Evercore ISI Raises Kimco Realty (NYSE:KIM) Price Target to $23.00

Kimco Realty (NYSE:KIM) had its price target upped by Evercore ISI from $22.00 to $23.00 in a research report released on Monday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

A number of other research firms also recently commented on KIM. Truist Financial lifted their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a hold rating in a report on Wednesday, August 28th. Robert W. Baird lifted their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the stock an outperform rating in a report on Thursday, August 8th. Piper Sandler reaffirmed an overweight rating and issued a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group lifted their price objective on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a neutral rating in a report on Thursday, September 12th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $23.55.

Kimco Realty Stock Down 0.2 %

KIM stock opened at $23.54 on Monday. Kimco Realty has a twelve month low of $16.34 and a twelve month high of $24.25. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $15.87 billion, a P/E ratio of 44.42, a PEG ratio of 4.01 and a beta of 1.51. The firm has a 50 day simple moving average of $22.29 and a 200-day simple moving average of $20.09.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The company had revenue of $500.20 million for the quarter, compared to analyst estimates of $500.87 million. During the same period in the previous year, the business posted $0.39 EPS. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Kimco Realty will post 1.62 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Thursday, September 5th. Kimco Realty’s dividend payout ratio is currently 181.13%.

Insiders Place Their Bets

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $21.92, for a total value of $1,096,000.00. Following the sale, the chief operating officer now directly owns 337,111 shares in the company, valued at $7,389,473.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kimco Realty

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in Kimco Realty in the second quarter worth about $274,000. Truist Financial Corp raised its holdings in Kimco Realty by 2.0% during the 2nd quarter. Truist Financial Corp now owns 37,223 shares of the real estate investment trust’s stock worth $724,000 after buying an additional 746 shares during the period. Kimelman & Baird LLC acquired a new stake in Kimco Realty during the 2nd quarter worth about $1,423,000. Susquehanna Fundamental Investments LLC acquired a new stake in Kimco Realty during the 2nd quarter worth about $3,194,000. Finally, Mackenzie Financial Corp raised its holdings in Kimco Realty by 2.3% during the 2nd quarter. Mackenzie Financial Corp now owns 67,604 shares of the real estate investment trust’s stock worth $1,316,000 after buying an additional 1,528 shares during the period. 89.25% of the stock is currently owned by institutional investors.

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.