Kimco Realty (NYSE:KIM) Hits New 12-Month High Following Analyst Upgrade

Kimco Realty Corp (NYSE:KIM) shares reached a new 52-week high during trading on Tuesday after Robert W. Baird raised their price target on the stock from $23.00 to $26.00. Robert W. Baird currently has an outperform rating on the stock. Kimco Realty traded as high as $25.19 and last traded at $25.04, with a volume of 121206 shares trading hands. The stock had previously closed at $25.06.

Several other research analysts have also weighed in on the stock. Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. Mizuho cut Kimco Realty from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $20.00 to $23.00 in a research note on Monday, August 19th. Scotiabank boosted their target price on shares of Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. The Goldman Sachs Group lifted their price target on Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Evercore ISI increased their price objective on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.14.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Texas Permanent School Fund Corp lifted its holdings in shares of Kimco Realty by 10.2% during the first quarter. Texas Permanent School Fund Corp now owns 137,698 shares of the real estate investment trust’s stock valued at $2,700,000 after purchasing an additional 12,735 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Kimco Realty by 71.0% during the first quarter. ProShare Advisors LLC now owns 180,041 shares of the real estate investment trust’s stock worth $3,531,000 after buying an additional 74,729 shares during the period. Entropy Technologies LP purchased a new stake in shares of Kimco Realty during the first quarter valued at about $992,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Kimco Realty by 1.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 656,645 shares of the real estate investment trust’s stock valued at $12,824,000 after acquiring an additional 6,589 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Kimco Realty by 22.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,223,153 shares of the real estate investment trust’s stock valued at $23,986,000 after buying an additional 224,102 shares during the last quarter. 89.25% of the stock is owned by institutional investors.

Kimco Realty Trading Down 1.5 %

The company has a market cap of $16.64 billion, a price-to-earnings ratio of 45.56, a P/E/G ratio of 3.29 and a beta of 1.50. The company’s fifty day moving average is $23.64 and its two-hundred day moving average is $21.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 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 during the quarter, compared to analysts’ expectations of $502.78 million. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, research analysts anticipate that Kimco Realty Corp will post 1.64 EPS for the current year.

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.25 dividend. The ex-dividend date is Thursday, December 5th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.05%. Kimco Realty’s dividend payout ratio (DPR) is currently 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.