Kimco Realty (NYSE:KIM) Sets New 12-Month High After Analyst Upgrade

Kimco Realty Corp (NYSE:KIM) reached a new 52-week high on Wednesday after Compass Point raised their price target on the stock from $25.00 to $28.00. Compass Point currently has a buy rating on the stock. Kimco Realty traded as high as $23.57 and last traded at $23.55, with a volume of 1474045 shares changing hands. The stock had previously closed at $23.37.

Several other research firms also recently commented on KIM. Evercore ISI boosted their price target on shares of Kimco Realty from $21.00 to $22.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Argus raised Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Scotiabank upped their price objective on Kimco Realty from $21.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Wells Fargo & Company lifted their target price on Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Finally, Mizuho lowered shares of Kimco Realty from an “outperform” rating to a “neutral” rating and increased their price target for the company from $20.00 to $23.00 in a research report on Monday, August 19th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.55.

Insider Activity at Kimco Realty

In related news, COO David Jamieson sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the sale, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Kimco Realty

A number of large investors have recently modified their holdings of KIM. Victory Capital Management Inc. grew its stake in shares of Kimco Realty by 19.5% during the fourth quarter. Victory Capital Management Inc. now owns 127,779 shares of the real estate investment trust’s stock worth $2,723,000 after purchasing an additional 20,828 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Kimco Realty during the 4th quarter worth about $29,000. AGF Management Ltd. increased its holdings in shares of Kimco Realty by 7.4% in the 4th quarter. AGF Management Ltd. now owns 44,134 shares of the real estate investment trust’s stock valued at $940,000 after acquiring an additional 3,032 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Kimco Realty by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,194,513 shares of the real estate investment trust’s stock worth $195,942,000 after acquiring an additional 24,036 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Kimco Realty by 21.8% during the fourth quarter. Principal Financial Group Inc. now owns 1,145,255 shares of the real estate investment trust’s stock worth $24,405,000 after purchasing an additional 205,090 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Price Performance

The stock has a 50-day moving average price of $21.77 and a 200 day moving average price of $19.92. The firm has a market cap of $15.86 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 3.92 and a beta of 1.51. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 1.73.

Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The company had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 EPS. As a group, equities research analysts forecast that Kimco Realty Corp will post 1.62 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.96 annualized dividend and a yield of 4.08%. Kimco Realty’s dividend payout ratio is presently 181.13%.

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.