Analysts Set Kimco Realty Corp (NYSE:KIM) Price Target at $24.50

Kimco Realty Corp (NYSE:KIM) has earned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Ten 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. The average twelve-month price target among analysts that have covered the stock in the last year is $24.50.

A number of research firms recently issued reports on KIM. Scotiabank dropped their target price on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and dropped their price objective for the company from $28.00 to $25.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. reduced their target price on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company cut their price target on Kimco Realty from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, Evercore ISI reduced their price objective on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th.

Kimco Realty Stock Performance

Shares of Kimco Realty stock opened at $21.19 on Wednesday. The company has a market cap of $14.40 billion, a P/E ratio of 37.84, a PEG ratio of 2.78 and a beta of 1.53. The company has a current ratio of 3.65, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average price of $21.83 and a two-hundred day moving average price of $23.17. Kimco Realty has a 1-year low of $17.57 and a 1-year high of $25.83.

Kimco Realty (NYSE:KIM) last issued its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. As a group, analysts anticipate that Kimco Realty will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.72%. Kimco Realty’s dividend payout ratio is currently 178.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KIM. Asset Management One Co. Ltd. lifted its position in shares of Kimco Realty by 1.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,235,249 shares of the real estate investment trust’s stock worth $28,868,000 after buying an additional 12,705 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in Kimco Realty in the third quarter worth $17,636,000. B&I Capital AG grew its stake in Kimco Realty by 13.9% in the 4th quarter. B&I Capital AG now owns 509,830 shares of the real estate investment trust’s stock valued at $11,945,000 after purchasing an additional 62,100 shares during the period. Nordea Investment Management AB grew its stake in Kimco Realty by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 56,244 shares of the real estate investment trust’s stock valued at $1,319,000 after purchasing an additional 3,614 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Kimco Realty during the 4th quarter valued at $1,045,000. 89.25% of the stock is currently 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.