Evercore ISI Increases Kimco Realty (NYSE:KIM) Price Target to $23.00

Kimco Realty (NYSE:KIM) had its price objective increased by investment analysts at Evercore ISI from $22.00 to $23.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price suggests a potential downside of 2.46% from the stock’s previous close.

KIM has been the topic of a number of other reports. Argus raised shares of Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Robert W. Baird lifted their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. 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 research note on Friday, August 16th. Mizuho cut Kimco Realty from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $20.00 to $23.00 in a research report on Monday, August 19th. Finally, Scotiabank increased their price objective on Kimco Realty from $21.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.55.

Kimco Realty Price Performance

Shares of NYSE:KIM opened at $23.58 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 1.73. Kimco Realty has a 12 month low of $16.34 and a 12 month high of $24.25. The firm has a market capitalization of $15.90 billion, a P/E ratio of 44.49, a P/E/G ratio of 4.01 and a beta of 1.51. The company’s fifty day moving average price is $22.22 and its 200 day moving average price is $20.07.

Kimco Realty (NYSE:KIM) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.23). The firm had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. As a group, sell-side analysts predict that Kimco Realty will post 1.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the transaction, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at $7,389,473.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in Kimco Realty during the first quarter worth about $200,043,000. Vanguard Group Inc. increased its stake in shares of Kimco Realty by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after purchasing an additional 7,931,013 shares in the last quarter. Norges Bank acquired a new position in shares of Kimco Realty during the 4th quarter worth approximately $150,326,000. Centersquare Investment Management LLC lifted its stake in Kimco Realty by 76.8% in the 1st quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock valued at $269,531,000 after buying an additional 6,282,891 shares in the last quarter. Finally, Cohen & Steers Inc. grew its holdings in Kimco Realty by 7.3% during the 4th quarter. Cohen & Steers Inc. now owns 44,190,222 shares of the real estate investment trust’s stock valued at $941,817,000 after buying an additional 3,022,995 shares during the last quarter. Institutional investors and hedge funds 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.