Kimco Realty (NYSE:KIM) Hits New 1-Year High – What’s Next?

Shares of Kimco Realty Corp (NYSE:KIM) reached a new 52-week high on Thursday . The stock traded as high as $25.20 and last traded at $25.16, with a volume of 67099 shares. The stock had previously closed at $25.09.

Wall Street Analyst Weigh In

Several analysts have issued reports on KIM shares. JPMorgan Chase & Co. lifted their price target on Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Wells Fargo & Company boosted their price objective on Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. The Goldman Sachs Group boosted their price objective on Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Robert W. Baird boosted their price target on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $20.00 to $23.00 in a research report on Monday, August 19th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Kimco Realty has a consensus rating of “Moderate Buy” and a consensus target price of $24.14.

Kimco Realty Price Performance

The stock has a 50 day simple moving average of $23.91 and a 200-day simple moving average of $21.71. The firm has a market cap of $17.10 billion, a PE ratio of 46.13, a price-to-earnings-growth ratio of 3.28 and a beta of 1.50. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78.

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

Kimco Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.25 per share. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. This represents a $1.00 dividend on an annualized basis and a yield of 3.94%. Kimco Realty’s payout ratio is 174.55%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC bought a new stake in Kimco Realty during the 3rd quarter valued at $25,000. Brooklyn Investment Group bought a new stake in shares of Kimco Realty in the third quarter valued at about $37,000. Blue Trust Inc. lifted its stake in Kimco Realty by 613.5% in the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,816 shares during the period. EverSource Wealth Advisors LLC grew its holdings in 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 worth $42,000 after acquiring an additional 773 shares in the last quarter. Finally, Quarry LP purchased a new position in Kimco Realty during the 3rd quarter valued at about $51,000. Hedge funds and other institutional investors 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.