Kimco Realty (NYSE:KIM) Lifted to Strong-Buy at Raymond James

Raymond James upgraded shares of Kimco Realty (NYSE:KIM) from a market perform rating to a strong-buy rating in a report released on Friday, Marketbeat.com reports. They currently have $25.00 price objective on the real estate investment trust’s stock.

KIM has been the subject of several other research reports. Piper Sandler reissued an overweight rating and issued a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Mizuho cut their price target on shares of Kimco Realty from $21.00 to $20.00 and set a buy rating for the company in a research note on Thursday, May 23rd. Robert W. Baird lifted their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the company an outperform rating in a research report on Thursday, August 8th. Truist Financial dropped their target price on shares of Kimco Realty from $23.00 to $22.00 and set a hold rating on the stock in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the company an overweight rating in a research note on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Kimco Realty currently has a consensus rating of Moderate Buy and a consensus target price of $22.73.

Kimco Realty Stock Up 0.0 %

Shares of KIM stock opened at $22.30 on Friday. The firm’s fifty day moving average price is $20.41 and its two-hundred day moving average price is $19.55. The company has a current ratio of 1.73, a quick ratio of 1.86 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 firm has a market capitalization of $15.03 billion, a P/E ratio of 42.08, a PEG ratio of 4.23 and a beta of 1.51.

Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The company had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. During the same period in the prior year, the firm posted $0.39 EPS. Kimco Realty’s revenue was up 13.0% compared to the same quarter last year. On average, equities analysts predict that Kimco Realty will post 1.6 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Thursday, September 5th. Kimco Realty’s dividend payout ratio is presently 181.13%.

Insider Transactions at Kimco Realty

In related news, COO David Jamieson sold 50,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was 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 in the company, valued at approximately $7,389,473.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Kimco Realty during the fourth quarter worth about $27,000. Headlands Technologies LLC bought a new position in shares of Kimco Realty during the fourth quarter worth approximately $27,000. Principal Securities Inc. bought a new position in shares of Kimco Realty during the fourth quarter worth approximately $29,000. Criterion Capital Advisors LLC acquired a new stake in shares of Kimco Realty in the fourth quarter valued at approximately $33,000. Finally, Blue Trust Inc. boosted its stake in shares of Kimco Realty by 613.5% in the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,816 shares during the period. Institutional investors own 89.25% of the company’s stock.

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.