Brokerages Set Kimco Realty Corp (NYSE:KIM) PT at $24.50

Kimco Realty Corp (NYSE:KIM) has received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $24.50.

Several research analysts have issued reports on KIM shares. Scotiabank dropped their target price on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. dropped their target price on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Jefferies Financial Group cut shares of Kimco Realty from a “buy” rating to a “hold” rating and dropped their target price for the stock from $28.00 to $25.00 in a report on Thursday, January 2nd. Wells Fargo & Company dropped their target price on shares of Kimco Realty from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, Mizuho dropped their target price on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th.

Kimco Realty Trading Down 0.6 %

NYSE KIM opened at $20.78 on Wednesday. The company’s 50-day moving average price is $21.86 and its 200-day moving average price is $23.19. The company has a current ratio of 3.65, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The stock has a market cap of $14.12 billion, a PE ratio of 37.10, a PEG ratio of 2.78 and a beta of 1.53. Kimco Realty has a 12 month low of $17.57 and a 12 month high of $25.83.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. Equities research analysts forecast that Kimco Realty will post 1.71 earnings per share for the current year.

Kimco Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.81%. The ex-dividend date was Friday, March 7th. Kimco Realty’s payout ratio is currently 178.57%.

Hedge Funds Weigh In On Kimco Realty

Several hedge funds and other institutional investors have recently modified their holdings of KIM. Summit Securities Group LLC purchased a new position in shares of Kimco Realty in the 4th quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Kimco Realty in the 3rd quarter valued at approximately $31,000. Brown Brothers Harriman & Co. raised its position in shares of Kimco Realty by 78.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 575 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Kimco Realty in the 3rd quarter valued at approximately $37,000. Finally, Headlands Technologies LLC purchased a new position in shares of Kimco Realty in the 4th quarter valued at approximately $45,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

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.