Kimco Realty (NYSE:KIM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Kimco Realty (NYSE:KIM) had its target price hoisted by stock analysts at Wells Fargo & Company from $21.00 to $25.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 8.95% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Robert W. Baird set a $25.00 price objective on shares of Kimco Realty in a report on Friday, February 13th. UBS Group dropped their price target on shares of Kimco Realty from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Barclays reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of Kimco Realty in a research report on Tuesday, January 13th. Truist Financial dropped their target price on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Tuesday, January 20th. Finally, Citigroup reduced their target price on Kimco Realty from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Kimco Realty Stock Up 0.4%

Shares of NYSE:KIM traded up $0.10 during mid-day trading on Thursday, hitting $22.95. 438,766 shares of the company traded hands, compared to its average volume of 5,836,363. The stock has a market cap of $15.47 billion, a P/E ratio of 28.36, a P/E/G ratio of 1.30 and a beta of 1.04. The stock has a 50-day moving average price of $22.09 and a two-hundred day moving average price of $21.42. Kimco Realty has a 12-month low of $17.93 and a 12-month high of $23.91. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.78.

Hedge Funds Weigh In On Kimco Realty

Institutional investors and hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its position in Kimco Realty by 9.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 539,577 shares of the real estate investment trust’s stock worth $10,937,000 after buying an additional 48,672 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of Kimco Realty by 5.6% during the 4th quarter. Corient Private Wealth LLC now owns 43,112 shares of the real estate investment trust’s stock worth $874,000 after acquiring an additional 2,302 shares during the period. Hsbc Holdings PLC grew its stake in shares of Kimco Realty by 8.6% during the 4th quarter. Hsbc Holdings PLC now owns 3,587,902 shares of the real estate investment trust’s stock worth $72,724,000 after acquiring an additional 283,385 shares during the period. Reflection Asset Management purchased a new stake in Kimco Realty in the 4th quarter worth about $1,184,000. Finally, Pacer Advisors Inc. raised its stake in Kimco Realty by 76.9% in the 4th quarter. Pacer Advisors Inc. now owns 95,572 shares of the real estate investment trust’s stock valued at $1,937,000 after acquiring an additional 41,556 shares during the period. 89.25% of the stock is owned by institutional investors.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.