Kimco Realty (NYSE:KIM) Given New $26.00 Price Target at Robert W. Baird

Kimco Realty (NYSE:KIM) had its target price raised by Robert W. Baird from $23.00 to $26.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

Several other research analysts have also issued reports on the company. Piper Sandler restated an “overweight” rating and set a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. The Goldman Sachs Group boosted 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. Argus upgraded Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Wells Fargo & Company boosted their price target on Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Finally, UBS Group boosted their price target on Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.14.

Kimco Realty Trading Down 0.4 %

Shares of KIM stock opened at $24.72 on Tuesday. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 44.95, a price-to-earnings-growth ratio of 3.28 and a beta of 1.50. Kimco Realty has a 12-month low of $17.57 and a 12-month high of $25.19. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The stock’s 50-day moving average price is $23.70 and its 200-day moving average price is $21.47.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results 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). The company had revenue of $507.63 million during the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The company’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.40 EPS. Equities research analysts predict that Kimco Realty will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.25 per share. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Thursday, December 5th. Kimco Realty’s dividend payout ratio is presently 174.55%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors raised its holdings in Kimco Realty by 3.4% in the 3rd quarter. Captrust Financial Advisors now owns 14,657 shares of the real estate investment trust’s stock valued at $340,000 after acquiring an additional 482 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Kimco Realty by 1.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 42,782 shares of the real estate investment trust’s stock worth $816,000 after purchasing an additional 522 shares during the period. CWM LLC boosted its position in shares of Kimco Realty by 4.7% during the 3rd quarter. CWM LLC now owns 13,323 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 595 shares during the period. Cascade Investment Advisors Inc. boosted its position in shares of Kimco Realty by 1.1% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 57,045 shares of the real estate investment trust’s stock worth $1,110,000 after purchasing an additional 640 shares during the period. Finally, Checchi Capital Advisers LLC boosted its position in Kimco Realty by 5.0% in the 2nd quarter. Checchi Capital Advisers LLC now owns 14,026 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 663 shares during the period. Institutional investors and hedge funds own 89.25% of the company’s stock.

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.