Kimco Realty Corp (NYSE:KIM) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Kimco Realty Corp (NYSE:KIM) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $24.50.

A number of brokerages recently issued reports on KIM. Wells Fargo & Company increased their price target on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Compass Point increased their target price on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Robert W. Baird lifted their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Finally, Scotiabank increased their target price on Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a report on Monday, November 25th.

Hedge Funds Weigh In On Kimco Realty

Hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Kimco Realty by 842.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,262,687 shares of the real estate investment trust’s stock worth $145,420,000 after purchasing an additional 5,598,091 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Kimco Realty by 43.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,943,646 shares of the real estate investment trust’s stock worth $154,583,000 after buying an additional 2,400,752 shares in the last quarter. FMR LLC raised its stake in shares of Kimco Realty by 6.1% during the 3rd quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock worth $518,733,000 after buying an additional 1,283,352 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Kimco Realty by 11.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock valued at $221,740,000 after buying an additional 1,193,600 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Kimco Realty by 71.5% in the second quarter. Sei Investments Co. now owns 2,792,649 shares of the real estate investment trust’s stock valued at $54,345,000 after buying an additional 1,164,029 shares in the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Stock Up 0.4 %

NYSE:KIM opened at $25.19 on Monday. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. Kimco Realty has a twelve month low of $17.57 and a twelve month high of $25.83. The company has a market cap of $16.98 billion, a PE ratio of 45.80, a P/E/G ratio of 3.31 and a beta of 1.50. The company’s 50 day moving average is $24.33 and its two-hundred day moving average is $22.23.

Kimco Realty (NYSE:KIM) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business had revenue of $507.63 million for the quarter, compared to analyst estimates of $502.78 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. Analysts anticipate that Kimco Realty will post 1.64 EPS for the current 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.97%. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s payout ratio is 174.55%.

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.