Kimco Realty (NYSE:KIM) Price Target Lowered to $26.00 at Raymond James

Kimco Realty (NYSE:KIM) had its target price cut by Raymond James from $28.00 to $26.00 in a report released on Monday morning,Benzinga reports. They currently have a strong-buy rating on the real estate investment trust’s stock.

Several other research analysts have also recently issued reports on KIM. Mizuho cut their target price on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Citigroup cut their price target on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Scotiabank lowered their price objective on shares of Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. cut their target price on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company lowered their price target on Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Kimco Realty presently has an average rating of “Moderate Buy” and an average price target of $24.68.

Kimco Realty Price Performance

Shares of NYSE:KIM opened at $20.70 on Monday. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. The stock has a market cap of $14.07 billion, a PE ratio of 36.96, a PEG ratio of 2.78 and a beta of 1.25. The company’s fifty day moving average is $20.65 and its 200 day moving average is $22.50. Kimco Realty has a 52 week low of $17.93 and a 52 week high of $25.83.

Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $536.62 million for the quarter, compared to the consensus estimate of $520.68 million. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. The company’s quarterly revenue was up 965.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. Research analysts anticipate that Kimco Realty will post 1.71 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, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.25 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 4.83%. Kimco Realty’s dividend payout ratio (DPR) is 178.57%.

Institutional Trading of Kimco Realty

Hedge funds have recently modified their holdings of the business. Summit Securities Group LLC purchased a new position in Kimco Realty during the 4th quarter valued at about $26,000. Brown Brothers Harriman & Co. grew its holdings in Kimco Realty by 78.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 575 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Kimco Realty during the third quarter valued at approximately $31,000. Golden State Wealth Management LLC lifted its holdings in shares of Kimco Realty by 177.6% during the first quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 911 shares during the last quarter. Finally, WASHINGTON TRUST Co bought a new stake in shares of Kimco Realty in the 1st quarter worth approximately $34,000. 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.