Kimco Realty (NYSE:KIM) Sets New 12-Month High on Analyst Upgrade

Shares of Kimco Realty Corporation (NYSE:KIM) hit a new 52-week high during mid-day trading on Tuesday after Piper Sandler raised their price target on the stock from $26.00 to $28.00. Piper Sandler currently has an overweight rating on the stock. Kimco Realty traded as high as $23.11 and last traded at $22.7830, with a volume of 179357 shares. The stock had previously closed at $22.71.

Other research analysts also recently issued research reports about the stock. Scotiabank decreased their price objective on shares of Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating for the company in a research report on Thursday, November 13th. Wells Fargo & Company reduced their price target on Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, December 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Kimco Realty in a research note on Thursday, January 22nd. Robert W. Baird set a $25.00 target price on Kimco Realty in a research note on Friday. Finally, Wall Street Zen upgraded Kimco Realty from a “sell” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.17.

Hedge Funds Weigh In On Kimco Realty

Several institutional investors have recently made changes to their positions in the stock. Knights of Columbus Asset Advisors LLC boosted its stake in Kimco Realty by 94.1% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 70,662 shares of the real estate investment trust’s stock worth $1,544,000 after purchasing an additional 34,251 shares during the period. AE Wealth Management LLC bought a new stake in Kimco Realty during the 3rd quarter worth approximately $4,653,000. AlphaQuest LLC increased its holdings in Kimco Realty by 124.0% during the 3rd quarter. AlphaQuest LLC now owns 119,706 shares of the real estate investment trust’s stock worth $2,616,000 after acquiring an additional 66,269 shares during the period. iA Global Asset Management Inc. purchased a new stake in Kimco Realty in the 3rd quarter worth approximately $1,100,000. Finally, Pacific Heights Asset Management LLC boosted its holdings in Kimco Realty by 66.7% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the real estate investment trust’s stock valued at $10,925,000 after purchasing an additional 200,000 shares during the period. Institutional investors and hedge funds own 89.25% of the company’s stock.

Kimco Realty Price Performance

The stock has a market capitalization of $15.39 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.07. The business’s 50-day moving average price is $20.78 and its 200 day moving average price is $21.16. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.31.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Friday, March 6th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Friday, March 6th. Kimco Realty’s dividend payout ratio (DPR) is currently 128.40%.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.