Kimco Realty (NYSE:KIM) had its target price dropped by investment analysts at Deutsche Bank from $21.00 to $20.00 in a report issued on Monday. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank’s price target would indicate a potential upside of 41.14% from the stock’s previous close.
A number of other research firms have also weighed in on KIM. BMO Capital Markets set a $19.00 price objective on shares of Kimco Realty and gave the stock a “hold” rating in a research note on Thursday, February 15th. Barclays cut their price objective on shares of Kimco Realty from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. Stifel Nicolaus began coverage on shares of Kimco Realty in a report on Thursday, November 30th. They set a “hold” rating and a $19.50 price target on the stock. Evercore ISI downgraded shares of Kimco Realty from an “in-line” rating to an “underperform” rating in a report on Monday, March 5th. Finally, Robert W. Baird downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $20.00 in a report on Monday, November 27th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.52.
Shares of Kimco Realty stock opened at $14.17 on Monday. The firm has a market cap of $6,186.12, a price-to-earnings ratio of 16.29, a PEG ratio of 2.99 and a beta of 0.50. Kimco Realty has a 52 week low of $13.70 and a 52 week high of $23.03. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.16.
Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.21). The business had revenue of $310.63 million during the quarter, compared to analyst estimates of $297.92 million. Kimco Realty had a return on equity of 7.85% and a net margin of 35.48%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. research analysts forecast that Kimco Realty will post 1.44 EPS for the current fiscal year.
Kimco Realty announced that its Board of Directors has initiated a share buyback program on Thursday, February 15th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other Kimco Realty news, Director Frank Lourenso sold 3,380 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $15.29, for a total transaction of $51,680.20. Following the transaction, the director now directly owns 182,481 shares of the company’s stock, valued at $2,790,134.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Kimco Realty by 9.5% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,617 shares of the real estate investment trust’s stock valued at $677,000 after purchasing an additional 2,994 shares in the last quarter. Cascade Investment Advisors Inc. lifted its holdings in Kimco Realty by 9.1% during the fourth quarter. Cascade Investment Advisors Inc. now owns 38,075 shares of the real estate investment trust’s stock valued at $691,000 after purchasing an additional 3,175 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Kimco Realty by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 652,182 shares of the real estate investment trust’s stock valued at $12,750,000 after purchasing an additional 3,299 shares in the last quarter. Norinchukin Bank The lifted its holdings in Kimco Realty by 15.1% during the third quarter. Norinchukin Bank The now owns 34,011 shares of the real estate investment trust’s stock valued at $665,000 after purchasing an additional 4,472 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. lifted its holdings in Kimco Realty by 1.2% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 371,941 shares of the real estate investment trust’s stock valued at $7,271,000 after purchasing an additional 4,544 shares in the last quarter. 90.58% of the stock is currently owned by institutional investors and hedge funds.
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About Kimco Realty
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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