Kimco Realty (NYSE:KIM) Downgraded to Neutral at Mizuho

Mizuho lowered shares of Kimco Realty (NYSE:KIM) from an outperform rating to a neutral rating in a research note issued to investors on Monday morning, MarketBeat reports. They currently have $23.00 price target on the real estate investment trust’s stock, up from their previous price target of $20.00.

Several other equities analysts have also issued reports on KIM. Robert W. Baird boosted their price target on shares of Kimco Realty from $21.00 to $23.00 and gave the company an outperform rating in a report on Thursday, August 8th. Raymond James raised shares of Kimco Realty from a market perform rating to a strong-buy rating and set a $25.00 price target for the company in a report on Friday. Truist Financial decreased their price target on shares of Kimco Realty from $23.00 to $22.00 and set a hold rating for the company in a report on Monday, May 20th. JPMorgan Chase & Co. upped their target price 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. Finally, Piper Sandler reaffirmed an overweight rating and issued a $29.00 target price (up from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $22.73.

Kimco Realty Stock Performance

Shares of Kimco Realty stock opened at $22.30 on Monday. The firm has a fifty day moving average of $20.41 and a two-hundred day moving average of $19.55. The stock has a market capitalization of $15.03 billion, a price-to-earnings ratio of 42.08, a PEG ratio of 4.23 and a beta of 1.51. Kimco Realty has a 52 week low of $16.34 and a 52 week high of $22.83. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.73.

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). Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The firm had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. During the same period last year, the firm earned $0.39 EPS. Kimco Realty’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, equities research analysts predict that Kimco Realty will post 1.6 EPS for the current year.

Kimco Realty Dividend Announcement

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

Insider Transactions at Kimco Realty

In other news, COO David Jamieson sold 50,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $21.92, for a total value of $1,096,000.00. Following the sale, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Kimco Realty

A number of institutional investors and hedge funds have recently modified their holdings of the company. Kimelman & Baird LLC bought a new stake in shares of Kimco Realty in the 2nd quarter valued at about $1,423,000. Susquehanna Fundamental Investments LLC bought a new position in Kimco Realty in the 2nd quarter valued at about $3,194,000. Mackenzie Financial Corp raised its holdings in Kimco Realty by 2.3% in the 2nd quarter. Mackenzie Financial Corp now owns 67,604 shares of the real estate investment trust’s stock valued at $1,316,000 after acquiring an additional 1,528 shares during the period. Millennium Management LLC raised its holdings in Kimco Realty by 146.6% in the 2nd quarter. Millennium Management LLC now owns 1,477,297 shares of the real estate investment trust’s stock valued at $28,748,000 after acquiring an additional 878,217 shares during the period. Finally, MBB Public Markets I LLC bought a new position in Kimco Realty in the 2nd quarter valued at about $880,000. 89.25% of the stock is owned by 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.