Kimco Realty (NYSE:KIM) Price Target Cut to $24.00 by Analysts at Wells Fargo & Company

Kimco Realty (NYSE:KIM) had its price target reduced by stock analysts at Wells Fargo & Company from $26.00 to $24.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 5.06% from the company’s current price.

Several other analysts also recently weighed in on KIM. JPMorgan Chase & Co. downgraded Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research note on Friday, December 20th. UBS Group upped their price objective on shares of Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Robert W. Baird raised their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Scotiabank upped their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Monday, November 25th. Finally, Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and lowered their price objective for the company from $28.00 to $25.00 in a research note on Thursday, January 2nd. Eleven equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Kimco Realty currently has an average rating of “Hold” and a consensus price target of $24.84.

Kimco Realty Stock Down 0.4 %

Shares of Kimco Realty stock traded down $0.09 on Wednesday, hitting $22.85. 355,168 shares of the company’s stock traded hands, compared to its average volume of 4,105,742. The stock has a market cap of $15.40 billion, a P/E ratio of 41.54, a PEG ratio of 2.87 and a beta of 1.51. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. Kimco Realty has a 52-week low of $17.57 and a 52-week high of $25.83. The firm’s 50-day moving average is $23.71 and its 200 day moving average is $23.30.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The business had revenue of $507.63 million during the quarter, compared to the consensus estimate of $502.78 million. During the same period in the prior year, the business earned $0.40 EPS. The business’s revenue was up 13.8% on a year-over-year basis. Equities analysts anticipate that Kimco Realty will post 1.64 earnings per share for the current year.

Institutional Trading of Kimco Realty

Hedge funds have recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new stake in shares of Kimco Realty during the third quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB purchased a new position in Kimco Realty during the 3rd quarter worth approximately $31,000. Brooklyn Investment Group purchased a new stake in shares of Kimco Realty in the third quarter valued at $37,000. Quarry LP purchased a new stake in Kimco Realty in the 3rd quarter worth about $51,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Kimco Realty during the 4th quarter worth about $77,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

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.