Kimco Realty (NYSE:KIM) Price Target Raised to $23.00 at Evercore ISI

Kimco Realty (NYSE:KIM) had its price target upped by Evercore ISI from $22.00 to $23.00 in a research note issued to investors on Monday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

KIM has been the topic of a number of other research reports. Raymond James raised Kimco Realty from a market perform rating to a strong-buy rating and set a $25.00 target price on the stock in a research report on Friday, August 16th. Mizuho downgraded Kimco Realty from an outperform rating to a neutral rating and upped their target price for the company from $20.00 to $23.00 in a research report on Monday, August 19th. Argus raised shares of Kimco Realty to a strong-buy rating in a report on Friday, September 6th. Wells Fargo & Company lifted their price objective on Kimco Realty from $21.00 to $24.00 and gave the company an equal weight rating in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $23.55.

Kimco Realty Price Performance

KIM opened at $23.24 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73. Kimco Realty has a 52 week low of $16.34 and a 52 week high of $24.25. The company has a fifty day moving average price of $22.35 and a two-hundred day moving average price of $20.11. The firm has a market capitalization of $15.67 billion, a PE ratio of 43.85, a P/E/G ratio of 4.01 and a beta of 1.51.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.23). The firm had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. Kimco Realty’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm earned $0.39 EPS. As a group, analysts anticipate that Kimco Realty will post 1.62 earnings per share for the current year.

Kimco Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.96 annualized dividend and a dividend yield of 4.13%. Kimco Realty’s payout ratio is 181.13%.

Insider Activity

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the firm’s stock in a transaction that occurred 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 owns 337,111 shares of the company’s stock, valued at $7,389,473.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Analyst IMS Investment Management Services Ltd. raised its stake in shares of Kimco Realty by 157.1% during the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 167,422 shares of the real estate investment trust’s stock worth $3,568,000 after purchasing an additional 102,300 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Kimco Realty by 71.0% in the first quarter. ProShare Advisors LLC now owns 180,041 shares of the real estate investment trust’s stock worth $3,531,000 after buying an additional 74,729 shares in the last quarter. Vanguard Group Inc. boosted its stake in Kimco Realty by 7.7% during the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock valued at $2,162,347,000 after buying an additional 7,931,013 shares during the period. Evoke Wealth LLC purchased a new position in shares of Kimco Realty during the fourth quarter worth about $4,181,000. Finally, Forsta AP Fonden increased its holdings in shares of Kimco Realty by 232.9% in the 1st quarter. Forsta AP Fonden now owns 435,800 shares of the real estate investment trust’s stock worth $8,546,000 after buying an additional 304,900 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

About Kimco Realty

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.