Kimco Realty (NYSE:KIM) Reaches New 1-Year High on Analyst Upgrade

Kimco Realty Corp (NYSE:KIM) shares reached a new 52-week high on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $21.00 to $24.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Kimco Realty traded as high as $22.31 and last traded at $22.16, with a volume of 2776292 shares trading hands. The stock had previously closed at $22.16.

Several other equities analysts have also recently weighed in on the stock. Robert W. Baird reiterated an “outperform” rating on shares of Kimco Realty in a research report on Monday, April 19th. UBS Group assumed coverage on shares of Kimco Realty in a research note on Thursday, June 3rd. They issued a “buy” rating and a $25.00 target price on the stock. Truist upped their target price on shares of Kimco Realty from $18.00 to $20.00 in a research report on Friday, March 5th. Morgan Stanley increased their price objective on shares of Kimco Realty from $20.00 to $23.50 and gave the company an “overweight” rating in a report on Tuesday, May 18th. Finally, Mizuho increased their price objective on shares of Kimco Realty from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, April 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $17.47.

In other Kimco Realty news, COO David Jamieson sold 89,102 shares of the firm’s stock in a transaction dated Wednesday, June 2nd. The shares were sold at an average price of $22.25, for a total value of $1,982,519.50. 2.90% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of KIM. Retirement Systems of Alabama lifted its position in shares of Kimco Realty by 42.6% during the first quarter. Retirement Systems of Alabama now owns 459,203 shares of the real estate investment trust’s stock worth $8,610,000 after purchasing an additional 137,259 shares in the last quarter. Truist Financial Corp raised its stake in Kimco Realty by 240.3% in the 4th quarter. Truist Financial Corp now owns 91,201 shares of the real estate investment trust’s stock worth $1,369,000 after purchasing an additional 64,400 shares in the last quarter. JLP Asset Management LLC bought a new position in Kimco Realty in the 4th quarter valued at about $3,895,000. Baker Ellis Asset Management LLC increased its holdings in Kimco Realty by 4.6% in the 1st quarter. Baker Ellis Asset Management LLC now owns 100,561 shares of the real estate investment trust’s stock valued at $1,886,000 after buying an additional 4,417 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Kimco Realty by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,734,313 shares of the real estate investment trust’s stock valued at $71,063,000 after purchasing an additional 21,509 shares during the last quarter. Institutional investors own 90.71% of the company’s stock.

The firm has a market cap of $9.53 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 2.73 and a beta of 1.53. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average of $20.67.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, April 29th. The real estate investment trust reported $0.30 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. Kimco Realty had a net margin of 99.83% and a return on equity of 18.60%. On average, equities analysts anticipate that Kimco Realty Corp will post 1.25 EPS for the current fiscal year.

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

About Kimco Realty (NYSE:KIM)

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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