Kimco Realty Corporation (NYSE:KIM) Earns “Overweight” Rating from Barclays PLC

Barclays PLC restated their overweight rating on shares of Kimco Realty Corporation (NYSE:KIM) in a research note released on Monday, July 10th. Barclays PLC currently has a $23.00 price target on the real estate investment trust’s stock, up from their prior price target of $22.00.

KIM has been the topic of several other research reports. Robert W. Baird upgraded shares of Kimco Realty Corporation from a neutral rating to an outperform rating and reduced their target price for the company from $29.00 to $25.00 in a research note on Monday, March 13th. Zacks Investment Research downgraded shares of Kimco Realty Corporation from a hold rating to a sell rating in a research note on Thursday, April 27th. TheStreet downgraded shares of Kimco Realty Corporation from a b- rating to a c rating in a research note on Wednesday, April 26th. Canaccord Genuity restated a buy rating and issued a $34.00 target price on shares of Kimco Realty Corporation in a research note on Thursday, April 27th. Finally, BidaskClub upgraded shares of Kimco Realty Corporation from a strong sell rating to a sell rating in a research report on Wednesday, June 14th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Kimco Realty Corporation currently has a consensus rating of Buy and a consensus target price of $27.15.

Kimco Realty Corporation (NYSE:KIM) traded up 0.05% on Monday, hitting $20.47. 3,658,758 shares of the stock were exchanged. Kimco Realty Corporation has a 1-year low of $17.02 and a 1-year high of $31.34. The stock has a market cap of $8.71 billion, a PE ratio of 41.69 and a beta of 0.67. The company’s 50 day moving average is $18.92 and its 200 day moving average is $21.12.

Kimco Realty Corporation (NYSE:KIM) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.07. The business had revenue of $292.84 million during the quarter, compared to the consensus estimate of $290.95 million. Kimco Realty Corporation had a net margin of 21.77% and a return on equity of 4.68%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. On average, equities research analysts expect that Kimco Realty Corporation will post $0.68 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Wednesday, October 4th will be paid a $0.27 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.28%. Kimco Realty Corporation’s dividend payout ratio (DPR) is presently 220.41%.

In related news, Director Philip E. Coviello, Jr. purchased 20,000 shares of the stock in a transaction dated Monday, June 5th. The stock was bought at an average cost of $17.37 per share, with a total value of $347,400.00. Following the purchase, the director now directly owns 41,045 shares in the company, valued at approximately $712,951.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Kimco Realty Corporation by 2.0% in the first quarter. Vanguard Group Inc. now owns 72,545,930 shares of the real estate investment trust’s stock worth $1,602,539,000 after buying an additional 1,433,878 shares during the last quarter. BlackRock Inc. boosted its stake in Kimco Realty Corporation by 2,779.7% in the first quarter. BlackRock Inc. now owns 39,861,866 shares of the real estate investment trust’s stock worth $880,549,000 after buying an additional 38,477,627 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Kimco Realty Corporation by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 35,695,241 shares of the real estate investment trust’s stock worth $788,509,000 after buying an additional 2,483,036 shares during the last quarter. State Street Corp boosted its stake in Kimco Realty Corporation by 1.5% in the first quarter. State Street Corp now owns 25,704,197 shares of the real estate investment trust’s stock worth $567,811,000 after buying an additional 386,582 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Kimco Realty Corporation by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 18,014,750 shares of the real estate investment trust’s stock worth $330,570,000 after buying an additional 595,684 shares during the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

About Kimco Realty Corporation

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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