Kimco Realty (NYSE:KIM) Price Target Raised to $30.00

Kimco Realty (NYSE:KIM – Free Report) had its price objective increased by Piper Sandler from $27.00 to $30.00 in a research report sent to investors on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently weighed in on the company. Weiss Ratings cut Kimco Realty from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. raised their price target on Kimco Realty from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, August 25th. Citigroup lifted their price objective on shares of Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Mizuho decreased their price objective on shares of Kimco Realty from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, September 24th. Finally, Truist Financial assumed coverage on shares of Kimco Realty in a research report on Thursday, October 1st. They issued a “hold” rating and a $24.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.88.

View Our Latest Stock Analysis on Kimco Realty

Kimco Realty Trading Up 3.6%

Kimco Realty stock opened at $25.89 on Monday. Kimco Realty has a 52 week low of $19.76 and a 52 week high of $26.65. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.81 and a current ratio of 3.81. The stock has a market capitalization of $17.21 billion, a P/E ratio of 13.66, a PEG ratio of 2.83 and a beta of 0.91. The stock has a 50-day simple moving average of $23.13 and a 200 day simple moving average of $23.57.

Kimco Realty (NYSE:KIM – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. Kimco Realty had a return on equity of 7.16% and a net margin of 34.06%. The firm had revenue of $546.15 million for the quarter, compared to analyst estimates of $549.06 million. During the same quarter in the prior year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts expect that Kimco Realty will post 1.85 earnings per share for the current year.

Kimco Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, December 4th. Kimco Realty’s payout ratio is currently 104.67%.

Hedge Funds Weigh In On Kimco Realty

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Kimco Realty during the 2nd quarter worth approximately $1,895,765,000. Dimensional Fund Advisors LP lifted its position in shares of Kimco Realty by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,341,105 shares of the real estate investment trust’s stock worth $232,363,000 after buying an additional 152,242 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Kimco Realty during the 2nd quarter worth $235,111,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Kimco Realty by 7,715.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,304,565 shares of the real estate investment trust’s stock valued at $159,821,000 after buying an additional 6,223,902 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in Kimco Realty in the second quarter valued at about $156,283,000. Institutional investors and hedge funds own 89.25% of the company’s stock.

About Kimco Realty

(Get Free Report)

Kimco Realty Corporation is a real estate investment trust that owns, operates and develops open-air, grocery-anchored shopping centers and mixed-use properties in the United States. Its properties are designed to serve everyday consumer needs and typically include grocery stores, restaurants, service businesses, retailers and other essential tenants.

The company’s portfolio is concentrated in major metropolitan areas and high-density communities, with a focus on locations that offer convenient access, strong surrounding demographics and complementary tenant mixes.

Further Reading

Analyst Recommendations for Kimco Realty (NYSE:KIM)

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