Kimco Realty Corp (NYSE:KIM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Kimco Realty Corp (NYSE:KIM) have received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $23.55.

A number of analysts recently commented on KIM shares. Wells Fargo & Company boosted their price objective on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Piper Sandler reissued an “overweight” rating and set a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $20.00 to $23.00 in a report on Monday, August 19th. The Goldman Sachs Group boosted their price objective on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, Argus raised shares of Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th.

Kimco Realty Price Performance

Shares of NYSE:KIM opened at $23.63 on Wednesday. The company has a market cap of $15.93 billion, a price-to-earnings ratio of 44.58, a PEG ratio of 4.01 and a beta of 1.51. The firm’s 50-day simple moving average is $22.51 and its 200-day simple moving average is $20.20. 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 fifty-two week low of $16.34 and a fifty-two week high of $24.25.

Kimco Realty (NYSE:KIM) last issued its 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 firm had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. As a group, equities research analysts predict 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 was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were issued a $0.24 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.96 annualized dividend and a yield of 4.06%. Kimco Realty’s dividend payout ratio (DPR) is presently 181.13%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Kimco Realty by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after purchasing an additional 7,931,013 shares during the period. Cohen & Steers Inc. increased its holdings in shares of Kimco Realty by 7.3% during the 4th quarter. Cohen & Steers Inc. now owns 44,190,222 shares of the real estate investment trust’s stock worth $941,817,000 after buying an additional 3,022,995 shares during the last quarter. APG Asset Management US Inc. increased its holdings in shares of Kimco Realty by 1.6% during the 2nd quarter. APG Asset Management US Inc. now owns 14,953,570 shares of the real estate investment trust’s stock worth $288,155,000 after buying an additional 240,000 shares during the last quarter. Centersquare Investment Management LLC increased its holdings in shares of Kimco Realty by 76.8% during the 1st quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock worth $269,531,000 after buying an additional 6,282,891 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Kimco Realty by 11.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock worth $221,740,000 after buying an additional 1,193,600 shares during the last quarter. 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.