Kimco Realty (NYSE:KIM) Sets New 1-Year High on Analyst Upgrade

Kimco Realty Corporation (NYSE:KIM) shares hit a new 52-week high on Friday after Morgan Stanley raised their price target on the stock from $23.50 to $24.00. Morgan Stanley currently has an equal weight rating on the stock. Kimco Realty traded as high as $24.01 and last traded at $24.0350, with a volume of 571188 shares. The stock had previously closed at $23.75.

Other equities research analysts have also issued reports about the stock. Scotiabank boosted their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 24th. Weiss Ratings upgraded Kimco Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 5th. Mizuho set a $21.00 price objective on Kimco Realty in a report on Friday, January 9th. Truist Financial lifted their price objective on Kimco Realty from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, March 23rd. Finally, Piper Sandler lifted their price objective on Kimco Realty from $26.00 to $28.00 and gave the stock an “overweight” rating in a 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.73.

Institutional Trading of Kimco Realty

A number of institutional investors have recently modified their holdings of KIM. Quent Capital LLC purchased a new stake in shares of Kimco Realty during the third quarter worth about $27,000. Zions Bancorporation National Association UT boosted its holdings in shares of Kimco Realty by 270.4% during the fourth 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 during the period. City Holding Co. purchased a new stake in shares of Kimco Realty during the third quarter worth about $30,000. Brown Lisle Cummings Inc. boosted its holdings in shares of Kimco Realty by 127.3% during 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 period. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Kimco Realty during the second quarter worth about $37,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Trading Up 1.8%

The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $16.30 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 1.33 and a beta of 1.03. The stock’s fifty day moving average price is $22.94 and its two-hundred day moving average price is $21.53.

Kimco Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Friday, March 6th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, March 6th. Kimco Realty’s dividend payout ratio is currently 128.40%.

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.