JPMorgan Chase & Co. Downgrades Kimco Realty (NYSE:KIM) to Neutral

Kimco Realty (NYSE:KIM) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have a $26.00 target price on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 11.02% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Truist Financial increased their target price on Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Evercore ISI boosted their price target on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Mizuho increased their price objective on Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Compass Point upped their target price on shares of Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.83.

Kimco Realty Price Performance

Shares of NYSE:KIM opened at $23.42 on Friday. Kimco Realty has a 12 month low of $17.57 and a 12 month high of $25.83. The firm has a market capitalization of $15.79 billion, a price-to-earnings ratio of 42.58, a price-to-earnings-growth ratio of 3.20 and a beta of 1.50. The business’s 50 day simple moving average is $24.57 and its 200-day simple moving average is $22.59. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59.

Kimco Realty (NYSE:KIM) last posted 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 net margin of 19.58% and a return on equity of 3.68%. The firm had revenue of $507.63 million during the quarter, compared to analyst estimates of $502.78 million. During the same period last year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities analysts forecast that Kimco Realty will post 1.64 earnings per share for the current fiscal year.

Institutional Trading of Kimco Realty

Institutional investors have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC acquired a new position in shares of Kimco Realty during the third quarter worth about $25,000. Wilmington Savings Fund Society FSB acquired a new position in Kimco Realty during the 3rd quarter worth approximately $31,000. Brooklyn Investment Group purchased a new position in Kimco Realty in the 3rd quarter worth approximately $37,000. Blue Trust Inc. grew its position in Kimco Realty by 613.5% in the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 1,816 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Kimco Realty during the third quarter valued at approximately $51,000. 89.25% of the stock is owned by hedge funds and other 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.