Kimco Realty (NYSE:KIM) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Kimco Realty (NYSE:KIM) from an overweight rating to a neutral rating in a report released on Friday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has $26.00 target price on the real estate investment trust’s stock.

Several other brokerages have also recently weighed in 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. Compass Point increased their price objective on shares of Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Wells Fargo & Company boosted their price target on Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Robert W. Baird boosted their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group increased their target price on Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a report on Thursday, September 12th. Ten analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.83.

Kimco Realty Stock Up 1.8 %

KIM opened at $23.42 on Friday. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. The stock has a market cap of $15.79 billion, a price-to-earnings ratio of 42.58, a PEG ratio of 3.20 and a beta of 1.50. Kimco Realty has a twelve month low of $17.57 and a twelve month high of $25.83. The company’s 50-day moving average price is $24.57 and its two-hundred day moving average price is $22.61.

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

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Thursday, December 5th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio is presently 181.82%.

Institutional Trading of Kimco Realty

Several hedge funds and other institutional investors have recently made changes to their positions in KIM. Catalyst Capital Advisors LLC acquired a new position in Kimco Realty in the 3rd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kimco Realty in the third quarter worth $31,000. Brooklyn Investment Group purchased a new position in shares of Kimco Realty during the third quarter worth $37,000. Blue Trust Inc. lifted its position in Kimco Realty by 613.5% during the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,816 shares during the period. Finally, Quarry LP purchased a new stake in Kimco Realty in the third quarter valued at $51,000. Hedge funds and other institutional investors 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.