Kimco Realty (NYSE:KIM) Price Target Lowered to $28.00 at Piper Sandler

Kimco Realty (NYSE:KIM) had its target price cut by Piper Sandler from $29.00 to $28.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other research firms have also recently commented on KIM. Citigroup reduced their price target on Kimco Realty from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Wells Fargo & Company dropped their price target on Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Mizuho cut their price target on Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Raymond James decreased their price objective on shares of Kimco Realty from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. cut their target price on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.68.

Kimco Realty Stock Performance

KIM opened at $20.70 on Monday. The business’s 50-day simple moving average is $20.65 and its 200 day simple moving average is $22.50. Kimco Realty has a 52-week low of $17.93 and a 52-week high of $25.83. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65. The firm has a market capitalization of $14.07 billion, a PE ratio of 36.96, a PEG ratio of 2.78 and a beta of 1.25.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. The company had revenue of $536.62 million for the quarter, compared to analysts’ expectations of $520.68 million. During the same quarter in the prior year, the business posted $0.39 EPS. The business’s revenue was up 965.3% compared to the same quarter last year. As a group, sell-side analysts expect that Kimco Realty will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.25 per share. 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 presently 178.57%.

Institutional Trading of Kimco Realty

A number of institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its position in Kimco Realty by 14.3% during the third quarter. Barclays PLC now owns 1,848,159 shares of the real estate investment trust’s stock worth $42,915,000 after purchasing an additional 231,606 shares during the period. World Investment Advisors LLC bought a new position in Kimco Realty in the 3rd quarter valued at about $269,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Kimco Realty in the 3rd quarter valued at approximately $31,000. Tidal Investments LLC lifted its holdings in shares of Kimco Realty by 17.9% during the 3rd quarter. Tidal Investments LLC now owns 35,999 shares of the real estate investment trust’s stock worth $836,000 after acquiring an additional 5,466 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Kimco Realty by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 56,244 shares of the real estate investment trust’s stock worth $1,319,000 after acquiring an additional 3,614 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Company Profile

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.