Brokerages Set Kimco Realty Corp (NYSE:KIM) Price Target at $24.84

Shares of Kimco Realty Corp (NYSE:KIM) have been assigned an average recommendation of “Hold” from the seventeen ratings firms that are covering the firm, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $24.84.

A number of research firms have commented on KIM. Scotiabank increased their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a report on Monday, November 25th. Robert W. Baird increased their price target on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Jefferies Financial Group lowered Kimco Realty from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $28.00 to $25.00 in a research note on Thursday. Mizuho raised their target price on Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. cut shares of Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 price target on the stock. in a research report on Friday, December 20th.

Institutional Investors Weigh In On Kimco Realty

Institutional investors and hedge funds have recently modified their holdings of the company. Lord Abbett & CO. LLC purchased a new stake in Kimco Realty during the third quarter worth about $17,636,000. Synovus Financial Corp increased its stake in Kimco Realty by 6.2% during the 3rd quarter. Synovus Financial Corp now owns 42,579 shares of the real estate investment trust’s stock worth $989,000 after buying an additional 2,476 shares during the period. Tidal Investments LLC lifted its holdings in Kimco Realty by 17.9% during the 3rd quarter. Tidal Investments LLC now owns 35,999 shares of the real estate investment trust’s stock worth $836,000 after buying an additional 5,466 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Kimco Realty in the 3rd quarter valued at approximately $31,000. Finally, World Investment Advisors LLC acquired a new position in shares of Kimco Realty in the third quarter worth $269,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Price Performance

Shares of Kimco Realty stock opened at $23.17 on Friday. The stock has a market capitalization of $15.62 billion, a P/E ratio of 42.13, a PEG ratio of 3.22 and a beta of 1.51. The business has a 50 day simple moving average of $24.44 and a two-hundred day simple moving average of $22.91. Kimco Realty has a 12 month low of $17.57 and a 12 month high of $25.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick 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 the consensus estimate of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The firm had revenue of $507.63 million during the quarter, compared to analyst estimates of $502.78 million. During the same period in the prior year, the company posted $0.40 earnings per share. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, analysts predict that Kimco Realty will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a dividend of $0.25 per share. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Thursday, December 5th. 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.