Kimco Realty (NYSE:KIM) Sets New 1-Year High – Still a Buy?

Kimco Realty Corp (NYSE:KIM) hit a new 52-week high during trading on Wednesday . The stock traded as high as $25.01 and last traded at $24.85, with a volume of 21409 shares traded. The stock had previously closed at $24.65.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and issued a $29.00 price target (up from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and raised their price target for the company from $20.00 to $23.00 in a report on Monday, August 19th. Scotiabank raised their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Argus raised shares of Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company lifted their price target on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.55.

Kimco Realty Price Performance

The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. The company has a market capitalization of $16.62 billion, a PE ratio of 44.84, a price-to-earnings-growth ratio of 4.08 and a beta of 1.50. The stock’s 50 day simple moving average is $23.57 and its 200-day simple moving average is $21.27.

Kimco Realty (NYSE:KIM) last announced its quarterly 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). The business had revenue of $507.63 million during the quarter, compared to analyst estimates 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 for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. As a group, equities analysts forecast that Kimco Realty Corp will post 1.63 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.06%. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio (DPR) is currently 174.55%.

Institutional Trading of Kimco Realty

Hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its holdings in Kimco Realty by 6.6% during the 1st quarter. Nordea Investment Management AB now owns 52,630 shares of the real estate investment trust’s stock worth $1,030,000 after purchasing an additional 3,279 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in shares of Kimco Realty by 10.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 137,698 shares of the real estate investment trust’s stock worth $2,700,000 after buying an additional 12,735 shares in the last quarter. Duality Advisers LP raised its position in shares of Kimco Realty by 84.1% during the first quarter. Duality Advisers LP now owns 56,144 shares of the real estate investment trust’s stock worth $1,101,000 after purchasing an additional 25,655 shares during the period. SG Americas Securities LLC raised its position in shares of Kimco Realty by 2.2% during the first quarter. SG Americas Securities LLC now owns 211,378 shares of the real estate investment trust’s stock worth $4,145,000 after purchasing an additional 4,633 shares during the period. Finally, Forsta AP Fonden grew its holdings in shares of Kimco Realty by 232.9% during the first quarter. Forsta AP Fonden now owns 435,800 shares of the real estate investment trust’s stock valued at $8,546,000 after buying an additional 304,900 shares in the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.

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.