Evercore ISI Issues Pessimistic Forecast for Kimco Realty (NYSE:KIM) Stock Price

Kimco Realty (NYSE:KIM) had its price objective lowered by equities researchers at Evercore ISI from $24.00 to $23.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price would indicate a potential downside of 2.62% from the company’s previous close.

Several other brokerages also recently commented on KIM. Compass Point upped their price objective on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Mizuho raised their price target on shares of Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Robert W. Baird boosted their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company lifted their price target on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Ten research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.83.

Kimco Realty Trading Up 0.8 %

Shares of KIM stock opened at $23.62 on Tuesday. The stock’s 50-day moving average price is $24.56 and its 200-day moving average price is $22.68. Kimco Realty has a 12-month low of $17.57 and a 12-month high of $25.83. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 42.95, a price-to-earnings-growth ratio of 3.20 and a beta of 1.50. 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 (NYSE:KIM) last issued its quarterly earnings data 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 firm had revenue of $507.63 million for the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. Equities research analysts predict that Kimco Realty will post 1.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Kimco Realty by 2.0% in the third quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock worth $1,048,797,000 after acquiring an additional 882,047 shares in the last quarter. FMR LLC boosted its stake in Kimco Realty by 6.1% in the 3rd quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock worth $518,733,000 after purchasing an additional 1,283,352 shares in the last quarter. Geode Capital Management LLC boosted its stake in Kimco Realty by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 17,215,209 shares of the real estate investment trust’s stock worth $398,468,000 after purchasing an additional 53,378 shares in the last quarter. APG Asset Management US Inc. grew its position in Kimco Realty by 1.6% during the 2nd quarter. APG Asset Management US Inc. now owns 14,953,570 shares of the real estate investment trust’s stock worth $288,155,000 after purchasing an additional 240,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Kimco Realty by 11.7% during 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 purchasing an additional 1,193,600 shares in the last quarter. 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.