The Goldman Sachs Group Boosts Kimco Realty (NYSE:KIM) Price Target to $22.50

Kimco Realty (NYSE:KIM) had its target price upped by stock analysts at The Goldman Sachs Group from $20.00 to $22.50 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s price target points to a potential downside of 6.33% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Raymond James raised shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 target price for the company in a research note on Friday, August 16th. Truist Financial boosted their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $20.00 to $23.00 in a research note on Monday, August 19th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Kimco Realty has a consensus rating of “Moderate Buy” and an average price target of $23.48.

Kimco Realty Price Performance

NYSE:KIM opened at $24.02 on Thursday. The company has a 50-day moving average of $22.03 and a 200-day moving average of $20.00. The company has a market capitalization of $16.19 billion, a price-to-earnings ratio of 45.32, a PEG ratio of 4.01 and a beta of 1.51. Kimco Realty has a 52 week low of $16.34 and a 52 week high of $24.06. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73.

Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The business had revenue of $500.20 million for the quarter, compared to the consensus estimate of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. Kimco Realty’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. As a group, equities research analysts anticipate that Kimco Realty will post 1.62 earnings per share for the current fiscal year.

Insider Transactions at Kimco Realty

In related news, COO David Jamieson sold 50,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now owns 337,111 shares in the company, valued at $7,389,473.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Analyst IMS Investment Management Services Ltd. grew its holdings in Kimco Realty by 157.1% during the fourth quarter. Analyst IMS Investment Management Services Ltd. now owns 167,422 shares of the real estate investment trust’s stock valued at $3,568,000 after purchasing an additional 102,300 shares during the period. ProShare Advisors LLC grew 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 valued at $3,531,000 after purchasing an additional 74,729 shares during the period. Vanguard Group Inc. grew its holdings in Kimco Realty by 7.7% during the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock valued at $2,162,347,000 after purchasing an additional 7,931,013 shares during the period. Evoke Wealth LLC acquired a new position in Kimco Realty during the fourth quarter valued at approximately $4,181,000. Finally, Forsta AP Fonden grew its holdings in Kimco Realty by 232.9% during the first quarter. Forsta AP Fonden now owns 435,800 shares of the real estate investment trust’s stock valued at $8,546,000 after purchasing an additional 304,900 shares during the period. 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.