Kimco Realty (NYSE:KIM) Given New $24.00 Price Target at Morgan Stanley

Kimco Realty (NYSE:KIM) had its price objective lifted by investment analysts at Morgan Stanley from $23.50 to $24.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s target price points to a potential upside of 1.99% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Wall Street Zen upgraded Kimco Realty from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Truist Financial lifted their target price on Kimco Realty from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Monday, March 23rd. Barclays reiterated an “overweight” rating and set a $25.00 target price on shares of Kimco Realty in a research report on Tuesday, January 13th. Scotiabank boosted their price objective on Kimco Realty from $22.00 to $24.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Kimco Realty from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Kimco Realty presently has an average rating of “Moderate Buy” and an average price target of $24.73.

Kimco Realty Stock Performance

NYSE KIM traded up $0.05 on Thursday, hitting $23.53. 2,141,589 shares of the company traded hands, compared to its average volume of 5,720,637. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of 29.06, a P/E/G ratio of 1.32 and a beta of 1.03. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average price is $22.85 and its 200-day moving average price is $21.50. Kimco Realty has a 52-week low of $19.59 and a 52-week high of $23.91.

Hedge Funds Weigh In On Kimco Realty

Large investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Kimco Realty in the fourth quarter worth about $215,615,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Kimco Realty by 541.6% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,304,639 shares of the real estate investment trust’s stock valued at $137,756,000 after purchasing an additional 5,322,009 shares during the period. Invesco Ltd. raised its position in Kimco Realty by 34.9% during the fourth quarter. Invesco Ltd. now owns 17,016,898 shares of the real estate investment trust’s stock valued at $344,933,000 after purchasing an additional 4,399,959 shares during the period. SG Americas Securities LLC raised its position in Kimco Realty by 10,776.5% during the fourth quarter. SG Americas Securities LLC now owns 2,425,889 shares of the real estate investment trust’s stock valued at $49,173,000 after purchasing an additional 2,403,585 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in Kimco Realty by 200.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,574,515 shares of the real estate investment trust’s stock valued at $72,455,000 after purchasing an additional 2,383,236 shares during the period. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Company Profile

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.