Kimco Realty (NYSE:KIM) Given New $23.00 Price Target at Evercore ISI

Kimco Realty (NYSE:KIM) had its target price increased by Evercore ISI from $22.00 to $23.00 in a report issued on Monday morning, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. raised their price objective on Kimco Realty from $22.00 to $24.00 and gave the company an overweight rating in a research note on Friday, August 2nd. The Goldman Sachs Group lifted their price target on shares of Kimco Realty from $20.00 to $22.50 and gave the company a neutral rating in a research report on Thursday, September 12th. Argus upgraded shares of Kimco Realty to a strong-buy rating in a report on Friday, September 6th. Robert W. Baird raised their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the company an outperform rating in a research note on Thursday, August 8th. Finally, Piper Sandler reissued an overweight rating and set a $29.00 target price (up from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $23.55.

Kimco Realty Stock Performance

Shares of KIM stock opened at $24.06 on Monday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. Kimco Realty has a 52 week low of $16.34 and a 52 week high of $24.25. The firm has a 50 day moving average of $22.13 and a 200-day moving average of $20.04. The company has a market cap of $16.22 billion, a price-to-earnings ratio of 45.40, a price-to-earnings-growth ratio of 4.01 and a beta of 1.51.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results 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). The company had revenue of $500.20 million during the quarter, compared to the consensus estimate of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. On average, equities analysts forecast that Kimco Realty will post 1.62 earnings per share for the current year.

Kimco Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a yield of 3.99%. Kimco Realty’s dividend payout ratio (DPR) is currently 181.13%.

Insiders Place Their Bets

In other news, COO David Jamieson sold 50,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Kimco Realty

Several institutional investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. bought a new position in shares of Kimco Realty during the 4th quarter valued at approximately $29,000. Principal Financial Group Inc. grew its holdings in Kimco Realty by 21.8% during the fourth quarter. Principal Financial Group Inc. now owns 1,145,255 shares of the real estate investment trust’s stock valued at $24,405,000 after purchasing an additional 205,090 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Kimco Realty by 29.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 38,777 shares of the real estate investment trust’s stock worth $826,000 after buying an additional 8,857 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Kimco Realty by 17.4% in the fourth quarter. Quadrant Capital Group LLC now owns 4,833 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 717 shares during the period. Finally, Kentucky Retirement Systems lifted its position in shares of Kimco Realty by 1.3% during the 4th quarter. Kentucky Retirement Systems now owns 49,597 shares of the real estate investment trust’s stock valued at $1,057,000 after buying an additional 631 shares during 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.