Kimco Realty (NYSE:KIM) Downgraded to Neutral Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Kimco Realty (NYSE:KIM) from an overweight rating to a neutral rating in a research report released on Friday morning, Marketbeat Ratings reports. The firm currently has $26.00 target price on the real estate investment trust’s stock.

Several other brokerages also recently weighed in on KIM. Wells Fargo & Company upped their price target on Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Robert W. Baird lifted their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Scotiabank increased their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a research report on Monday, November 25th. 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 research report on Wednesday, August 28th. Finally, Argus raised Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Ten investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.83.

Kimco Realty Trading Up 1.8 %

KIM opened at $23.42 on Friday. Kimco Realty has a 52 week low of $17.57 and a 52 week high of $25.83. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. The business has a fifty day simple moving average of $24.57 and a 200-day simple moving average of $22.56. The firm has a market cap of $15.79 billion, a P/E ratio of 42.58, a P/E/G ratio of 3.20 and a beta of 1.50.

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

Kimco Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.27%. Kimco Realty’s payout ratio is currently 181.82%.

Hedge Funds Weigh In On Kimco Realty

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Catalyst Capital Advisors LLC purchased a new position in shares of Kimco Realty in the 3rd quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB purchased a new position in Kimco Realty in the 3rd quarter valued at $31,000. Brooklyn Investment Group acquired a new position in Kimco Realty in the 3rd quarter valued at $37,000. Blue Trust Inc. raised its position in Kimco Realty by 613.5% during the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 1,816 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Kimco Realty in the 3rd quarter worth $51,000. Hedge funds and other 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.