Scotiabank Has Lowered Expectations for Kimco Realty (NYSE:KIM) Stock Price

Kimco Realty (NYSE:KIM) had its price objective decreased by equities research analysts at Scotiabank from $26.00 to $24.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would suggest a potential upside of 8.67% from the company’s current price.

KIM has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their price target on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and reduced their price objective for the company from $28.00 to $25.00 in a research note on Thursday, January 2nd. Mizuho reduced their price objective on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Robert W. Baird lifted their price objective 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, Wells Fargo & Company reduced their price objective on shares of Kimco Realty from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Ten equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Kimco Realty has a consensus rating of “Moderate Buy” and a consensus price target of $24.43.

Kimco Realty Stock Up 2.2 %

Shares of NYSE:KIM opened at $22.09 on Friday. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. The business has a fifty day simple moving average of $22.42 and a 200 day simple moving average of $23.38. 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 $15.01 billion, a P/E ratio of 39.44, a P/E/G ratio of 2.78 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last issued its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Analysts predict that Kimco Realty will post 1.71 earnings per share for the current year.

Hedge Funds Weigh In On Kimco Realty

A number of large investors have recently added to or reduced their stakes in KIM. Creative Planning raised its position in Kimco Realty by 3.5% during the third quarter. Creative Planning now owns 51,130 shares of the real estate investment trust’s stock worth $1,187,000 after acquiring an additional 1,740 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Kimco Realty in the third quarter valued at about $276,000. Farther Finance Advisors LLC raised its position in shares of Kimco Realty by 20.8% in the third quarter. Farther Finance Advisors LLC now owns 8,283 shares of the real estate investment trust’s stock valued at $192,000 after buying an additional 1,426 shares during the last quarter. Realta Investment Advisors purchased a new stake in shares of Kimco Realty in the third quarter valued at about $407,000. Finally, Van ECK Associates Corp grew its holdings in shares of Kimco Realty by 10.7% in the third quarter. Van ECK Associates Corp now owns 298,909 shares of the real estate investment trust’s stock valued at $7,162,000 after purchasing an additional 29,002 shares during the period. 89.25% of the stock is currently owned by institutional investors and hedge funds.

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.