Kimco Realty (NYSE:KIM) Sets New 1-Year High Following Analyst Upgrade

Kimco Realty Corp (NYSE:KIM) shares reached a new 52-week high during mid-day trading on Tuesday after Robert W. Baird raised their price target on the stock from $23.00 to $26.00. Robert W. Baird currently has an outperform rating on the stock. Kimco Realty traded as high as $25.19 and last traded at $25.04, with a volume of 121206 shares. The stock had previously closed at $25.06.

A number of other analysts also recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. UBS Group increased their target price on shares of Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday. Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $20.00 to $23.00 in a research report on Monday, August 19th. Piper Sandler reissued an “overweight” rating and set a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Finally, Compass Point increased their price objective on shares of Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Kimco Realty presently has a consensus rating of “Moderate Buy” and an average price target of $24.14.

Hedge Funds Weigh In On Kimco Realty

Several large investors have recently added to or reduced their stakes in KIM. Catalyst Capital Advisors LLC bought a new stake in Kimco Realty in the third quarter valued at $25,000. Blue Trust Inc. lifted its stake in Kimco Realty by 613.5% in the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,816 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Kimco Realty by 52.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 773 shares during the last quarter. Castleview Partners LLC bought a new stake in Kimco Realty in the third quarter valued at $77,000. Finally, UMB Bank n.a. lifted its stake in Kimco Realty by 112.6% in the second quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 1,787 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Price Performance

The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $16.88 billion, a P/E ratio of 45.56, a PEG ratio of 3.29 and a beta of 1.50. The business has a 50 day simple moving average of $23.64 and a 200-day simple moving average of $21.40.

Kimco Realty (NYSE:KIM) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). The company had revenue of $507.63 million during the quarter, compared to the consensus estimate of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share. Analysts predict that Kimco Realty Corp will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.99%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, December 5th. Kimco Realty’s dividend payout ratio (DPR) is 181.82%.

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.