Kimco Realty Corp (NYSE:KIM) Given Average Recommendation of “Hold” by Brokerages

Shares of Kimco Realty Corp (NYSE:KIM) have earned an average rating of “Hold” from the seventeen brokerages that are presently covering the firm, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $24.84.

A number of brokerages have issued reports on KIM. Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and decreased their target price for the stock from $28.00 to $25.00 in a research report on Thursday, January 2nd. Scotiabank upped their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a report on Monday, November 25th. Robert W. Baird upped their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Mizuho upped their price target on shares of Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. downgraded shares of Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 price target for the company. in a report on Friday, December 20th.

Hedge Funds Weigh In On Kimco Realty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its position in Kimco Realty by 2.0% in the 3rd quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock valued at $1,048,797,000 after acquiring an additional 882,047 shares during the period. FMR LLC increased its position in Kimco Realty by 6.1% in the 3rd quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock valued at $518,733,000 after acquiring an additional 1,283,352 shares during the period. Geode Capital Management LLC increased its position in 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 valued at $398,468,000 after acquiring an additional 53,378 shares during the period. Charles Schwab Investment Management Inc. increased its position in Kimco Realty by 4.5% in the 3rd 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 acquiring an additional 405,685 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Kimco Realty by 842.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,262,687 shares of the real estate investment trust’s stock valued at $145,420,000 after acquiring an additional 5,598,091 shares during the period. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Stock Performance

Shares of NYSE:KIM opened at $23.42 on Tuesday. The company’s 50 day moving average price is $23.79 and its two-hundred day moving average price is $23.26. Kimco Realty has a 12-month low of $17.57 and a 12-month high of $25.83. The firm has a market cap of $15.79 billion, a PE ratio of 42.58, a PEG ratio of 2.87 and a beta of 1.51. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM) last announced its 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 return on equity of 3.68% and a net margin of 19.58%. The business had revenue of $507.63 million for the quarter, compared to analyst estimates of $502.78 million. During the same quarter in the previous year, the company earned $0.40 EPS. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. Equities research analysts predict 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. Shareholders of record on Thursday, December 5th were given a $0.25 dividend. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.27%. The ex-dividend date was Thursday, December 5th. Kimco Realty’s dividend payout ratio is 181.82%.

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.