Kimco Realty (NYSE:KIM) Hits New 12-Month High – Time to Buy?

Kimco Realty Corp (NYSE:KIM)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $25.70 and last traded at $25.64, with a volume of 433478 shares. The stock had previously closed at $25.46.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KIM shares. JPMorgan Chase & Co. raised their price objective on Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Truist Financial boosted their price target on Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Wells Fargo & Company upped their price objective on Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Piper Sandler reiterated an “overweight” rating and set a $29.00 target price (up from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Finally, Robert W. Baird upped their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Kimco Realty has an average rating of “Moderate Buy” and an average price target of $24.33.

Kimco Realty Price Performance

The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a market capitalization of $17.38 billion, a price-to-earnings ratio of 46.87, a PEG ratio of 3.34 and a beta of 1.50. The business’s fifty day simple moving average is $24.10 and its 200 day simple moving average is $21.94.

Kimco Realty (NYSE:KIM) last issued its earnings results 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). 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 business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, research analysts forecast that Kimco Realty Corp will post 1.64 EPS for the current year.

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.00 annualized dividend and a yield of 3.88%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio (DPR) is presently 174.55%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Catalyst Capital Advisors LLC acquired a new position in shares of Kimco Realty during the third quarter valued at about $25,000. Wilmington Savings Fund Society FSB acquired a new position in Kimco Realty during the 3rd quarter valued at about $31,000. Brooklyn Investment Group bought a new stake in Kimco Realty during the 3rd quarter worth approximately $37,000. Blue Trust Inc. raised its stake in shares of 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 purchasing an additional 1,816 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Kimco Realty by 52.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 773 shares in the last quarter. 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.