Kimco Realty (NYSE:KIM) Stock Rating Upgraded by Argus

Argus upgraded shares of Kimco Realty (NYSE:KIM) to a strong-buy rating in a research note published on Friday morning, Zacks.com reports.

Other research analysts have also issued reports about the company. Piper Sandler restated an overweight rating and issued a $29.00 price target (up from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Wells Fargo & Company raised their price target on Kimco Realty from $21.00 to $24.00 and gave the stock an equal weight rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. raised their price target on Kimco Realty from $22.00 to $24.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. Robert W. Baird raised their price target on Kimco Realty from $21.00 to $23.00 and gave the stock an outperform rating in a research report on Thursday, August 8th. Finally, Evercore ISI raised their price objective on Kimco Realty from $21.00 to $22.00 and gave the stock an in-line rating in a research note on Wednesday, August 28th. Nine equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $23.21.

Kimco Realty Stock Up 1.4 %

Shares of KIM opened at $23.31 on Friday. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 43.97, a PEG ratio of 3.92 and a beta of 1.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73. The business’s fifty day moving average price is $21.61 and its two-hundred day moving average price is $19.87. Kimco Realty has a 52 week low of $16.34 and a 52 week high of $23.53.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $500.87 million. During the same quarter in the previous year, the business posted $0.39 earnings per share. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. On average, analysts predict that Kimco Realty will post 1.62 earnings per share for the current year.

Kimco Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Thursday, September 5th. Kimco Realty’s dividend payout ratio is 181.14%.

Insider Buying and Selling at Kimco Realty

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction dated 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 sale, the chief operating officer now owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Kimco Realty

Hedge funds have recently modified their holdings of the stock. Principal Securities Inc. bought a new position in shares of Kimco Realty in the 4th quarter valued at about $29,000. Blue Trust Inc. grew its holdings in shares of Kimco Realty by 613.5% in the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 1,816 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Kimco Realty by 52.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 773 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Kimco Realty by 112.6% in the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 1,787 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in shares of Kimco Realty in the 1st quarter valued at about $70,000. Institutional investors own 89.25% of the company’s stock.

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.