Kimco Realty (NYSE:KIM) PT Raised to $24.00

Kimco Realty (NYSE:KIM) had its target price increased by JPMorgan Chase & Co. from $22.00 to $24.00 in a report issued on Friday, Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

A number of other equities analysts also recently commented on KIM. Mizuho cut their price objective on shares of Kimco Realty from $21.00 to $20.00 and set a buy rating for the company in a research report on Thursday, May 23rd. Piper Sandler reiterated an overweight rating and issued a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a report on Friday. Truist Financial dropped their target price on shares of Kimco Realty from $23.00 to $22.00 and set a hold rating for the company in a report on Monday, May 20th. Robert W. Baird dropped their target price on shares of Kimco Realty from $23.00 to $21.00 and set an outperform rating for the company in a report on Thursday, April 4th. Finally, Bank of America reiterated a neutral rating and set a $20.00 price target (down from $24.00) on shares of Kimco Realty in a report on Friday, April 5th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kimco Realty presently has a consensus rating of Hold and an average price target of $21.98.

Kimco Realty Stock Performance

NYSE:KIM traded down $0.79 during trading hours on Friday, reaching $21.14. 3,580,730 shares of the company’s stock were exchanged, compared to its average volume of 4,870,454. The firm has a market capitalization of $14.25 billion, a price-to-earnings ratio of 41.38, a P/E/G ratio of 4.23 and a beta of 1.51. The company has a quick ratio of 1.86, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. Kimco Realty has a 1-year low of $16.34 and a 1-year high of $22.83. The company has a 50-day moving average of $19.76 and a 200 day moving average of $19.43.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The firm had revenue of $500.20 million for the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. Research analysts anticipate that Kimco Realty will post 1.6 EPS for the current year.

Kimco Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend is Thursday, September 5th. Kimco Realty’s payout ratio is 181.14%.

Insider Buying and Selling at Kimco Realty

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $21.92, for a total value of $1,096,000.00. Following the completion of the sale, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Kimco Realty

A number of hedge funds have recently bought and sold shares of the company. Nicholas Hoffman & Company LLC. lifted its stake in Kimco Realty by 5.9% during the second quarter. Nicholas Hoffman & Company LLC. now owns 17,981 shares of the real estate investment trust’s stock valued at $350,000 after buying an additional 1,000 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Kimco Realty by 3.8% in the second quarter. TD Asset Management Inc now owns 229,317 shares of the real estate investment trust’s stock worth $4,463,000 after purchasing an additional 8,294 shares in the last quarter. Naviter Wealth LLC lifted its position in shares of Kimco Realty by 2.5% in the second quarter. Naviter Wealth LLC now owns 43,619 shares of the real estate investment trust’s stock worth $849,000 after purchasing an additional 1,084 shares in the last quarter. Wolverine Asset Management LLC lifted its position in shares of Kimco Realty by 40.6% in the second quarter. Wolverine Asset Management LLC now owns 29,460 shares of the real estate investment trust’s stock worth $573,000 after purchasing an additional 8,511 shares in the last quarter. Finally, Generate Investment Management Ltd lifted its position in shares of Kimco Realty by 13.2% in the second quarter. Generate Investment Management Ltd now owns 305,820 shares of the real estate investment trust’s stock worth $5,951,000 after purchasing an additional 35,578 shares in the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

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.