Kimco Realty (NYSE:KIM) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Kimco Realty (NYSE:KIM – Get Rating) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

A number of other research firms have also recently issued reports on KIM. Mizuho upped their price objective on shares of Kimco Realty from $26.00 to $27.00 in a research report on Thursday, January 20th. Argus upgraded shares of Kimco Realty from a hold rating to a buy rating and set a $27.00 price objective for the company in a research report on Wednesday, January 5th. Truist Financial upped their price objective on shares of Kimco Realty from $25.00 to $27.00 and gave the stock a buy rating in a research report on Friday, December 10th. Morgan Stanley cut shares of Kimco Realty from an overweight rating to an equal weight rating and upped their price objective for the stock from $26.00 to $26.50 in a research report on Wednesday, March 30th. Finally, Jefferies Financial Group upgraded shares of Kimco Realty from a hold rating to a buy rating and upped their price objective for the stock from $24.00 to $29.00 in a research report on Monday, January 10th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $26.10.

Shares of NYSE:KIM opened at $24.35 on Friday. The firm has a 50 day moving average of $24.01 and a 200-day moving average of $23.59. The stock has a market capitalization of $15.05 billion, a PE ratio of 15.31, a PEG ratio of 1.93 and a beta of 1.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.74. Kimco Realty has a 12 month low of $19.07 and a 12 month high of $25.62.

Kimco Realty (NYSE:KIM – Get Rating) last issued its earnings results on Thursday, February 10th. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). The firm had revenue of $424.65 million during the quarter, compared to analyst estimates of $375.81 million. Kimco Realty had a net margin of 61.39% and a return on equity of 10.55%. Kimco Realty’s quarterly revenue was up 57.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 earnings per share. On average, research analysts predict that Kimco Realty will post 1.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 24th. Stockholders of record on Thursday, March 10th were paid a $0.19 dividend. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Wednesday, March 9th. Kimco Realty’s dividend payout ratio is currently 47.80%.

In other news, Director Frank Lourenso sold 8,188 shares of the company’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $23.45, for a total value of $192,008.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stonebridge Capital Advisors LLC boosted its stake in Kimco Realty by 117.3% during the third quarter. Stonebridge Capital Advisors LLC now owns 1,304 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 704 shares in the last quarter. Dark Forest Capital Management LP bought a new position in Kimco Realty during the third quarter worth $30,000. MUFG Americas Holdings Corp boosted its stake in Kimco Realty by 43.2% during the third quarter. MUFG Americas Holdings Corp now owns 1,432 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 432 shares in the last quarter. US Asset Management LLC bought a new position in Kimco Realty during the third quarter worth $31,000. Finally, Allworth Financial LP boosted its stake in Kimco Realty by 53.4% during the third quarter. Allworth Financial LP now owns 1,566 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 545 shares in the last quarter. 90.11% of the stock is currently owned by institutional investors and hedge funds.

About Kimco Realty (Get Rating)

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.

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