Kimco Realty Corporation (KIM) Coverage Initiated at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of Kimco Realty Corporation (NYSE:KIM) in a research report sent to investors on Monday morning. The brokerage issued a market perform rating and a $21.00 price objective on the real estate investment trust’s stock.

KIM has been the subject of several other research reports. Citigroup Inc. upped their price target on shares of Kimco Realty Corporation from $19.50 to $21.00 and gave the stock a neutral rating in a research report on Monday, August 14th. BidaskClub upgraded shares of Kimco Realty Corporation from a sell rating to a hold rating in a research report on Tuesday, June 27th. Boenning Scattergood reiterated a hold rating on shares of Kimco Realty Corporation in a research report on Friday, July 28th. Zacks Investment Research lowered shares of Kimco Realty Corporation from a hold rating to a sell rating in a research report on Wednesday, July 5th. Finally, Barclays PLC decreased their target price on shares of Kimco Realty Corporation from $25.00 to $22.00 and set an overweight rating for the company in a research report on Monday, June 26th. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $26.03.

Shares of Kimco Realty Corporation (NYSE:KIM) opened at 20.49 on Monday. The stock has a 50 day moving average of $20.00 and a 200 day moving average of $20.15. Kimco Realty Corporation has a one year low of $17.02 and a one year high of $30.24. The stock has a market cap of $8.72 billion, a P/E ratio of 41.73 and a beta of 0.67.

Kimco Realty Corporation (NYSE:KIM) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.07). The firm had revenue of $292.84 million for the quarter, compared to the consensus estimate of $290.95 million. Kimco Realty Corporation had a return on equity of 4.68% and a net margin of 21.77%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 EPS. Equities analysts expect that Kimco Realty Corporation will post $0.70 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Wednesday, October 4th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.08 annualized dividend and a dividend yield of 5.27%. Kimco Realty Corporation’s dividend payout ratio (DPR) is 220.41%.

Several large investors have recently bought and sold shares of KIM. BlackRock Inc. boosted its position in shares of Kimco Realty Corporation by 2,779.7% during the 1st quarter. BlackRock Inc. now owns 39,861,866 shares of the real estate investment trust’s stock valued at $880,549,000 after purchasing an additional 38,477,627 shares in the last quarter. Hamlin Capital Management LLC bought a new position in shares of Kimco Realty Corporation during the 2nd quarter valued at about $57,217,000. JPMorgan Chase & Co. boosted its position in shares of Kimco Realty Corporation by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 35,695,241 shares of the real estate investment trust’s stock valued at $788,509,000 after purchasing an additional 2,483,036 shares in the last quarter. FMR LLC boosted its position in shares of Kimco Realty Corporation by 24.5% during the 2nd quarter. FMR LLC now owns 12,220,784 shares of the real estate investment trust’s stock valued at $224,251,000 after purchasing an additional 2,408,799 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Kimco Realty Corporation by 207.3% during the 1st quarter. Renaissance Technologies LLC now owns 2,456,829 shares of the real estate investment trust’s stock valued at $54,271,000 after purchasing an additional 1,657,434 shares in the last quarter. Institutional investors own 88.98% of the company’s stock.

Kimco Realty Corporation Company Profile

Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.

Analyst Recommendations for Kimco Realty Corporation (NYSE:KIM)

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