Kimco Realty (NYSE:KIM) Price Target Cut to $23.00 by Analysts at Evercore ISI

Kimco Realty (NYSE:KIM) had its target price lowered by equities research analysts at Evercore ISI from $24.00 to $23.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target would suggest a potential downside of 1.84% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. The Goldman Sachs Group upped their target price on Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Robert W. Baird boosted their price target on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Wells Fargo & Company raised their price objective on Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Finally, UBS Group increased their price target on shares of Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.83.

Kimco Realty Price Performance

NYSE KIM opened at $23.43 on Tuesday. The firm’s fifty day simple moving average is $24.57 and its two-hundred day simple moving average is $22.64. The firm has a market capitalization of $15.79 billion, a P/E ratio of 42.60, a P/E/G ratio of 3.20 and a beta of 1.50. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. Kimco Realty has a 12-month low of $17.57 and a 12-month high of $25.83.

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

Institutional Investors Weigh In On Kimco Realty

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in Kimco Realty by 2.0% during the third quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock worth $1,048,797,000 after acquiring an additional 882,047 shares during the period. FMR LLC lifted its stake in Kimco Realty by 6.1% in the 3rd quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock valued at $518,733,000 after buying an additional 1,283,352 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Kimco Realty by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 17,215,209 shares of the real estate investment trust’s stock worth $398,468,000 after buying an additional 53,378 shares during the last quarter. APG Asset Management US Inc. raised its holdings in shares of Kimco Realty by 1.6% during the second quarter. APG Asset Management US Inc. now owns 14,953,570 shares of the real estate investment trust’s stock valued at $288,155,000 after acquiring an additional 240,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Kimco Realty by 11.7% in the second quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock valued at $221,740,000 after acquiring an additional 1,193,600 shares in the last quarter. 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.