Kimco Realty Corp (NYSE:KIM) Receives $24.14 Consensus Target Price from Brokerages

Shares of Kimco Realty Corp (NYSE:KIM) have been assigned an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the stock, Marketbeat reports. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $24.14.

A number of brokerages have commented on KIM. UBS Group increased their price target on shares of Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Piper Sandler reiterated an “overweight” rating and issued a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Mizuho lowered Kimco Realty from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $20.00 to $23.00 in a research report on Monday, August 19th. Raymond James raised Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research note on Friday, August 16th. Finally, Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th.

Kimco Realty Stock Performance

Shares of KIM opened at $24.89 on Thursday. 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 50-day moving average price of $23.77 and a 200-day moving average price of $21.53. The company has a market cap of $16.78 billion, a PE ratio of 45.25, a price-to-earnings-growth ratio of 3.28 and a beta of 1.50. Kimco Realty has a 12-month low of $17.57 and a 12-month high of $25.19.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The company had revenue of $507.63 million during the quarter, compared to analysts’ expectations of $502.78 million. During the same period in the prior year, the firm earned $0.40 EPS. Kimco Realty’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities analysts forecast that Kimco Realty will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.25 dividend. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.02%. Kimco Realty’s dividend payout ratio (DPR) is presently 181.82%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in shares of Kimco Realty by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 17,215,209 shares of the real estate investment trust’s stock worth $398,468,000 after purchasing an additional 53,378 shares in the last quarter. Barclays PLC increased its holdings in Kimco Realty by 14.3% in the 3rd quarter. Barclays PLC now owns 1,848,159 shares of the real estate investment trust’s stock worth $42,915,000 after acquiring an additional 231,606 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Kimco Realty by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,201,338 shares of the real estate investment trust’s stock worth $27,895,000 after acquiring an additional 5,280 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Kimco Realty by 3.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,042,671 shares of the real estate investment trust’s stock valued at $24,211,000 after purchasing an additional 32,222 shares in the last quarter. Finally, MML Investors Services LLC boosted its position in shares of Kimco Realty by 12.3% in the third quarter. MML Investors Services LLC now owns 17,632 shares of the real estate investment trust’s stock worth $409,000 after purchasing an additional 1,931 shares during the period. 89.25% of the stock is currently owned by institutional investors.

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.