Kimco Realty (NYSE:KIM) Upgraded to “Strong-Buy” by Argus

Argus upgraded shares of Kimco Realty (NYSE:KIM) to a strong-buy rating in a report issued on Friday, Zacks.com reports.

Several other research firms have also weighed in on KIM. Raymond James raised Kimco Realty from a market perform rating to a strong-buy rating and set a $25.00 price objective on the stock in a research note on Friday, August 16th. Truist Financial raised their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the company a hold rating in a research note on Wednesday, August 28th. Evercore ISI increased their target price on Kimco Realty from $21.00 to $22.00 and gave the company an in-line rating in a research report on Wednesday, August 28th. Mizuho cut Kimco Realty from an outperform rating to a neutral rating and boosted their price target for the stock from $20.00 to $23.00 in a report on Monday, August 19th. Finally, Scotiabank raised their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the company a sector perform rating in a report on Monday, August 26th. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $23.21.

Kimco Realty Stock Performance

KIM opened at $23.31 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73. Kimco Realty has a 52-week low of $16.34 and a 52-week high of $23.53. The firm has a market cap of $15.71 billion, a P/E ratio of 43.97, a price-to-earnings-growth ratio of 3.92 and a beta of 1.51. The business’s fifty day moving average is $21.61 and its 200-day moving average is $19.87.

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

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, September 5th. Kimco Realty’s dividend payout ratio (DPR) is currently 181.14%.

Insiders Place Their Bets

In other news, COO David Jamieson sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the sale, the chief operating officer now owns 337,111 shares in the company, valued at $7,389,473.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Kimco Realty

Several hedge funds have recently bought and sold shares of KIM. Principal Securities Inc. bought a new stake in Kimco Realty during the 4th quarter worth approximately $29,000. Blue Trust Inc. grew its holdings in Kimco Realty by 613.5% during the second 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 in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Kimco Realty by 52.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 773 shares in the last quarter. UMB Bank n.a. boosted its holdings in Kimco Realty by 112.6% during the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 1,787 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Kimco Realty in the 1st quarter worth $70,000. Institutional investors and hedge funds 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.