Kimco Realty (NYSE:KIM) Price Target Raised to $24.00

Kimco Realty (NYSE:KIM) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $21.00 to $24.00 in a research report sent to investors on Tuesday, The Fly reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley upped their price objective on Kimco Realty from $20.00 to $23.50 and gave the stock an overweight rating in a report on Tuesday, May 18th. BTIG Research reiterated a hold rating on shares of Kimco Realty in a report on Friday, April 23rd. Robert W. Baird reiterated an outperform rating on shares of Kimco Realty in a report on Monday, April 19th. Mizuho upped their price objective on Kimco Realty from $20.00 to $22.00 and gave the stock a buy rating in a report on Friday, April 16th. Finally, UBS Group began coverage on Kimco Realty in a report on Thursday, June 3rd. They issued a buy rating and a $25.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Kimco Realty has a consensus rating of Buy and a consensus price target of $17.47.

Kimco Realty stock opened at $21.98 on Tuesday. Kimco Realty has a 52 week low of $10.03 and a 52 week high of $22.31. The business’s 50-day simple moving average is $20.67. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.50 and a current ratio of 3.50. The stock has a market capitalization of $9.53 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 2.73 and a beta of 1.53.

Kimco Realty (NYSE:KIM) last posted its earnings results on Thursday, April 29th. The real estate investment trust reported $0.30 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. Kimco Realty had a return on equity of 18.60% and a net margin of 99.83%. Equities research analysts predict that Kimco Realty will post 1.25 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 23rd. Shareholders of record on Wednesday, June 9th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, June 8th. Kimco Realty’s payout ratio is 58.12%.

In other Kimco Realty news, COO David Jamieson sold 89,102 shares of the company’s stock in a transaction that occurred on Wednesday, June 2nd. The stock was sold at an average price of $22.25, for a total transaction of $1,982,519.50. Corporate insiders own 2.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KIM. Hartford Investment Management Co. grew its holdings in shares of Kimco Realty by 8.9% during the 4th quarter. Hartford Investment Management Co. now owns 49,287 shares of the real estate investment trust’s stock worth $740,000 after acquiring an additional 4,048 shares during the period. First Trust Advisors LP grew its holdings in shares of Kimco Realty by 419.4% during the 4th quarter. First Trust Advisors LP now owns 266,497 shares of the real estate investment trust’s stock worth $4,000,000 after acquiring an additional 215,193 shares during the period. California Public Employees Retirement System grew its holdings in shares of Kimco Realty by 2.8% during the 4th quarter. California Public Employees Retirement System now owns 1,026,543 shares of the real estate investment trust’s stock worth $15,408,000 after acquiring an additional 28,138 shares during the period. Bailard Inc. purchased a new position in shares of Kimco Realty during the 4th quarter worth approximately $375,000. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of Kimco Realty by 16.2% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 867,297 shares of the real estate investment trust’s stock worth $13,018,000 after acquiring an additional 120,683 shares during the period. 90.71% of the stock is owned by institutional investors and hedge funds.

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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