Bank of America upgraded shares of Kimco Realty (NYSE:KIM) from a neutral rating to a buy rating in a research note published on Tuesday, BenzingaRatingsTable reports. They currently have $21.00 price target on the real estate investment trust’s stock, up from their prior price target of $19.00.
A number of other equities research analysts also recently weighed in on the company. Evercore ISI downgraded Kimco Realty from an in-line rating to an underperform rating in a report on Monday, April 1st. They noted that the move was a valuation call. Raymond James downgraded Kimco Realty from an outperform rating to a market perform rating and set a $18.17 target price for the company. in a report on Tuesday, May 28th. Finally, Zacks Investment Research downgraded Kimco Realty from a hold rating to a sell rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $18.36.
Kimco Realty stock opened at $18.73 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $7.76 billion, a P/E ratio of 12.68, a P/E/G ratio of 3.02 and a beta of 0.57. Kimco Realty has a one year low of $14.29 and a one year high of $18.74.
Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.12). The company had revenue of $295.00 million during the quarter, compared to analyst estimates of $282.49 million. Kimco Realty had a return on equity of 8.37% and a net margin of 39.40%. Kimco Realty’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. Equities analysts predict that Kimco Realty will post 1.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a $0.28 dividend. The ex-dividend date is Monday, July 1st. This represents a $1.12 dividend on an annualized basis and a yield of 5.98%. Kimco Realty’s payout ratio is currently 77.24%.
In other news, COO David Jamieson sold 16,435 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $18.33, for a total transaction of $301,253.55. Following the completion of the sale, the chief operating officer now owns 94,211 shares in the company, valued at $1,726,887.63. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard B. Saltzman sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $18.39, for a total value of $101,145.00. Following the sale, the director now owns 81,335 shares of the company’s stock, valued at approximately $1,495,750.65. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KIM. Cresset Asset Management LLC bought a new stake in shares of Kimco Realty during the first quarter valued at approximately $25,000. Liberty Wealth Management LLC bought a new stake in shares of Kimco Realty during the fourth quarter valued at approximately $30,000. CSat Investment Advisory L.P. increased its holdings in shares of Kimco Realty by 35.2% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,176 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 566 shares in the last quarter. Legacy Bridge LLC bought a new stake in shares of Kimco Realty during the first quarter valued at approximately $43,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Kimco Realty by 1,347.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 670,838 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 624,480 shares in the last quarter. Hedge funds and other institutional investors own 90.06% 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.
Featured Article: How Do You Calculate Return on Investment (ROI)?
Receive News & Ratings for Kimco Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kimco Realty and related companies with MarketBeat.com's FREE daily email newsletter.