Kimco Realty (NYSE:KIM) Cut to Hold at Jefferies Financial Group

Kimco Realty (NYSE:KIM) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Thursday, Marketbeat Ratings reports. They currently have a $25.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $28.00. Jefferies Financial Group’s target price would indicate a potential upside of 7.90% from the company’s current price.

KIM has been the subject of a number of other reports. Compass Point upped their price target on shares of Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. 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. Scotiabank raised their price target on Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a report on Monday, November 25th. JPMorgan Chase & Co. lowered Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 price objective for the company. in a research note on Friday, December 20th. Finally, Evercore ISI decreased their target price on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. Eleven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Kimco Realty has a consensus rating of “Hold” and an average price target of $24.84.

Kimco Realty Price Performance

Shares of Kimco Realty stock opened at $23.17 on Thursday. The stock has a market cap of $15.62 billion, a P/E ratio of 42.13, a P/E/G ratio of 3.22 and a beta of 1.51. 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 stock’s fifty day moving average is $24.44 and its 200 day moving average is $22.88. Kimco Realty has a one year low of $17.57 and a one year high of $25.83.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.22). The company had revenue of $507.63 million during the quarter, compared to the consensus estimate of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the business earned $0.40 EPS. Sell-side analysts anticipate that Kimco Realty will post 1.64 earnings per share for the current year.

Institutional Investors Weigh In On Kimco Realty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KIM. State Street Corp boosted its holdings in shares of Kimco Realty by 2.0% in the 3rd quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock worth $1,048,797,000 after purchasing an additional 882,047 shares during the period. FMR LLC lifted its position in Kimco Realty by 6.1% in the third quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock worth $518,733,000 after buying an additional 1,283,352 shares during the last quarter. Geode Capital Management LLC boosted its stake in Kimco Realty by 0.3% during the third quarter. Geode Capital Management LLC now owns 17,215,209 shares of the real estate investment trust’s stock worth $398,468,000 after buying an additional 53,378 shares during the period. APG Asset Management US Inc. increased its position in Kimco Realty by 1.6% during the second quarter. APG Asset Management US Inc. now owns 14,953,570 shares of the real estate investment trust’s stock valued at $288,155,000 after acquiring an additional 240,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Kimco Realty by 11.7% in the second quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock valued at $221,740,000 after acquiring an additional 1,193,600 shares during the period. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

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.