Kimco Realty (NYSE:KIM) Stock Rating Upgraded by Morgan Stanley

Kimco Realty (NYSE:KIM) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Monday, Marketbeat reports. The firm presently has a $14.50 target price on the real estate investment trust’s stock, up from their prior target price of $11.00. Morgan Stanley’s price target points to a potential upside of 11.80% from the stock’s previous close.

Several other equities research analysts have also recently commented on KIM. Goldman Sachs Group started coverage on Kimco Realty in a research note on Wednesday, July 1st. They issued a “buy” rating and a $15.00 target price on the stock. Deutsche Bank raised Kimco Realty from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Monday, July 6th. Compass Point raised Kimco Realty from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $12.00 to $13.00 in a research report on Wednesday, July 8th. Zacks Investment Research raised Kimco Realty from a “sell” rating to a “hold” rating and set a $13.00 price target on the stock in a research report on Wednesday, September 9th. Finally, BMO Capital Markets started coverage on Kimco Realty in a research report on Tuesday, July 21st. They set a “hold” rating and a $12.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Kimco Realty has a consensus rating of “Hold” and an average price target of $14.83.

NYSE KIM opened at $12.97 on Monday. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 5.74, a PEG ratio of 8.21 and a beta of 1.17. The stock’s 50 day moving average price is $11.84 and its two-hundred day moving average price is $11.83. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.01 and a current ratio of 2.01. Kimco Realty has a 52 week low of $7.45 and a 52 week high of $21.86.

Kimco Realty (NYSE:KIM) last released its earnings results on Friday, August 7th. The real estate investment trust reported $1.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $1.48. The firm had revenue of $238.60 million for the quarter, compared to analysts’ expectations of $248.35 million. Kimco Realty had a return on equity of 20.23% and a net margin of 93.11%. The business’s quarterly revenue was down 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. On average, equities research analysts forecast that Kimco Realty will post 1.18 EPS for the current year.

In related news, insider Realty Corp Kimco sold 4,675,726 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $15.27, for a total value of $71,398,336.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank lifted its position in shares of Kimco Realty by 4.2% during the 1st quarter. Comerica Bank now owns 114,956 shares of the real estate investment trust’s stock valued at $988,000 after acquiring an additional 4,633 shares during the period. American International Group Inc. lifted its position in shares of Kimco Realty by 1.1% during the 1st quarter. American International Group Inc. now owns 150,727 shares of the real estate investment trust’s stock worth $1,458,000 after buying an additional 1,695 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Kimco Realty by 22.6% during the 1st quarter. Arizona State Retirement System now owns 97,168 shares of the real estate investment trust’s stock worth $940,000 after buying an additional 17,884 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Kimco Realty by 64.0% during the 1st quarter. Fifth Third Bancorp now owns 25,294 shares of the real estate investment trust’s stock worth $245,000 after buying an additional 9,875 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in Kimco Realty by 2.8% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 74,924 shares of the real estate investment trust’s stock worth $725,000 after purchasing an additional 2,032 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

About Kimco Realty

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.

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Analyst Recommendations for Kimco Realty (NYSE:KIM)

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