Kimco Realty (NYSE:KIM) Given New $22.00 Price Target at Truist Financial

Kimco Realty (NYSE:KIM) had its target price reduced by Truist Financial from $23.00 to $22.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

Several other analysts also recently commented on the stock. Wall Street Zen downgraded shares of Kimco Realty from a “hold” rating to a “sell” rating in a report on Sunday, December 28th. Citigroup cut their price objective on shares of Kimco Realty from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, December 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Kimco Realty in a report on Wednesday, October 8th. Scotiabank lowered their target price on Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 13th. Finally, Argus restated a “buy” rating and issued a $27.00 price target on shares of Kimco Realty in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.89.

Kimco Realty Stock Down 0.5%

Kimco Realty stock opened at $20.96 on Tuesday. The company has a 50 day moving average of $20.37 and a 200-day moving average of $21.18. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.77. Kimco Realty has a twelve month low of $17.93 and a twelve month high of $23.65. The stock has a market capitalization of $14.19 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $535.86 million during the quarter, compared to analysts’ expectations of $522.31 million. Kimco Realty had a net margin of 28.24% and a return on equity of 5.60%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the business earned $0.43 EPS. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. On average, equities research analysts anticipate that Kimco Realty will post 1.71 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.0%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, December 5th. Kimco Realty’s dividend payout ratio (DPR) is currently 125.30%.

Hedge Funds Weigh In On Kimco Realty

Several institutional investors and hedge funds have recently added to or reduced their stakes in KIM. Trust Co. of Toledo NA OH bought a new stake in shares of Kimco Realty during the second quarter worth $27,000. Quent Capital LLC acquired a new stake in shares of Kimco Realty during the 3rd quarter valued at $27,000. City Holding Co. bought a new stake in Kimco Realty during the 3rd quarter worth $30,000. CYBER HORNET ETFs LLC acquired a new position in Kimco Realty in the 2nd quarter worth about $37,000. Finally, ST Germain D J Co. Inc. raised its position in Kimco Realty by 160.7% in the second quarter. ST Germain D J Co. Inc. now owns 1,955 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,205 shares during the last quarter. 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.