Kimco Realty Corporation (NYSE:KIM) Receives $24.27 Average PT from Brokerages

Shares of Kimco Realty Corporation (NYSE:KIM) have received a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $24.2727.

Several equities research analysts have commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Kimco Realty in a research note on Wednesday, October 8th. Scotiabank lowered their target price on Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 13th. Piper Sandler reduced their price target on Kimco Realty from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Evercore ISI increased their price target on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Monday, September 8th. Finally, Wall Street Zen lowered Kimco Realty from a “hold” rating to a “sell” rating in a report on Saturday, November 1st.

Insider Buying and Selling at Kimco Realty

In other news, Director Mary Hogan Preusse sold 23,100 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $21.66, for a total value of $500,346.00. Following the completion of the transaction, the director directly owned 40,260 shares in the company, valued at $872,031.60. This trade represents a 36.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Kimco Realty

A number of institutional investors have recently added to or reduced their stakes in KIM. Quent Capital LLC acquired a new position in shares of Kimco Realty during the 3rd quarter valued at $27,000. Trust Co. of Toledo NA OH bought a new position in Kimco Realty during the second quarter valued at about $27,000. City Holding Co. bought a new position in Kimco Realty during the third quarter valued at about $30,000. AlphaQuest LLC acquired a new position in Kimco Realty during the first quarter worth about $29,000. Finally, Keystone Global Partners LLC bought a new stake in Kimco Realty in the first quarter worth about $30,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Price Performance

Shares of NYSE KIM opened at $20.63 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.92. The firm has a market capitalization of $13.97 billion, a PE ratio of 24.86, a P/E/G ratio of 1.56 and a beta of 1.28. Kimco Realty has a 1-year low of $17.93 and a 1-year high of $25.83. The business’s fifty day moving average price is $21.19 and its two-hundred day moving average price is $21.38.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The business had revenue of $535.86 million during the quarter, compared to analyst estimates of $522.31 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. On average, research analysts expect that Kimco Realty will post 1.71 EPS for the current year.

Kimco Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a dividend of $0.26 per share. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, December 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.0%. Kimco Realty’s payout ratio is presently 125.30%.

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.