Kimco Realty Corp (NYSE:KIM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Kimco Realty Corp (NYSE:KIM) has been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $23.55.

A number of brokerages have recently commented on KIM. Mizuho lowered Kimco Realty from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $20.00 to $23.00 in a report on Monday, August 19th. The Goldman Sachs Group upped their target price on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Robert W. Baird raised their price target on Kimco Realty from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Scotiabank increased their price objective on Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, Truist Financial boosted their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th.

Kimco Realty Price Performance

Shares of Kimco Realty stock opened at $23.09 on Wednesday. Kimco Realty has a 52 week low of $16.34 and a 52 week high of $24.25. The stock has a market cap of $15.57 billion, a PE ratio of 43.57, a price-to-earnings-growth ratio of 4.03 and a beta of 1.51. The company’s 50-day moving average price is $22.64 and its two-hundred day moving average price is $20.31. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72.

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

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.16%. Kimco Realty’s dividend payout ratio (DPR) is presently 181.13%.

Insiders Place Their Bets

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the stock in a transaction on 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 sale, the chief operating officer now owns 337,111 shares in the company, valued at $7,389,473.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Kimco Realty

Several large investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new position in Kimco Realty during the 1st quarter worth approximately $200,043,000. Vanguard Group Inc. raised its position in shares of Kimco Realty by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after purchasing an additional 7,931,013 shares during the last quarter. Centersquare Investment Management LLC raised its holdings in Kimco Realty by 76.8% in the first quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock worth $269,531,000 after buying an additional 6,282,891 shares during the last quarter. Cohen & Steers Inc. lifted its position in Kimco Realty by 7.3% in the 4th quarter. Cohen & Steers Inc. now owns 44,190,222 shares of the real estate investment trust’s stock valued at $941,817,000 after acquiring an additional 3,022,995 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Kimco Realty by 3,711.4% during the first quarter. Janus Henderson Group PLC now owns 2,828,917 shares of the real estate investment trust’s stock valued at $55,462,000 after buying an additional 2,754,695 shares during the last quarter. Institutional investors 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.