Kimco Realty (NYSE:KIM) Price Target Raised to $24.00 at Morgan Stanley

Kimco Realty (NYSE:KIM) had its price target raised by Morgan Stanley from $23.50 to $24.00 in a research note published on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the real estate investment trust’s stock.

Several other brokerages also recently issued reports on KIM. Robert W. Baird set a $25.00 price objective on Kimco Realty in a research report on Friday, February 13th. Mizuho set a $21.00 price objective on Kimco Realty in a research report on Friday, January 9th. Barclays reiterated an “overweight” rating and issued a $25.00 price objective on shares of Kimco Realty in a research report on Tuesday, January 13th. UBS Group cut their price objective on Kimco Realty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, Piper Sandler lifted their price objective on Kimco Realty from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Kimco Realty presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.73.

Kimco Realty Stock Up 1.0%

Shares of NYSE KIM opened at $23.71 on Thursday. The stock has a market cap of $15.99 billion, a PE ratio of 29.27, a PEG ratio of 1.31 and a beta of 1.03. The business has a fifty day moving average of $22.89 and a two-hundred day moving average of $21.51. Kimco Realty has a 52-week low of $19.59 and a 52-week high of $23.91. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.31 and a current ratio of 3.31.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Friday, March 6th were given a dividend of $0.26 per share. The ex-dividend date was Friday, March 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.4%. Kimco Realty’s payout ratio is presently 128.40%.

Institutional Investors Weigh In On Kimco Realty

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Kimco Realty by 59.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,247 shares of the real estate investment trust’s stock worth $2,351,000 after buying an additional 41,265 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Kimco Realty by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 639,985 shares of the real estate investment trust’s stock valued at $13,593,000 after purchasing an additional 38,554 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in Kimco Realty in the first quarter valued at about $61,000. Quantbot Technologies LP acquired a new position in Kimco Realty in the second quarter valued at about $331,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Kimco Realty by 30.0% in the second quarter. EverSource Wealth Advisors LLC now owns 5,069 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 1,170 shares during the period. Institutional investors own 89.25% of the company’s stock.

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.