Wells Fargo & Company Cuts Kimco Realty (NYSE:KIM) Price Target to $23.00

Kimco Realty (NYSE:KIM) had its price target cut by investment analysts at Wells Fargo & Company from $24.00 to $23.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 9.49% from the company’s current price.

A number of other brokerages have also issued reports on KIM. Scotiabank decreased their price target on Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. decreased their target price on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and dropped their price target for the stock from $28.00 to $25.00 in a research report on Thursday, January 2nd. Mizuho decreased their price target on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Finally, Evercore ISI dropped their price objective on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. Ten research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.43.

Kimco Realty Price Performance

Kimco Realty stock opened at $21.01 on Wednesday. The firm’s 50-day moving average is $21.79 and its two-hundred day moving average is $23.14. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59. The stock has a market capitalization of $14.27 billion, a P/E ratio of 37.51, a P/E/G ratio of 2.78 and a beta of 1.53. Kimco Realty has a 12-month low of $17.57 and a 12-month high of $25.83.

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 the consensus estimate of $0.42. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. Equities analysts predict that Kimco Realty will post 1.71 earnings per share for the current year.

Hedge Funds Weigh In On Kimco Realty

A number of institutional investors and hedge funds have recently bought and sold shares of KIM. Fairtree Asset Management Pty Ltd acquired a new position in shares of Kimco Realty during the fourth quarter worth $786,000. 111 Capital purchased a new position in Kimco Realty in the 4th quarter valued at about $287,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Kimco Realty during the fourth quarter valued at about $5,061,000. Phocas Financial Corp. purchased a new stake in shares of Kimco Realty during the fourth quarter worth about $211,000. Finally, Siemens Fonds Invest GmbH acquired a new position in shares of Kimco Realty in the fourth quarter worth about $131,000. Hedge funds and other institutional investors 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.