Piper Sandler Has Lowered Expectations for Kimco Realty (NYSE:KIM) Stock Price

Kimco Realty (NYSE:KIM) had its target price cut by investment analysts at Piper Sandler from $28.00 to $26.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s target price would indicate a potential upside of 22.07% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Raymond James Financial lowered their price target 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, May 5th. Wall Street Zen upgraded shares of Kimco Realty from a “sell” rating to a “hold” rating in a report on Saturday. Scotiabank lowered their price target on shares of Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. Finally, Barclays assumed coverage on shares of Kimco Realty in a research report on Wednesday, July 2nd. They issued an “overweight” rating and a $25.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.57.

Kimco Realty Stock Up 1.2%

NYSE:KIM opened at $21.30 on Monday. Kimco Realty has a fifty-two week low of $17.93 and a fifty-two week high of $25.83. The stock has a market capitalization of $14.42 billion, a P/E ratio of 25.66, a P/E/G ratio of 1.54 and a beta of 1.31. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.47 and a current ratio of 3.92. The company’s 50-day simple moving average is $21.27 and its 200-day simple moving average is $21.21.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The business had revenue of $525.18 million for the quarter, compared to analysts’ expectations of $524.75 million. During the same period last year, the business earned $0.41 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. On average, equities analysts anticipate that Kimco Realty will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kimco Realty

Institutional investors have recently bought and sold shares of the business. Trust Co. of Toledo NA OH purchased a new position in Kimco Realty during the 2nd quarter worth approximately $27,000. AlphaQuest LLC purchased a new position in Kimco Realty during the 1st quarter worth approximately $29,000. Keystone Global Partners LLC purchased a new position in Kimco Realty during the 1st quarter worth approximately $30,000. Golden State Wealth Management LLC increased its holdings in shares of Kimco Realty by 177.6% during the 1st 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 in the last quarter. Finally, WASHINGTON TRUST Co purchased a new position in shares of Kimco Realty during the 1st quarter valued at approximately $34,000. 89.25% of the stock is owned by hedge funds and other 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.