Kimco Realty Corp (NYSE:KIM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Kimco Realty Corp (NYSE:KIM) has received a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $24.14.

Several analysts have recently weighed in on the stock. Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $20.00 to $23.00 in a report on Monday, August 19th. Wells Fargo & Company upped their price target on Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Argus raised Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Piper Sandler reissued an “overweight” rating and issued a $29.00 price objective (up from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Finally, Truist Financial upped their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday, August 28th.

Kimco Realty Stock Up 0.2 %

Shares of NYSE:KIM opened at $25.09 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. The stock has a market cap of $16.91 billion, a P/E ratio of 45.62, a P/E/G ratio of 3.28 and a beta of 1.50. Kimco Realty has a 1-year low of $17.57 and a 1-year high of $25.19. The firm has a fifty day moving average price of $23.84 and a 200 day moving average price of $21.66.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $502.78 million. During the same period in the prior year, the company earned $0.40 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. Sell-side analysts predict that Kimco Realty will post 1.64 EPS for the current year.

Kimco Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Thursday, December 5th. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio is 181.82%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC raised its stake in shares of Kimco Realty by 71.0% in the 1st quarter. ProShare Advisors LLC now owns 180,041 shares of the real estate investment trust’s stock valued at $3,531,000 after acquiring an additional 74,729 shares during the period. Vanguard Group Inc. lifted its stake in shares of Kimco Realty by 7.7% during the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after purchasing an additional 7,931,013 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Kimco Realty by 2.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,761,309 shares of the real estate investment trust’s stock worth $73,195,000 after buying an additional 103,861 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Kimco Realty by 11.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,107,569 shares of the real estate investment trust’s stock valued at $21,720,000 after buying an additional 109,758 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Kimco Realty by 30.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,846,943 shares of the real estate investment trust’s stock worth $114,659,000 after acquiring an additional 1,381,490 shares in the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.

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.