Kimco Realty (NYSE:KIM) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Kimco Realty (NYSE:KIM) in a research note released on Tuesday. The firm issued an equal weight rating and a $23.00 price target on the real estate investment trust’s stock.

Several other equities research analysts have also recently commented on KIM. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kimco Realty in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Kimco Realty from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Barclays lifted their price objective on shares of Kimco Realty from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Evercore ISI lifted their price objective on shares of 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, LADENBURG THALM/SH SH initiated coverage on shares of Kimco Realty in a research note on Tuesday, September 9th. They set a “buy” rating and a $27.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.92.

Kimco Realty Stock Up 1.0%

Shares of NYSE:KIM opened at $22.23 on Tuesday. Kimco Realty has a one year low of $17.93 and a one year high of $25.83. The company has a 50 day moving average of $21.86 and a 200-day moving average of $21.26. 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 stock has a market cap of $15.05 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 1.60 and a beta of 1.30.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, July 31st. 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 company had revenue of $525.18 million during the quarter, compared to analysts’ expectations of $524.75 million. During the same quarter in the previous year, the company earned $0.41 EPS. Kimco Realty’s revenue was up 5.0% on a year-over-year basis. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. On average, sell-side analysts forecast that Kimco Realty will post 1.71 earnings per share for the current year.

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.5%. Kimco Realty’s payout ratio is presently 120.48%.

Insiders Place Their Bets

In other Kimco Realty news, Director Mary Hogan Preusse sold 23,100 shares of Kimco Realty 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 transaction, the director owned 40,260 shares of the company’s stock, valued at approximately $872,031.60. The trade was a 36.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Trust Co. of Toledo NA OH bought a new position in Kimco Realty in the second quarter valued at approximately $27,000. AlphaQuest LLC bought a new position in Kimco Realty in the first quarter valued at approximately $29,000. Keystone Global Partners LLC bought a new position in Kimco Realty in the first quarter valued at approximately $30,000. Golden State Wealth Management LLC lifted its stake in Kimco Realty by 177.6% in the first quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 911 shares in the last quarter. Finally, WASHINGTON TRUST Co bought a new stake in shares of Kimco Realty in the first quarter worth $34,000. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Company Profile

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.