Kimco Realty Corporation (KIM) Given Consensus Recommendation of “Buy” by Analysts
Shares of Kimco Realty Corporation (NYSE:KIM) have been given an average rating of “Buy” by the twenty ratings firms that are covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $27.15.
Several research analysts have weighed in on KIM shares. BidaskClub raised Kimco Realty Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Boenning Scattergood reaffirmed a “hold” rating on shares of Kimco Realty Corporation in a research report on Friday, July 28th. ValuEngine lowered Kimco Realty Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Barclays PLC lowered their price objective on Kimco Realty Corporation from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, June 26th. Finally, Goldman Sachs Group, Inc. (The) raised Kimco Realty Corporation from a “sell” rating to a “neutral” rating and set a $18.70 price objective on the stock in a report on Tuesday, June 20th.
In other news, Director Philip E. Coviello, Jr. acquired 20,000 shares of Kimco Realty Corporation stock in a transaction on Monday, June 5th. The stock was bought at an average price of $17.37 per share, for a total transaction of $347,400.00. Following the transaction, the director now owns 41,045 shares of the company’s stock, valued at $712,951.65. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 2.90% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Kimco Realty Corporation by 2,779.7% in the first quarter. BlackRock Inc. now owns 39,861,866 shares of the real estate investment trust’s stock worth $880,549,000 after buying an additional 38,477,627 shares in the last quarter. Hamlin Capital Management LLC purchased a new stake in shares of Kimco Realty Corporation during the second quarter worth approximately $57,217,000. JPMorgan Chase & Co. increased its stake in shares of Kimco Realty Corporation by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 35,695,241 shares of the real estate investment trust’s stock worth $788,509,000 after buying an additional 2,483,036 shares in the last quarter. FMR LLC increased its stake in shares of Kimco Realty Corporation by 24.5% in the second quarter. FMR LLC now owns 12,220,784 shares of the real estate investment trust’s stock worth $224,251,000 after buying an additional 2,408,799 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Kimco Realty Corporation by 207.3% in the first quarter. Renaissance Technologies LLC now owns 2,456,829 shares of the real estate investment trust’s stock worth $54,271,000 after buying an additional 1,657,434 shares in the last quarter. Institutional investors own 90.74% of the company’s stock.
Kimco Realty Corporation (KIM) opened at 19.99 on Friday. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 40.71 and a beta of 0.67. Kimco Realty Corporation has a 1-year low of $17.02 and a 1-year high of $30.70. The stock has a 50 day moving average price of $19.27 and a 200 day moving average price of $20.95.
Kimco Realty Corporation (NYSE:KIM) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the 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 firm had revenue of $292.84 million during the quarter, compared to analyst estimates of $290.95 million. During the same period in the previous year, the company earned $0.37 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts predict that Kimco Realty Corporation will post $0.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Wednesday, October 4th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.08 annualized dividend and a yield of 5.40%. Kimco Realty Corporation’s payout ratio is 220.41%.
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.
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