Kimco Realty (NYSE:KIM) Receives “Buy” Rating from Robert W. Baird

Robert W. Baird restated their buy rating on shares of Kimco Realty (NYSE:KIM) in a report published on Friday, November 10th. The firm currently has a $23.00 target price on the real estate investment trust’s stock.

Several other research analysts have also recently issued reports on the stock. Boenning Scattergood reiterated a hold rating on shares of Kimco Realty in a report on Friday, October 27th. BMO Capital Markets set a $21.00 target price on shares of Kimco Realty and gave the stock a hold rating in a report on Wednesday, October 25th. Mizuho reiterated a hold rating and set a $19.00 target price on shares of Kimco Realty in a report on Monday, October 9th. J P Morgan Chase & Co upgraded shares of Kimco Realty from a neutral rating to an overweight rating and set a $24.00 target price on the stock in a report on Tuesday, September 26th. Finally, Argus lowered shares of Kimco Realty from a buy rating to a hold rating in a research report on Monday, August 28th. They noted that the move was a valuation call. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Kimco Realty has a consensus rating of Hold and a consensus price target of $23.37.

Shares of Kimco Realty (KIM) traded up $0.17 during trading on Friday, reaching $18.47. 4,021,200 shares of the company’s stock traded hands, compared to its average volume of 4,412,497. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16. Kimco Realty has a one year low of $17.02 and a one year high of $26.63. The company has a market cap of $7,860.00, a PE ratio of 12.45, a price-to-earnings-growth ratio of 2.18 and a beta of 0.66.

Kimco Realty (NYSE:KIM) last issued its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.13). Kimco Realty had a return on equity of 7.73% and a net margin of 35.51%. The business had revenue of $290.92 million for the quarter, compared to the consensus estimate of $295.34 million. During the same quarter in the previous year, the company earned $0.38 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. research analysts predict that Kimco Realty will post 1.55 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 6.06%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, December 29th. Kimco Realty’s dividend payout ratio is presently 158.82%.

Several hedge funds have recently added to or reduced their stakes in KIM. Penserra Capital Management LLC purchased a new position in shares of Kimco Realty in the 3rd quarter valued at approximately $105,000. Carnegie Capital Asset Management LLC purchased a new position in shares of Kimco Realty in the 2nd quarter valued at approximately $204,000. Pacer Advisors Inc. raised its position in shares of Kimco Realty by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock valued at $188,000 after purchasing an additional 790 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in shares of Kimco Realty in the 3rd quarter valued at approximately $201,000. Finally, Stoneridge Investment Partners LLC purchased a new position in shares of Kimco Realty in the 3rd quarter valued at approximately $203,000. 92.19% of the stock is owned by institutional investors and hedge funds.

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Kimco Realty 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 (NYSE:KIM)

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