Kimco Realty (NYSE:KIM) Lowered to Neutral Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Kimco Realty (NYSE:KIM) from an overweight rating to a neutral rating in a research note published on Friday, Marketbeat Ratings reports. They currently have $26.00 price target on the real estate investment trust’s stock.

Several other equities analysts also recently weighed in on KIM. Truist Financial raised their target price on Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Argus raised shares of Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Evercore ISI increased their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Mizuho upped their price objective on shares of Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company raised their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Ten equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.83.

Kimco Realty Price Performance

NYSE:KIM opened at $23.42 on Friday. The stock has a market capitalization of $15.79 billion, a PE ratio of 42.58, a price-to-earnings-growth ratio of 3.20 and a beta of 1.50. Kimco Realty has a 52 week low of $17.57 and a 52 week high of $25.83. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. The stock’s 50-day moving average price is $24.57 and its 200-day moving average price is $22.61.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). The business had revenue of $507.63 million during the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. As a group, equities analysts expect that Kimco Realty will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.27%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s payout ratio is presently 181.82%.

Institutional Trading of Kimco Realty

A number of institutional investors have recently modified their holdings of the business. Catalyst Capital Advisors LLC purchased a new position in Kimco Realty in the 3rd quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in Kimco Realty in the third quarter valued at $31,000. Brooklyn Investment Group purchased a new position in shares of Kimco Realty in the third quarter valued at $37,000. Blue Trust Inc. increased its position in shares of 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 valued at $41,000 after buying an additional 1,816 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Kimco Realty during the 3rd quarter worth $51,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

About Kimco Realty

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.