Kimco Realty Corp (NYSE:KIM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Kimco Realty Corp (NYSE:KIM) has been given a consensus rating of “Moderate Buy” by the sixteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Nine research 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 company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $23.55.

Several analysts recently commented on KIM shares. Argus raised shares of Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. Robert W. Baird increased their target price on shares of Kimco Realty from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Scotiabank upped their price target on shares of Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Raymond James raised shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research note on Friday, August 16th. Finally, The Goldman Sachs Group raised their price objective on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research note on Thursday, September 12th.

Kimco Realty Trading Down 1.7 %

Shares of NYSE:KIM opened at $23.55 on Friday. Kimco Realty has a twelve month low of $16.49 and a twelve month high of $24.67. The firm has a market cap of $15.88 billion, a P/E ratio of 43.61, a P/E/G ratio of 4.10 and a beta of 1.50. The company has a 50 day moving average of $23.36 and a 200-day moving average of $20.90. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72.

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

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were 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 was Thursday, September 5th. Kimco Realty’s dividend payout ratio (DPR) is currently 177.78%.

Insider Buying and Selling at Kimco Realty

In other news, COO David Jamieson sold 50,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the transaction, the chief operating officer now owns 337,111 shares in the company, valued at approximately $7,389,473.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Kimco Realty by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock valued at $2,162,347,000 after purchasing an additional 7,931,013 shares in the last quarter. APG Asset Management US Inc. raised its holdings in shares of Kimco Realty by 1.6% during the 2nd 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 purchasing an additional 240,000 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in shares of Kimco Realty by 76.8% during the 1st quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock valued at $269,531,000 after purchasing an additional 6,282,891 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Kimco Realty by 11.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock worth $221,740,000 after acquiring an additional 1,193,600 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Kimco Realty by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,129,551 shares of the real estate investment trust’s stock worth $197,116,000 after acquiring an additional 94,811 shares during the period. 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.