Scotiabank Issues Positive Forecast for Kimco Realty (NYSE:KIM) Stock Price

Kimco Realty (NYSE:KIM) had its target price upped by Scotiabank from $23.00 to $26.00 in a report released on Monday,Benzinga reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the company. Robert W. Baird increased their price target on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Raymond James upgraded Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a report on Friday, August 16th. 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. Wells Fargo & Company raised their price objective on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Finally, 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 report on Friday, November 8th. Nine 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.33.

Kimco Realty Trading Up 0.6 %

Shares of KIM opened at $25.53 on Monday. Kimco Realty has a 52-week low of $17.57 and a 52-week high of $25.58. The stock has a market cap of $17.21 billion, a PE ratio of 46.40, a price-to-earnings-growth ratio of 3.32 and a beta of 1.50. The firm’s fifty day moving average is $23.93 and its two-hundred day moving average is $21.79. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (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 business had revenue of $507.63 million for the quarter, compared to analysts’ expectations of $502.78 million. During the same period in the prior year, the company posted $0.40 EPS. The firm’s revenue was up 13.8% on a year-over-year basis. 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 announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.25 per share. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. This represents a $1.00 annualized dividend and a yield of 3.92%. Kimco Realty’s dividend payout ratio is presently 181.82%.

Institutional Trading of Kimco Realty

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC grew its holdings in shares of Kimco Realty by 47.2% in the first quarter. Lazard Asset Management LLC now owns 30,398 shares of the real estate investment trust’s stock valued at $595,000 after purchasing an additional 9,748 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Kimco Realty by 30.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,846,943 shares of the real estate investment trust’s stock worth $114,659,000 after acquiring an additional 1,381,490 shares during the period. Kentucky Retirement Systems boosted its holdings in Kimco Realty by 2.0% in the first quarter. Kentucky Retirement Systems now owns 50,589 shares of the real estate investment trust’s stock valued at $992,000 after purchasing an additional 992 shares during the period. Public Employees Retirement Association of Colorado grew its stake in Kimco Realty by 9.2% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 73,170 shares of the real estate investment trust’s stock worth $1,435,000 after purchasing an additional 6,170 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Kimco Realty by 3,711.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,828,917 shares of the real estate investment trust’s stock worth $55,462,000 after purchasing an additional 2,754,695 shares during the period. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

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.