Wells Fargo & Company Has Lowered Expectations for Kimco Realty (NYSE:KIM) Stock Price

Kimco Realty (NYSE:KIM) had its target price cut by stock analysts at Wells Fargo & Company from $24.00 to $23.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 9.49% from the stock’s current price.

KIM has been the subject of several other research reports. Citigroup decreased their target price on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Jefferies Financial Group downgraded Kimco Realty from a “buy” rating to a “hold” rating and lowered their target price for the company from $28.00 to $25.00 in a research note on Thursday, January 2nd. Scotiabank cut their price target on Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Finally, Mizuho cut their price objective on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Ten analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.43.

Kimco Realty Trading Down 1.0 %

KIM opened at $21.01 on Wednesday. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. Kimco Realty has a 52 week low of $17.57 and a 52 week high of $25.83. The business’s 50 day moving average is $21.79 and its two-hundred day moving average is $23.14. The firm has a market cap of $14.27 billion, a price-to-earnings ratio of 37.51, a price-to-earnings-growth ratio of 2.78 and a beta of 1.53.

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

Hedge Funds Weigh In On Kimco Realty

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

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.