Kimco Realty (NYSE:KIM) Given New $25.00 Price Target at Wells Fargo & Company

Kimco Realty (NYSE:KIM) had its target price increased by Wells Fargo & Company from $21.00 to $25.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

A number of other research firms also recently commented on KIM. Truist Financial dropped their price objective on Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, January 20th. Barclays reiterated an “overweight” rating and issued a $25.00 target price on shares of Kimco Realty in a research note on Tuesday, January 13th. Weiss Ratings upgraded shares of Kimco Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 5th. Citigroup cut their price target 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. Finally, Piper Sandler lifted their price objective on shares of Kimco Realty from $26.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Kimco Realty presently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Kimco Realty Stock Performance

Shares of KIM stock opened at $23.07 on Thursday. Kimco Realty has a fifty-two week low of $17.93 and a fifty-two week high of $23.91. The stock’s 50-day moving average is $22.14 and its two-hundred day moving average is $21.43. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.31 and a quick ratio of 3.31. The firm has a market cap of $15.55 billion, a P/E ratio of 28.48, a PEG ratio of 1.28 and a beta of 1.04.

Kimco Realty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Friday, March 6th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, March 6th. Kimco Realty’s payout ratio is 128.40%.

Hedge Funds Weigh In On Kimco Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Knights of Columbus Asset Advisors LLC grew its position in shares of Kimco Realty by 94.1% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 70,662 shares of the real estate investment trust’s stock valued at $1,544,000 after purchasing an additional 34,251 shares during the last quarter. Centersquare Investment Management LLC lifted its position in shares of Kimco Realty by 1.6% during the 3rd quarter. Centersquare Investment Management LLC now owns 11,935,173 shares of the real estate investment trust’s stock worth $260,784,000 after purchasing an additional 188,261 shares during the last quarter. AE Wealth Management LLC acquired a new position in shares of Kimco Realty during the 3rd quarter worth about $4,653,000. AlphaQuest LLC boosted its stake in Kimco Realty by 124.0% during the 3rd quarter. AlphaQuest LLC now owns 119,706 shares of the real estate investment trust’s stock valued at $2,616,000 after purchasing an additional 66,269 shares during the period. Finally, iA Global Asset Management Inc. bought a new stake in Kimco Realty during the 3rd quarter valued at approximately $1,100,000. Institutional investors and hedge funds own 89.25% of the company’s stock.

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.