Kimco Realty Corp (NYSE:KIM) Given Average Rating of “Moderate Buy” by Brokerages

Kimco Realty Corp (NYSE:KIM) has earned an average recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $24.50.

KIM has been the subject of several recent research reports. Scotiabank lifted their price target on Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Monday, November 25th. Truist Financial boosted their target price on Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Mizuho downgraded 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 upgraded shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a research report on Friday, August 16th. Finally, Compass Point increased their target price on shares of Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th.

Institutional Investors Weigh In On Kimco Realty

Large investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Kimco Realty by 2.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,761,309 shares of the real estate investment trust’s stock worth $73,195,000 after buying an additional 103,861 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Kimco Realty in the 3rd quarter worth $2,387,000. Victory Capital Management Inc. raised its position in shares of Kimco Realty by 48.8% in the 3rd quarter. Victory Capital Management Inc. now owns 836,427 shares of the real estate investment trust’s stock worth $19,422,000 after acquiring an additional 274,295 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Kimco Realty by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,480,254 shares of the real estate investment trust’s stock valued at $220,131,000 after purchasing an additional 405,685 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Kimco Realty by 71.5% during the second quarter. Sei Investments Co. now owns 2,792,649 shares of the real estate investment trust’s stock valued at $54,345,000 after purchasing an additional 1,164,029 shares in the last quarter. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Trading Up 0.4 %

Shares of KIM stock opened at $25.19 on Monday. The stock’s 50-day moving average price is $24.33 and its 200-day moving average price is $22.23. Kimco Realty has a 12-month low of $17.57 and a 12-month high of $25.83. The stock has a market capitalization of $16.98 billion, a price-to-earnings ratio of 45.80, a price-to-earnings-growth ratio of 3.31 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 results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business had revenue of $507.63 million for the quarter, compared to analysts’ expectations of $502.78 million. During the same period in the previous year, the company earned $0.40 EPS. Kimco Realty’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts predict that Kimco Realty will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 3.97%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio (DPR) is currently 174.55%.

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.