Kimco Realty (NYSE:KIM) Given New $28.00 Price Target at Piper Sandler

Kimco Realty (NYSE:KIM) had its price objective hoisted by Piper Sandler from $26.00 to $28.00 in a report released on Tuesday, Marketbeat Ratings reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

A number of other research analysts also recently issued reports on the stock. Morgan Stanley set a $23.50 price target on shares of Kimco Realty in a research report on Monday, January 5th. Citigroup dropped their target price on shares of Kimco Realty from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, December 3rd. Scotiabank decreased their price target on Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating for the company in a report on Thursday, November 13th. Barclays reissued an “overweight” rating and issued a $25.00 price objective on shares of Kimco Realty in a research note on Tuesday, January 13th. Finally, Mizuho set a $21.00 target price on Kimco Realty in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.18.

Kimco Realty Stock Up 2.0%

Shares of NYSE:KIM opened at $23.16 on Tuesday. The business has a fifty day simple moving average of $20.85 and a 200 day simple moving average of $21.17. Kimco Realty has a 12-month low of $17.93 and a 12-month high of $23.22. The firm has a market cap of $15.68 billion, a P/E ratio of 28.59, a P/E/G ratio of 1.23 and a beta of 1.07. The company has a quick ratio of 3.59, a current ratio of 3.31 and a debt-to-equity ratio of 0.78.

Kimco Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Friday, March 6th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, March 6th. Kimco Realty’s payout ratio is 128.40%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in KIM. Quent Capital LLC acquired a new stake in shares of Kimco Realty in the 3rd quarter worth about $27,000. Zions Bancorporation National Association UT boosted its stake in Kimco Realty by 270.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 1,437 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 1,049 shares during the last quarter. City Holding Co. bought a new stake in Kimco Realty during the 3rd quarter worth approximately $30,000. Brown Lisle Cummings Inc. raised its stake in shares of Kimco Realty by 127.3% in the fourth quarter. Brown Lisle Cummings Inc. now owns 1,500 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 840 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Kimco Realty in the second quarter worth approximately $37,000. 89.25% of the stock is owned by institutional investors.

Kimco Realty Company Profile

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.