Kimco Realty (NYSE:KIM) Price Target Raised to $26.00

Kimco Realty (NYSE:KIM) had its price target boosted by Robert W. Baird from $23.00 to $26.00 in a research report released on Tuesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the real estate investment trust’s stock.

Several other brokerages also recently commented on KIM. Wells Fargo & Company increased their target price on Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. increased their target price on Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Scotiabank increased their target price on Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Raymond James upgraded Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research note on Friday, August 16th. Finally, Mizuho downgraded Kimco Realty from an “outperform” rating to a “neutral” rating and increased their target price for the company from $20.00 to $23.00 in a research note on Monday, August 19th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.14.

Kimco Realty Stock Down 0.4 %

KIM stock opened at $24.72 on Tuesday. Kimco Realty has a twelve month low of $17.57 and a twelve month high of $25.19. 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 firm has a market cap of $16.66 billion, a PE ratio of 44.95, a price-to-earnings-growth ratio of 3.28 and a beta of 1.50. The business has a 50 day moving average of $23.70 and a 200 day moving average of $21.47.

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

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.25 dividend. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Thursday, December 5th. Kimco Realty’s dividend payout ratio (DPR) is currently 174.55%.

Hedge Funds Weigh In On Kimco Realty

A number of institutional investors have recently bought and sold shares of KIM. Captrust Financial Advisors raised its holdings in Kimco Realty by 3.4% during the third quarter. Captrust Financial Advisors now owns 14,657 shares of the real estate investment trust’s stock valued at $340,000 after acquiring an additional 482 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in Kimco Realty by 1.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 42,782 shares of the real estate investment trust’s stock valued at $816,000 after acquiring an additional 522 shares during the period. CWM LLC raised its holdings in Kimco Realty by 4.7% during the third quarter. CWM LLC now owns 13,323 shares of the real estate investment trust’s stock valued at $309,000 after acquiring an additional 595 shares during the period. Cascade Investment Advisors Inc. raised its holdings in Kimco Realty by 1.1% during the second quarter. Cascade Investment Advisors Inc. now owns 57,045 shares of the real estate investment trust’s stock valued at $1,110,000 after acquiring an additional 640 shares during the period. Finally, Checchi Capital Advisers LLC raised its holdings in Kimco Realty by 5.0% during the second quarter. Checchi Capital Advisers LLC now owns 14,026 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 663 shares during the period. 89.25% of the stock is owned by institutional investors.

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.