Kimco Realty (NYSE:KIM) Price Target Cut to $24.00 by Analysts at Scotiabank

Kimco Realty (NYSE:KIM) had its target price reduced by Scotiabank from $26.00 to $24.00 in a research note released on Friday morning,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Other analysts also recently issued reports about the stock. Mizuho lowered their price objective on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday. Wells Fargo & Company lowered their price objective on shares of Kimco Realty from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Robert W. Baird lifted their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. lowered their price objective on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Finally, Evercore ISI lowered their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. Ten analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.43.

Kimco Realty Stock Performance

Shares of KIM opened at $22.09 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65. Kimco Realty has a twelve month low of $17.57 and a twelve month high of $25.83. The firm’s 50 day moving average price is $22.42 and its two-hundred day moving average price is $23.37. The firm has a market cap of $15.01 billion, a P/E ratio of 39.44, a PEG ratio of 2.78 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. On average, analysts forecast that Kimco Realty will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.00 dividend on an annualized basis and a yield of 4.53%. Kimco Realty’s dividend payout ratio (DPR) is 178.57%.

Hedge Funds Weigh In On Kimco Realty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KIM. Creative Planning boosted its position in Kimco Realty by 3.5% during the third quarter. Creative Planning now owns 51,130 shares of the real estate investment trust’s stock worth $1,187,000 after purchasing an additional 1,740 shares during the period. Assenagon Asset Management S.A. bought a new position in Kimco Realty during the third quarter worth $276,000. Farther Finance Advisors LLC boosted its position in Kimco Realty by 20.8% during the third quarter. Farther Finance Advisors LLC now owns 8,283 shares of the real estate investment trust’s stock worth $192,000 after purchasing an additional 1,426 shares during the period. Realta Investment Advisors bought a new stake in shares of Kimco Realty in the third quarter valued at about $407,000. Finally, Van ECK Associates Corp boosted its position in shares of Kimco Realty by 10.7% in the third quarter. Van ECK Associates Corp now owns 298,909 shares of the real estate investment trust’s stock valued at $7,162,000 after acquiring an additional 29,002 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.