Scotiabank Raises Kimco Realty (NYSE:KIM) Price Target to $26.00

Kimco Realty (NYSE:KIM) had its target price hoisted by Scotiabank from $23.00 to $26.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would indicate a potential upside of 2.12% from the company’s current price.

KIM has been the subject of a number of other reports. Truist Financial raised their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. Raymond James upgraded Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a research note on Friday, August 16th. Mizuho cut Kimco Realty from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $20.00 to $23.00 in a report on Monday, August 19th. Finally, UBS Group boosted their price target on Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.33.

Kimco Realty Trading Down 0.3 %

Shares of KIM opened at $25.46 on Monday. The stock’s 50-day moving average price is $24.00 and its 200 day moving average price is $21.88. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $17.16 billion, a price-to-earnings ratio of 46.29, a P/E/G ratio of 3.32 and a beta of 1.50. Kimco Realty has a 12-month low of $17.57 and a 12-month high of $25.58.

Kimco Realty (NYSE:KIM) last released its quarterly earnings data 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). The firm had revenue of $507.63 million for 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 quarter in the prior year, the firm posted $0.40 earnings per share. As a group, research analysts predict that Kimco Realty will post 1.64 earnings per share for the current year.

Hedge Funds Weigh In On Kimco Realty

Institutional investors have recently modified their holdings of the stock. Synovus Financial Corp grew its stake in shares of Kimco Realty by 6.2% during the third quarter. Synovus Financial Corp now owns 42,579 shares of the real estate investment trust’s stock valued at $989,000 after purchasing an additional 2,476 shares during the last quarter. Tidal Investments LLC boosted its position in Kimco Realty by 17.9% in the 3rd quarter. Tidal Investments LLC now owns 35,999 shares of the real estate investment trust’s stock valued at $836,000 after buying an additional 5,466 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kimco Realty in the 3rd quarter valued at $31,000. World Investment Advisors LLC bought a new stake in shares of Kimco Realty during the third quarter worth $269,000. Finally, Sanctuary Advisors LLC lifted its stake in shares of Kimco Realty by 145.4% during the third quarter. Sanctuary Advisors LLC now owns 36,604 shares of the real estate investment trust’s stock valued at $929,000 after acquiring an additional 21,690 shares during the period. 89.25% of the stock is owned by 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.