Kimco Realty (NYSE:KIM) Reaches New 12-Month High Following Analyst Upgrade

Kimco Realty Corporation (NYSE:KIM) shares hit a new 52-week high during mid-day trading on Tuesday after Piper Sandler raised their price target on the stock from $26.00 to $28.00. Piper Sandler currently has an overweight rating on the stock. Kimco Realty traded as high as $23.11 and last traded at $22.7830, with a volume of 179357 shares. The stock had previously closed at $22.71.

KIM has been the subject of a number of other reports. Wells Fargo & Company lowered their target price on Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, December 15th. Mizuho set a $21.00 price objective on shares of Kimco Realty in a research note on Friday, January 9th. UBS Group cut their target price on shares of Kimco Realty from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Truist Financial reduced their price target on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a report on Tuesday, January 20th. Finally, Wall Street Zen upgraded shares of Kimco Realty from a “sell” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Kimco Realty has a consensus rating of “Moderate Buy” and an average price target of $24.18.

Institutional Inflows and Outflows

A number of hedge funds 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 increased its holdings 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 worth $29,000 after purchasing an additional 1,049 shares in 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 bought a new position in shares of Kimco Realty in the second quarter valued at approximately $37,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Stock Performance

The company has a 50-day moving average of $20.85 and a 200-day moving average of $21.17. The company has a market cap of $15.68 billion, a PE ratio of 28.59, a PEG 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Friday, March 6th will be issued 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 of this dividend is Friday, March 6th. Kimco Realty’s payout ratio is currently 128.40%.

About Kimco Realty

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.