Wells Fargo & Company Cuts Kimco Realty (NYSE:KIM) Price Target to $23.00

Kimco Realty (NYSE:KIM) had its price objective decreased by Wells Fargo & Company from $24.00 to $23.00 in a report issued on Wednesday, MarketBeat Ratings reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Several other brokerages have also recently commented on KIM. Mizuho lowered their price target on Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Evercore ISI dropped their price target on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. JPMorgan Chase & Co. cut their price target 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. Scotiabank decreased their price objective on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Finally, Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and dropped their target price for the stock from $28.00 to $25.00 in a research report on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.43.

Kimco Realty Stock Down 0.4 %

KIM stock opened at $20.94 on Wednesday. The company has a 50 day moving average of $21.76 and a two-hundred day moving average of $23.12. The company has a market cap of $14.23 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 2.78 and a beta of 1.53. Kimco Realty has a 12-month low of $17.57 and a 12-month high of $25.83. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78.

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

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, March 7th. This represents a $1.00 dividend on an annualized basis and a yield of 4.78%. Kimco Realty’s dividend payout ratio is 178.57%.

Hedge Funds Weigh In On Kimco Realty

Institutional investors and hedge funds have recently bought and sold shares of the business. Fairtree Asset Management Pty Ltd bought a new position in shares of Kimco Realty in the fourth quarter valued at about $786,000. 111 Capital acquired a new position in shares of Kimco Realty during the fourth quarter worth approximately $287,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Kimco Realty in the fourth quarter valued at approximately $5,061,000. Phocas Financial Corp. bought a new position in Kimco Realty in the 4th quarter worth approximately $211,000. Finally, Siemens Fonds Invest GmbH acquired a new position in Kimco Realty during the 4th quarter worth $131,000. Institutional investors and hedge funds 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.