Kimco Realty (NYSE:KIM) PT Raised to $23.00 at Scotiabank

Kimco Realty (NYSE:KIM) had its target price lifted by investment analysts at Scotiabank from $21.00 to $23.00 in a report released on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would indicate a potential downside of 0.69% from the company’s current price.

Several other research firms have also issued reports on KIM. Mizuho lowered Kimco Realty from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $20.00 to $23.00 in a research note on Monday, August 19th. Piper Sandler restated an “overweight” rating and set a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price target on Kimco Realty from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Truist Financial cut their price objective on Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a report on Monday, May 20th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Kimco Realty currently has an average rating of “Moderate Buy” and a consensus price target of $22.75.

Kimco Realty Stock Down 1.0 %

Kimco Realty stock opened at $23.16 on Monday. The company has a quick ratio of 1.86, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $15.61 billion, a P/E ratio of 43.70, a P/E/G ratio of 4.23 and a beta of 1.51. The firm has a 50 day moving average price of $20.94 and a 200-day moving average price of $19.67. Kimco Realty has a twelve month low of $16.34 and a twelve month high of $23.53.

Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The firm had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $500.87 million. During the same period in the prior year, the business earned $0.39 earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities analysts predict that Kimco Realty will post 1.6 EPS for the current year.

Insider Transactions at Kimco Realty

In other news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the sale, the chief operating officer now owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Kimco Realty

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Truist Financial Corp boosted its holdings in Kimco Realty by 2.0% in the second quarter. Truist Financial Corp now owns 37,223 shares of the real estate investment trust’s stock worth $724,000 after acquiring an additional 746 shares in the last quarter. Kimelman & Baird LLC purchased a new position in shares of Kimco Realty in the 2nd quarter worth about $1,423,000. Susquehanna Fundamental Investments LLC bought a new position in Kimco Realty in the 2nd quarter worth about $3,194,000. Mackenzie Financial Corp grew its position in Kimco Realty by 2.3% during the 2nd quarter. Mackenzie Financial Corp now owns 67,604 shares of the real estate investment trust’s stock valued at $1,316,000 after purchasing an additional 1,528 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Kimco Realty by 146.6% in the second quarter. Millennium Management LLC now owns 1,477,297 shares of the real estate investment trust’s stock worth $28,748,000 after buying an additional 878,217 shares during the last quarter. 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.