Wells Fargo & Company Lowers Kimco Realty (NYSE:KIM) Price Target to $23.00

Kimco Realty (NYSE:KIM) had its price objective reduced by investment analysts at Wells Fargo & Company from $24.00 to $23.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 8.54% from the stock’s previous close.

A number of other brokerages also recently issued reports on KIM. JPMorgan Chase & Co. lowered their price target on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Scotiabank lowered their target price on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Citigroup cut their price target on Kimco Realty from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Mizuho reduced their price target on Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. 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 report on Tuesday, December 24th. Ten equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.43.

Kimco Realty Stock Performance

NYSE KIM opened at $21.19 on Wednesday. The firm has a market capitalization of $14.40 billion, a P/E ratio of 37.84, a PEG ratio of 2.78 and a beta of 1.53. The stock has a 50-day simple moving average of $21.83 and a two-hundred day simple moving average of $23.17. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65. Kimco Realty has a fifty-two week low of $17.57 and a fifty-two week high of $25.83.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. On average, equities analysts forecast that Kimco Realty will post 1.71 earnings per share for the current year.

Institutional Trading of Kimco Realty

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp grew its holdings in shares of Kimco Realty by 2.0% during the 3rd quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock worth $1,048,797,000 after purchasing an additional 882,047 shares during the period. FMR LLC increased its position in shares of Kimco Realty by 7.9% during the fourth quarter. FMR LLC now owns 24,095,602 shares of the real estate investment trust’s stock valued at $564,560,000 after acquiring an additional 1,755,684 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Kimco Realty by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 17,592,283 shares of the real estate investment trust’s stock valued at $411,179,000 after acquiring an additional 377,074 shares during the period. Invesco Ltd. lifted its holdings in shares of Kimco Realty by 18.3% in the 4th quarter. Invesco Ltd. now owns 17,383,750 shares of the real estate investment trust’s stock worth $407,301,000 after acquiring an additional 2,692,258 shares during the last quarter. Finally, Resolution Capital Ltd raised its position in Kimco Realty by 13.7% in the fourth quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust’s stock valued at $388,442,000 after purchasing an additional 1,992,550 shares during the period. Institutional investors and hedge funds 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.