Kimco Realty (NYSE:KIM) Price Target Cut to $23.00 by Analysts at Wells Fargo & Company

Kimco Realty (NYSE:KIM) had its price target decreased by Wells Fargo & Company from $24.00 to $23.00 in a research report report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued research reports about the company. Mizuho cut their price objective on Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Evercore ISI lowered their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. JPMorgan Chase & Co. reduced their price target on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Jefferies Financial Group downgraded Kimco Realty from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $28.00 to $25.00 in a research report on Thursday, January 2nd. Finally, Citigroup dropped their price target on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Ten investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.43.

Kimco Realty Stock Performance

Shares of NYSE KIM opened at $21.20 on Wednesday. The business’s 50-day simple moving average is $21.81 and its 200-day simple moving average is $23.15. Kimco Realty has a 52 week low of $17.57 and a 52 week high of $25.83. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65. The firm has a market cap of $14.40 billion, a price-to-earnings ratio of 37.85, a P/E/G ratio of 2.78 and a beta of 1.53.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. As a group, equities research analysts expect that Kimco Realty will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.00 annualized dividend and a yield of 4.72%. Kimco Realty’s dividend payout ratio (DPR) is 178.57%.

Institutional Investors Weigh In On Kimco Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fairtree Asset Management Pty Ltd bought a new stake in shares of Kimco Realty during the fourth quarter valued at approximately $786,000. 111 Capital bought a new stake in shares of Kimco Realty during the fourth quarter worth $287,000. Lansforsakringar Fondforvaltning AB publ bought a new position in Kimco Realty in the fourth quarter valued at about $5,061,000. Phocas Financial Corp. acquired a new stake in Kimco Realty in the fourth quarter worth about $211,000. Finally, Siemens Fonds Invest GmbH acquired a new stake in Kimco Realty in the fourth quarter worth about $131,000. 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.