Kimco Realty (NYSE:KIM) Price Target Raised to $26.00

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

Several other equities research analysts also recently commented on KIM. Argus raised shares of Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Wells Fargo & Company boosted their target price 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. JPMorgan Chase & Co. boosted their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group boosted their target price on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Truist Financial boosted their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Kimco Realty has a consensus rating of “Moderate Buy” and an average target price of $24.33.

Kimco Realty Price Performance

KIM stock opened at $25.78 on Monday. The stock has a 50-day moving average price of $24.10 and a two-hundred day moving average price of $21.94. Kimco Realty has a 1 year low of $17.57 and a 1 year high of $25.80. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The stock has a market cap of $17.38 billion, a PE ratio of 46.87, a price-to-earnings-growth ratio of 3.34 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last issued its earnings results 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). The firm had revenue of $507.63 million during the quarter, compared to analyst estimates of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. Equities analysts forecast that Kimco Realty will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.88%. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. Kimco Realty’s payout ratio is presently 174.55%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC purchased a new stake in shares of Kimco Realty during the 3rd quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kimco Realty during the 3rd quarter valued at approximately $31,000. Brooklyn Investment Group purchased a new stake in shares of Kimco Realty during the 3rd quarter valued at approximately $37,000. Blue Trust Inc. lifted its stake in shares of Kimco Realty by 613.5% during the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,816 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Kimco Realty by 52.6% during 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 buying an additional 773 shares in the last quarter. 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.