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

Kimco Realty Corp (NYSE:KIM)’s stock price hit a new 52-week high during mid-day 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 traded. The stock had previously closed at $25.06.

Several other research firms also recently commented on KIM. Evercore ISI raised their price objective on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Truist Financial raised their price objective on Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Compass Point raised their price objective on Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Argus raised Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company lifted their target price on Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Kimco Realty presently has a consensus rating of “Moderate Buy” and an average target price of $24.14.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board purchased a new stake in shares of Kimco Realty in the first quarter worth about $200,043,000. Vanguard Group Inc. boosted its stake in shares of Kimco Realty by 7.7% in the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after buying an additional 7,931,013 shares during the last quarter. Centersquare Investment Management LLC boosted its position in Kimco Realty by 76.8% during the first quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock worth $269,531,000 after purchasing an additional 6,282,891 shares in the last quarter. Janus Henderson Group PLC boosted its position in Kimco Realty by 3,711.4% during the first quarter. Janus Henderson Group PLC now owns 2,828,917 shares of the real estate investment trust’s stock worth $55,462,000 after purchasing an additional 2,754,695 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Kimco Realty by 43.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,943,646 shares of the real estate investment trust’s stock worth $154,583,000 after purchasing an additional 2,400,752 shares in the last quarter. 89.25% of the stock is owned by institutional investors.

Kimco Realty Stock Up 0.6 %

The company has a market cap of $16.73 billion, a PE ratio of 45.13, a P/E/G ratio of 3.26 and a beta of 1.50. The business has a 50-day simple moving average of $23.67 and a 200-day simple moving average of $21.44. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The business had revenue of $507.63 million for the quarter, compared to analysts’ expectations of $502.78 million. During the same quarter in the prior year, the company posted $0.40 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts anticipate that Kimco Realty Corp will post 1.64 EPS for the current year.

Kimco Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.03%. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio is presently 174.55%.

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.