Scotiabank Lowers Kimco Realty (NYSE:KIM) Price Target to $24.00

Kimco Realty (NYSE:KIM) had its price target decreased by stock analysts at Scotiabank from $26.00 to $24.00 in a report issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would suggest a potential upside of 8.67% from the company’s previous close.

A number of other equities research analysts have also commented on the company. Robert W. Baird upped their price target on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Wells Fargo & Company reduced their price target on Kimco Realty from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price objective on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. UBS Group boosted their price objective on Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Evercore ISI dropped their price objective on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. Ten research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.43.

Kimco Realty Price Performance

Shares of KIM traded up $0.48 during midday trading on Friday, hitting $22.09. The company’s stock had a trading volume of 6,266,165 shares, compared to its average volume of 4,397,563. Kimco Realty has a one year low of $17.57 and a one year high of $25.83. The company’s fifty day simple moving average is $22.45 and its two-hundred day simple moving average is $23.37. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of 39.44, a price-to-earnings-growth ratio of 2.78 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. As a group, equities analysts expect that Kimco Realty will post 1.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kimco Realty

A number of large investors have recently added to or reduced their stakes in KIM. Catalyst Capital Advisors LLC purchased a new stake in Kimco Realty during the third quarter valued at about $25,000. Summit Securities Group LLC purchased a new stake in Kimco Realty during the fourth quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Kimco Realty during the third quarter valued at about $31,000. Brown Brothers Harriman & Co. raised its position in Kimco Realty by 78.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 575 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Kimco Realty during the third quarter valued at about $37,000. Hedge funds and other institutional investors 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.