Kimco Realty Corp (NYSE:KIM) Receives $23.55 Consensus Target Price from Brokerages

Kimco Realty Corp (NYSE:KIM) has received an average rating of “Moderate Buy” from the sixteen research firms that are currently covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $23.55.

KIM has been the topic of a number of analyst reports. Scotiabank lifted their price target on Kimco Realty from $21.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $20.00 to $23.00 in a research note on Monday, August 19th. Piper Sandler reissued an “overweight” rating and set a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Raymond James upgraded shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 target price for the company in a report on Friday, August 16th.

Kimco Realty Price Performance

KIM stock opened at $22.96 on Wednesday. The firm has a market cap of $15.48 billion, a P/E ratio of 43.32, a P/E/G ratio of 4.03 and a beta of 1.51. The firm’s fifty day moving average is $22.57 and its 200 day moving average is $20.25. Kimco Realty has a 52 week low of $16.34 and a 52 week high of $24.25. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (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 company had revenue of $500.20 million for the quarter, compared to the consensus estimate of $500.87 million. During the same period last year, the business posted $0.39 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Research analysts predict that Kimco Realty will post 1.62 earnings per share for the current year.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.96 annualized dividend and a dividend yield of 4.18%. Kimco Realty’s dividend payout ratio is presently 181.13%.

Insiders Place Their Bets

In related news, COO David Jamieson sold 50,000 shares of the 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 completion of the transaction, the chief operating officer now directly owns 337,111 shares in the company, valued at approximately $7,389,473.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kimco Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of KIM. Sanctuary Advisors LLC bought a new stake in Kimco Realty in the second quarter worth $274,000. Truist Financial Corp boosted its stake in Kimco Realty by 2.0% in the 2nd quarter. Truist Financial Corp now owns 37,223 shares of the real estate investment trust’s stock worth $724,000 after purchasing an additional 746 shares in the last quarter. Kimelman & Baird LLC bought a new position in Kimco Realty in the 2nd quarter worth about $1,423,000. Susquehanna Fundamental Investments LLC purchased a new stake in Kimco Realty during the 2nd quarter valued at about $3,194,000. Finally, Mackenzie Financial Corp increased its stake in Kimco Realty by 2.3% during 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 purchasing an additional 1,528 shares in the last quarter. Hedge funds and other 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.