Boenning Scattergood reissued their hold rating on shares of Kimco Realty Corporation (NYSE:KIM) in a research note issued to investors on Friday. Boenning Scattergood also issued estimates for Kimco Realty Corporation’s Q4 2018 earnings at $0.42 EPS.

“Weaker SS NOI, but Strong Releasing Spreads – The company posted weaker SS NOI growth of 30 bps as Sports Authority dragged down growth by 210 bps. The company increased occupancy by 20 bps to 95.5% while average releasing spreads were a strong 10.4%. New lease spreads were 17.0%, but releasing costs appeared elevated at $55 per square foot. In addition, the spread between leased and occupied is about 100 bps higher than average, suggesting stronger occupancy gains in the second half of 2017. Acquisition of Jantzen Beach Increases Power Center Exposure – During the quarter, KIM acquired ‘A’ rated Jantzen Beach Center, a 746,000 square foot power center in Portland, OR just off the I-5 for $131.8 million. Investors have questioned the low 5% cap rate acquisition when KIM shares are trading at a large discount. In addition, while dominant with expansion opportunity, Jantzen increases KIM exposure to high anchor percentage power centers that historically had lower SS NOI growth.”,” the firm’s analyst commented.

A number of other research firms also recently weighed in on KIM. BidaskClub raised shares of Kimco Realty Corporation from a strong sell rating to a sell rating in a research note on Wednesday, June 14th. ValuEngine downgraded shares of Kimco Realty Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. Barclays PLC dropped their price target on shares of Kimco Realty Corporation from $25.00 to $22.00 and set an overweight rating on the stock in a research note on Monday, June 26th. Goldman Sachs Group, Inc. (The) raised shares of Kimco Realty Corporation from a sell rating to a neutral rating and set a $18.70 target price on the stock in a research report on Tuesday, June 20th. Finally, Canaccord Genuity reissued a buy rating and set a $34.00 target price on shares of Kimco Realty Corporation in a research report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Kimco Realty Corporation presently has a consensus rating of Hold and an average price target of $27.90.

Kimco Realty Corporation (NYSE KIM) opened at 20.18 on Friday. The firm has a market cap of $8.59 billion, a PE ratio of 41.52 and a beta of 0.65. Kimco Realty Corporation has a one year low of $17.02 and a one year high of $32.10. The company has a 50-day moving average price of $18.82 and a 200-day moving average price of $21.18.

Kimco Realty Corporation (NYSE:KIM) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.07. Kimco Realty Corporation had a return on equity of 4.68% and a net margin of 21.77%. The company had revenue of $292.84 million during the quarter, compared to analyst estimates of $290.95 million. During the same period last year, the company posted $0.37 earnings per share. The company’s revenue was up 2.0% compared to the same quarter last year. Equities analysts predict that Kimco Realty Corporation will post $0.61 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This story was first published by Watch List News and is owned by of Watch List News. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://www.watchlistnews.com/boenning-scattergood-reaffirms-hold-rating-for-kimco-realty-corporation-nysekim/1465361.html.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Wednesday, October 4th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend is Tuesday, October 3rd. Kimco Realty Corporation’s dividend payout ratio (DPR) is presently 220.41%.

In other Kimco Realty Corporation news, Director Philip E. Coviello, Jr. purchased 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was purchased at an average price of $19.44 per share, with a total value of $145,800.00. Following the completion of the transaction, the director now directly owns 41,045 shares of the company’s stock, valued at approximately $797,914.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Philip E. Coviello, Jr. purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was acquired at an average cost of $17.37 per share, with a total value of $347,400.00. Following the transaction, the director now directly owns 41,045 shares of the company’s stock, valued at $712,951.65. The disclosure for this purchase can be found here. Corporate insiders own 2.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Profund Advisors LLC raised its position in shares of Kimco Realty Corporation by 0.3% in the first quarter. Profund Advisors LLC now owns 22,393 shares of the real estate investment trust’s stock valued at $495,000 after buying an additional 67 shares in the last quarter. Westwood Holdings Group Inc. raised its position in shares of Kimco Realty Corporation by 0.6% in the first quarter. Westwood Holdings Group Inc. now owns 18,038 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 110 shares in the last quarter. Financial Advisory Service Inc. raised its position in shares of Kimco Realty Corporation by 1.0% in the first quarter. Financial Advisory Service Inc. now owns 11,200 shares of the real estate investment trust’s stock valued at $247,000 after buying an additional 112 shares in the last quarter. Private Asset Management Inc. raised its position in shares of Kimco Realty Corporation by 1.8% in the second quarter. Private Asset Management Inc. now owns 11,338 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 200 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Kimco Realty Corporation by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 26,400 shares of the real estate investment trust’s stock valued at $484,000 after buying an additional 200 shares in the last quarter. 90.13% of the stock is owned by hedge funds and other institutional investors.

About Kimco Realty Corporation

Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.

Analyst Recommendations for Kimco Realty Corporation (NYSE:KIM)

Receive News & Ratings for Kimco Realty Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kimco Realty Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.