Kimco Realty (NYSE:KIM) Price Target Raised to $26.00

Kimco Realty (NYSE:KIM) had its price objective raised by Scotiabank from $23.00 to $26.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

KIM has been the subject of a number of other research reports. UBS Group boosted their target price on shares of Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Mizuho cut shares of Kimco Realty from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $20.00 to $23.00 in a research report on Monday, August 19th. Raymond James raised shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research report on Friday, August 16th. The Goldman Sachs Group upped their price objective on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Robert W. Baird upped their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.33.

Kimco Realty Price Performance

Shares of KIM opened at $25.78 on Monday. The company has a market cap of $17.38 billion, a price-to-earnings ratio of 46.87, a PEG ratio of 3.34 and a beta of 1.50. Kimco Realty has a 1-year low of $17.57 and a 1-year high of $25.80. The company’s fifty day simple moving average is $24.04 and its 200 day simple moving average is $21.91. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78.

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

Kimco Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 3.88%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio is currently 174.55%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp increased its position in Kimco Realty by 2.0% during the 3rd quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock valued at $1,048,797,000 after purchasing an additional 882,047 shares during the period. FMR LLC increased its position in Kimco Realty by 6.1% during the 3rd quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock valued at $518,733,000 after purchasing an additional 1,283,352 shares during the period. Geode Capital Management LLC increased its position in Kimco Realty by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 17,215,209 shares of the real estate investment trust’s stock valued at $398,468,000 after purchasing an additional 53,378 shares during the period. APG Asset Management US Inc. increased its position in Kimco Realty by 1.6% during the 2nd quarter. APG Asset Management US Inc. now owns 14,953,570 shares of the real estate investment trust’s stock valued at $288,155,000 after purchasing an additional 240,000 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in Kimco Realty by 11.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock valued at $221,740,000 after purchasing an additional 1,193,600 shares during the period. Institutional investors and hedge funds 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.