Kimco Realty (NYSE:KIM) Hits New 52-Week High – What’s Next?

Kimco Realty Corp (NYSE:KIM) shares reached a new 52-week high on Wednesday . The company traded as high as $25.70 and last traded at $25.64, with a volume of 433478 shares changing hands. The stock had previously closed at $25.46.

Wall Street Analyst Weigh In

KIM has been the subject of several analyst reports. Raymond James upgraded shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research note on Friday, August 16th. Evercore ISI upped their target price on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a report on Monday, September 16th. UBS Group increased their price target on Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Robert W. Baird boosted their price objective on Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Scotiabank upped their price objective on Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a research note on Monday. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Kimco Realty presently has an average rating of “Moderate Buy” and a consensus target price of $24.33.

Kimco Realty Stock Performance

The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a market capitalization of $17.38 billion, a PE ratio of 46.87, a P/E/G ratio of 3.34 and a beta of 1.50. The company’s fifty day simple moving average is $24.10 and its 200 day simple moving average is $21.94.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.22). The business had revenue of $507.63 million during the quarter, compared to the consensus estimate of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period last year, the firm earned $0.40 EPS. As a group, equities research analysts expect that Kimco Realty Corp will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.25 dividend. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Thursday, December 5th. Kimco Realty’s dividend payout ratio (DPR) is presently 174.55%.

Institutional Trading of Kimco Realty

A number of hedge funds and other institutional investors have recently made changes to their positions in KIM. Catalyst Capital Advisors LLC bought a new position in Kimco Realty in the 3rd quarter worth about $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kimco Realty in the third quarter worth about $31,000. Brooklyn Investment Group bought a new position in shares of Kimco Realty in the third quarter valued at approximately $37,000. Blue Trust Inc. boosted its position in shares of 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 during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Kimco Realty by 52.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 773 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors.

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.