Kimco Realty (NYSE:KIM) Price Target Raised to $23.00 at Truist Financial

Kimco Realty (NYSE:KIM) had its price target increased by Truist Financial from $22.00 to $23.00 in a report issued on Monday,Benzinga reports. The firm currently has a hold rating on the real estate investment trust’s stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price target on Kimco Realty from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Argus reissued a “buy” rating and set a $27.00 price objective on shares of Kimco Realty in a report on Monday, December 1st. Barclays reissued an “overweight” rating and issued a $25.00 price objective on shares of Kimco Realty in a research note on Tuesday, January 13th. Mizuho set a $21.00 target price on Kimco Realty in a report on Friday, January 9th. Finally, Wall Street Zen raised Kimco Realty from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.57.

Kimco Realty Stock Up 1.6%

KIM stock opened at $22.70 on Monday. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.78. Kimco Realty has a 1 year low of $17.93 and a 1 year high of $23.91. The company has a fifty day simple moving average of $22.22 and a 200 day simple moving average of $21.42. The firm has a market cap of $15.30 billion, a PE ratio of 28.03, a PEG ratio of 1.25 and a beta of 1.04.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Friday, March 6th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.6%. The ex-dividend date was Friday, March 6th. Kimco Realty’s dividend payout ratio is presently 128.40%.

Institutional Trading of Kimco Realty

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC raised its position in shares of Kimco Realty by 8.6% during the fourth quarter. Hsbc Holdings PLC now owns 3,587,902 shares of the real estate investment trust’s stock valued at $72,724,000 after buying an additional 283,385 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Kimco Realty by 9.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 539,577 shares of the real estate investment trust’s stock valued at $10,937,000 after buying an additional 48,672 shares during the period. Corient Private Wealth LLC grew its position in Kimco Realty by 5.6% during the fourth quarter. Corient Private Wealth LLC now owns 43,112 shares of the real estate investment trust’s stock worth $874,000 after buying an additional 2,302 shares in the last quarter. Reflection Asset Management acquired a new stake in Kimco Realty during the fourth quarter worth about $1,184,000. Finally, Pacer Advisors Inc. increased its stake in Kimco Realty by 76.9% during the fourth quarter. Pacer Advisors Inc. now owns 95,572 shares of the real estate investment trust’s stock valued at $1,937,000 after acquiring an additional 41,556 shares during the period. 89.25% of the stock is currently owned by institutional investors and hedge funds.

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.