Kimco Realty (NYSE:KIM) Sets New 12-Month High – Still a Buy?

Kimco Realty Corp (NYSE:KIM) shares reached a new 52-week high on Thursday . The stock traded as high as $25.20 and last traded at $25.16, with a volume of 67099 shares traded. The stock had previously closed at $25.09.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KIM. Robert W. Baird upped their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Wells Fargo & Company upped their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Argus raised shares of Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Finally, Evercore ISI upped their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Kimco Realty currently has an average rating of “Moderate Buy” and an average target price of $24.14.

Kimco Realty Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. The company has a market capitalization of $17.00 billion, a price-to-earnings ratio of 45.62, a P/E/G ratio of 3.28 and a beta of 1.50. The business’s 50-day simple moving average is $23.87 and its 200-day simple moving average is $21.68.

Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business had revenue of $507.63 million for the quarter, compared to analyst estimates of $502.78 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, research analysts expect that Kimco Realty Corp will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.25 per share. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.00 annualized dividend and a yield of 3.97%. Kimco Realty’s dividend payout ratio (DPR) is presently 174.55%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors boosted its stake in Kimco Realty by 3.4% during the 3rd quarter. Captrust Financial Advisors now owns 14,657 shares of the real estate investment trust’s stock worth $340,000 after acquiring an additional 482 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Kimco Realty by 1.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 42,782 shares of the real estate investment trust’s stock worth $816,000 after acquiring an additional 522 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in Kimco Realty by 2.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 23,380 shares of the real estate investment trust’s stock worth $544,000 after acquiring an additional 565 shares during the last quarter. CWM LLC boosted its stake in Kimco Realty by 4.7% during the 3rd quarter. CWM LLC now owns 13,323 shares of the real estate investment trust’s stock worth $309,000 after acquiring an additional 595 shares during the last quarter. Finally, Cascade Investment Advisors Inc. boosted its stake in Kimco Realty by 1.1% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 57,045 shares of the real estate investment trust’s stock worth $1,110,000 after acquiring an additional 640 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Company Profile

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.