Piper Sandler Issues Pessimistic Forecast for Kimco Realty (NYSE:KIM) Stock Price

Kimco Realty (NYSE:KIM) had its price objective decreased by Piper Sandler from $29.00 to $28.00 in a report released on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the real estate investment trust’s stock.

KIM has been the topic of several other research reports. Citigroup cut their price objective on Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Mizuho cut their price target on Kimco Realty from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Wells Fargo & Company lowered their price objective on Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Scotiabank cut their target price on shares of Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.68.

Kimco Realty Stock Down 2.0 %

KIM stock opened at $20.70 on Monday. The firm has a 50-day moving average price of $20.65 and a 200-day moving average price of $22.50. Kimco Realty has a 12 month low of $17.93 and a 12 month high of $25.83. The company has a current ratio of 3.65, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $14.07 billion, a P/E ratio of 36.96, a price-to-earnings-growth ratio of 2.78 and a beta of 1.25.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. The business had revenue of $536.62 million during the quarter, compared to the consensus estimate of $520.68 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The firm’s revenue was up 965.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Kimco Realty will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.83%. The ex-dividend date is Friday, June 6th. Kimco Realty’s dividend payout ratio (DPR) is presently 178.57%.

Institutional Investors Weigh In On Kimco Realty

Several institutional investors and hedge funds have recently made changes to their positions in the business. Summit Securities Group LLC acquired a new position in Kimco Realty in the fourth quarter valued at approximately $26,000. Golden State Wealth Management LLC increased 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 purchasing an additional 911 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Kimco Realty during the 3rd quarter worth approximately $31,000. Brown Brothers Harriman & Co. raised its position in shares of Kimco Realty by 78.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 575 shares during the period. Finally, WASHINGTON TRUST Co bought a new position in shares of Kimco Realty in the first quarter valued at $34,000. Institutional investors own 89.25% of the company’s stock.

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.