Kimco Realty (NYSE:KIM) Lowered to Hold at Truist Financial

Truist Financial cut shares of Kimco Realty (NYSE:KIMGet Rating) from a buy rating to a hold rating in a report published on Tuesday morning, The Fly reports. They currently have $24.00 target price on the real estate investment trust’s stock, down from their previous target price of $25.00.

KIM has been the subject of several other reports. Evercore ISI reduced their target price on Kimco Realty from $24.00 to $23.00 in a research note on Tuesday, September 27th. StockNews.com upgraded Kimco Realty from a sell rating to a hold rating in a research note on Tuesday, January 10th. Piper Sandler reduced their target price on Kimco Realty from $25.00 to $23.00 and set an overweight rating for the company in a research note on Friday, October 7th. Citigroup boosted their price target on Kimco Realty from $23.00 to $26.00 in a research note on Wednesday, December 14th. Finally, Credit Suisse Group downgraded Kimco Realty from an outperform rating to a neutral rating and set a $22.00 price target for the company. in a research note on Monday, January 9th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kimco Realty currently has an average rating of Hold and an average target price of $23.25.

Kimco Realty Stock Up 2.8 %

NYSE:KIM opened at $21.95 on Tuesday. Kimco Realty has a twelve month low of $17.71 and a twelve month high of $26.57. The stock’s 50 day moving average price is $21.71 and its two-hundred day moving average price is $21.09. The firm has a market capitalization of $13.58 billion, a price-to-earnings ratio of 59.32, a price-to-earnings-growth ratio of 1.71 and a beta of 1.40.

Kimco Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 23rd. Shareholders of record on Friday, December 9th were issued a $0.23 dividend. The ex-dividend date of this dividend was Thursday, December 8th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 4.19%. Kimco Realty’s payout ratio is currently 248.65%.

Hedge Funds Weigh In On Kimco Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clear Street Markets LLC raised its holdings in shares of Kimco Realty by 129.5% during the 2nd quarter. Clear Street Markets LLC now owns 1,290 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 728 shares in the last quarter. Addison Advisors LLC raised its holdings in shares of Kimco Realty by 13,836.4% during the 2nd quarter. Addison Advisors LLC now owns 1,533 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 1,522 shares in the last quarter. Ronald Blue Trust Inc. raised its holdings in shares of Kimco Realty by 58.5% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,812 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 669 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Kimco Realty during the 3rd quarter worth $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Kimco Realty during the 2nd quarter worth $43,000. 92.33% of the stock is 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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