Kimco Realty (NYSE:KIM) Price Target Raised to $26.00

Kimco Realty (NYSE:KIM) had its price target lifted by Scotiabank from $23.00 to $26.00 in a research note published on Monday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on KIM. 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 report on Wednesday, August 28th. UBS Group lifted their target price on Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, November 8th. 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 report on Thursday, September 12th. Evercore ISI lifted their price target on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their price target on Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Nine 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.33.

Kimco Realty Price Performance

Shares of KIM opened at $25.78 on Monday. Kimco Realty has a 12-month low of $17.57 and a 12-month high of $25.80. The business’s fifty day moving average is $24.04 and its 200 day moving average is $21.91. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. The stock has a market cap of $17.38 billion, a P/E ratio of 46.87, a P/E/G ratio of 3.34 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last issued its 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). The firm had revenue of $507.63 million during the quarter, compared to the consensus estimate of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. Kimco Realty’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Sell-side analysts anticipate that Kimco Realty will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.25 dividend. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.00 dividend on an annualized basis and a yield of 3.88%. Kimco Realty’s dividend payout ratio is presently 174.55%.

Institutional Trading of Kimco Realty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Catalyst Capital Advisors LLC purchased a new stake in Kimco Realty in the third quarter worth about $25,000. Wilmington Savings Fund Society FSB purchased a new stake in Kimco Realty in the third quarter worth about $31,000. Brooklyn Investment Group purchased a new stake in shares of Kimco Realty during the third quarter worth about $37,000. Blue Trust Inc. increased its stake in Kimco Realty by 613.5% in the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,816 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Kimco Realty by 52.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 773 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.