Kimco Realty (NYSE:KIM) Price Target Cut to $24.00 by Analysts at Scotiabank

Kimco Realty (NYSE:KIM) had its price target trimmed by Scotiabank from $26.00 to $24.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

Several other equities analysts have also weighed in on KIM. Jefferies Financial Group lowered Kimco Realty from a “buy” rating to a “hold” rating and cut their target price for the company from $28.00 to $25.00 in a research note on Thursday, January 2nd. Wells Fargo & Company lowered their price target on Kimco Realty from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Evercore ISI reduced their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. UBS Group upped their target price on shares of Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Robert W. Baird lifted their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Ten investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Kimco Realty presently has a consensus rating of “Moderate Buy” and an average price target of $24.43.

Kimco Realty Trading Up 2.2 %

KIM opened at $22.09 on Friday. The firm has a 50 day simple moving average of $22.42 and a 200 day simple moving average of $23.39. Kimco Realty has a fifty-two week low of $17.57 and a fifty-two week high of $25.83. The company has a market cap of $15.01 billion, a price-to-earnings ratio of 39.44, a price-to-earnings-growth ratio of 2.78 and a beta of 1.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59.

Kimco Realty (NYSE:KIM) last released its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. On average, sell-side analysts anticipate that Kimco Realty will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Friday, March 7th. Kimco Realty’s dividend payout ratio (DPR) is presently 178.57%.

Institutional Trading of Kimco Realty

Several hedge funds and other institutional investors have recently modified their holdings of KIM. State Street Corp grew its holdings in shares of Kimco Realty by 2.0% during the third quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock worth $1,048,797,000 after buying an additional 882,047 shares in the last quarter. FMR LLC boosted its position in Kimco Realty by 7.9% during the 4th quarter. FMR LLC now owns 24,095,602 shares of the real estate investment trust’s stock worth $564,560,000 after acquiring an additional 1,755,684 shares during the last quarter. Geode Capital Management LLC boosted its position in Kimco Realty by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 17,592,283 shares of the real estate investment trust’s stock worth $411,179,000 after acquiring an additional 377,074 shares during the last quarter. Invesco Ltd. grew its stake in shares of Kimco Realty by 18.3% during the 4th quarter. Invesco Ltd. now owns 17,383,750 shares of the real estate investment trust’s stock worth $407,301,000 after acquiring an additional 2,692,258 shares in the last quarter. Finally, Resolution Capital Ltd raised its holdings in shares of Kimco Realty by 13.7% in the fourth quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust’s stock valued at $388,442,000 after purchasing an additional 1,992,550 shares during the last quarter. 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.