Kimco Realty Corp (NYSE:KIM) Receives Average Rating of “Hold” from Brokerages

Kimco Realty Corp (NYSE:KIM) has been given an average recommendation of “Hold” by the thirteen research firms that are covering the firm, MarketBeat reports. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $23.21.

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Evercore ISI upped their target price on Kimco Realty from $21.00 to $22.00 and gave the stock an “in-line” rating in a report on Wednesday. Truist Financial upped their target price on Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday. Scotiabank upped their target price on Kimco Realty from $21.00 to $23.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd.

Kimco Realty Price Performance

Shares of KIM stock opened at $23.26 on Friday. The company has a quick ratio of 1.86, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. Kimco Realty has a twelve month low of $16.34 and a twelve month high of $23.53. The company has a market cap of $15.68 billion, a P/E ratio of 43.89, a P/E/G ratio of 4.23 and a beta of 1.51. The business has a fifty day simple moving average of $21.19 and a 200 day simple moving average of $19.74.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.23). Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The business had revenue of $500.20 million for the quarter, compared to the consensus estimate of $500.87 million. During the same quarter in the prior year, the company earned $0.39 earnings per share. Kimco Realty’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, sell-side analysts forecast that Kimco Realty will post 1.6 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be paid a $0.24 dividend. The ex-dividend date is Thursday, September 5th. This represents a $0.96 annualized dividend and a dividend yield of 4.13%. Kimco Realty’s payout ratio is 181.13%.

Insider Activity at Kimco Realty

In related news, COO David Jamieson sold 50,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the sale, the chief operating officer now owns 337,111 shares in the company, valued at approximately $7,389,473.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kimco Realty

Institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC bought a new position in Kimco Realty in the fourth quarter worth approximately $27,000. Principal Securities Inc. bought a new position in Kimco Realty in the fourth quarter worth approximately $29,000. Blue Trust Inc. boosted its holdings in Kimco Realty by 613.5% in the second 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 in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Kimco Realty by 52.6% in the first 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 in the last quarter. Finally, UMB Bank n.a. boosted its holdings in Kimco Realty by 112.6% in the second quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 1,787 shares in the last quarter. 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.