Kimco Realty (NYSE:KIM) Price Target Raised to $24.00 at Truist Financial

Kimco Realty (NYSE:KIM) had its price objective hoisted by Truist Financial from $22.00 to $24.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

Other analysts also recently issued reports about the company. Piper Sandler restated an overweight rating and issued a $29.00 price target (up from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Raymond James raised shares of Kimco Realty from a market perform rating to a strong-buy rating and set a $25.00 price target on the stock in a research note on Friday, August 16th. Scotiabank raised their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the company a sector perform rating in a research note on Monday. Evercore ISI boosted their price objective on shares of Kimco Realty from $21.00 to $22.00 and gave the stock an in-line rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their price target on shares of Kimco Realty from $21.00 to $24.00 and gave the company an equal weight rating in a research report on Wednesday. Nine analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $23.21.

Kimco Realty Stock Performance

NYSE:KIM opened at $23.16 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 1.86. The firm has a market cap of $15.61 billion, a price-to-earnings ratio of 43.70, a price-to-earnings-growth ratio of 4.23 and a beta of 1.51. The firm’s fifty day moving average price is $21.02 and its 200 day moving average price is $19.69. Kimco Realty has a 1-year low of $16.34 and a 1-year high of $23.53.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The firm had revenue of $500.20 million for the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 earnings per share. On average, sell-side analysts expect that Kimco Realty will post 1.6 EPS for the current year.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Thursday, September 5th. Kimco Realty’s dividend payout ratio is presently 181.13%.

Insider Activity at Kimco Realty

In other news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the sale, the chief operating officer now directly owns 337,111 shares in the company, valued at $7,389,473.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kimco Realty

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board acquired a new stake in Kimco Realty in the 1st quarter worth about $200,043,000. Vanguard Group Inc. boosted its position in shares of Kimco Realty by 7.7% in the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after acquiring an additional 7,931,013 shares during the last quarter. Norges Bank purchased a new stake in Kimco Realty in the fourth quarter valued at approximately $150,326,000. Centersquare Investment Management LLC increased its position in Kimco Realty by 76.8% during the first quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock worth $269,531,000 after purchasing an additional 6,282,891 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in Kimco Realty during the fourth quarter worth approximately $84,678,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

About Kimco Realty

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.