Analysts Set Kimco Realty Corp (NYSE:KIM) Price Target at $24.75

Shares of Kimco Realty Corp (NYSE:KIM) have received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $24.75.

Several brokerages have recently issued reports on KIM. Jefferies Financial Group downgraded shares of Kimco Realty from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $28.00 to $25.00 in a research report on Thursday, January 2nd. Evercore ISI dropped their target price on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. Wells Fargo & Company decreased their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price target on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Finally, Citigroup decreased their target price on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th.

Hedge Funds Weigh In On Kimco Realty

A number of hedge funds and other institutional investors have recently made changes to their positions in KIM. Summit Securities Group LLC acquired a new stake in Kimco Realty during the 4th quarter worth about $26,000. Wilmington Savings Fund Society FSB bought a new position in Kimco Realty in the 3rd quarter valued at about $31,000. Brown Brothers Harriman & Co. grew its holdings 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 buying an additional 575 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Kimco Realty in the fourth quarter valued at about $45,000. Finally, Sentry Investment Management LLC bought a new position in shares of Kimco Realty during the 1st quarter worth approximately $45,000. 89.25% of the stock is owned by institutional investors and hedge funds.

Kimco Realty Trading Up 0.1 %

KIM opened at $20.31 on Friday. The firm has a 50 day simple moving average of $21.05 and a 200 day simple moving average of $22.79. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59. The company has a market cap of $13.80 billion, a price-to-earnings ratio of 36.26, a price-to-earnings-growth ratio of 2.78 and a beta of 1.25. Kimco Realty has a fifty-two week low of $17.57 and a fifty-two week high of $25.83.

Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. On average, sell-side analysts anticipate that Kimco Realty will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.25 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.92%. Kimco Realty’s dividend payout ratio is 178.57%.

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.