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

Kimco Realty (NYSE:KIM) had its price objective trimmed by Evercore ISI from $24.00 to $23.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

KIM has been the subject of a number of other reports. JPMorgan Chase & Co. downgraded Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 target price for the company. in a research note on Friday, December 20th. Scotiabank raised their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Monday, November 25th. Robert W. Baird boosted their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Wells Fargo & Company raised their price target 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. Finally, 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. Ten analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.83.

Kimco Realty Stock Performance

KIM opened at $23.62 on Tuesday. Kimco Realty has a twelve month low of $17.57 and a twelve month high of $25.83. The firm has a market capitalization of $15.92 billion, a PE ratio of 42.95, a PEG ratio of 3.20 and a beta of 1.50. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The firm’s 50-day moving average price is $24.57 and its 200 day moving average price is $22.64.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.22). Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The company had revenue of $507.63 million for the quarter, compared to analyst estimates of $502.78 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, sell-side analysts expect that Kimco Realty will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend was Thursday, December 5th. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s payout ratio is currently 181.82%.

Hedge Funds Weigh In On Kimco Realty

Hedge funds and other institutional investors have recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new stake in Kimco Realty during the 3rd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kimco Realty in the third quarter valued at $31,000. Brooklyn Investment Group acquired a new stake in shares of Kimco Realty in the third quarter valued at $37,000. Quarry LP purchased a new position in Kimco Realty in the third quarter valued at $51,000. Finally, UMB Bank n.a. grew its stake in Kimco Realty by 112.6% during the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 1,787 shares in the last quarter. 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.