. Bank of America Corp DE bought a new stake in Kimco Realty during the second quarter valued at $235,111,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Kimco Realty by 7,715.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,304,565 shares of the real estate investment trust’s stock worth $159,821,000 after buying an additional 6,223,902 shares in the last quarter. Legal & General Group Plc purchased a new position in Kimco Realty during the second quarter worth about $156,283,000. Finally, Bank of New York Mellon Corp purchased a new position in Kimco Realty during the second quarter worth about $152,113,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

About Kimco Realty

Kimco Realty Corporation is a real estate investment trust that owns, operates and develops open-air, grocery-anchored shopping centers and mixed-use properties in the United States. Its properties are designed to serve everyday consumer needs and typically include grocery stores, restaurants, service businesses, retailers and other essential tenants.

The company’s portfolio is concentrated in major metropolitan areas and high-density communities, with a focus on locations that offer convenient access, strong surrounding demographics and complementary tenant mixes.