Kimco Realty (NYSE:KIM) PT Raised to $22.50 at The Goldman Sachs Group

Kimco Realty (NYSE:KIM) had its price target raised by research analysts at The Goldman Sachs Group from $20.00 to $22.50 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s price objective points to a potential downside of 4.01% from the company’s previous close.

A number of other analysts have also commented on the stock. Wells Fargo & Company upped their price objective on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Compass Point upped their price objective on shares of Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird upped their price objective 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. Mizuho lowered shares of Kimco Realty from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $20.00 to $23.00 in a research note on Monday, August 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $29.00 price objective (up from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Ten equities 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.48.

Kimco Realty Stock Performance

Shares of NYSE:KIM traded down $0.05 on Thursday, reaching $23.44. 568,147 shares of the company’s stock were exchanged, compared to its average volume of 4,645,714. The firm has a market capitalization of $15.80 billion, a price-to-earnings ratio of 44.23, a PEG ratio of 3.92 and a beta of 1.51. Kimco Realty has a fifty-two week low of $16.34 and a fifty-two week high of $23.57. The business’s 50-day moving average is $21.85 and its two-hundred day moving average is $19.94. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.72.

Kimco Realty (NYSE:KIM) last released its quarterly 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). The firm had revenue of $500.20 million for the quarter, compared to the consensus estimate of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 EPS. As a group, equities research analysts forecast that Kimco Realty will post 1.62 EPS for the current year.

Insider Transactions 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 value of $1,096,000.00. Following the sale, the chief operating officer now owns 337,111 shares in the company, valued at $7,389,473.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KIM. Victory Capital Management Inc. lifted its position in Kimco Realty by 19.5% in the fourth quarter. Victory Capital Management Inc. now owns 127,779 shares of the real estate investment trust’s stock worth $2,723,000 after purchasing an additional 20,828 shares during the period. Principal Securities Inc. bought a new position in shares of Kimco Realty during the fourth quarter valued at $29,000. AGF Management Ltd. lifted its holdings in shares of Kimco Realty by 7.4% during the fourth quarter. AGF Management Ltd. now owns 44,134 shares of the real estate investment trust’s stock valued at $940,000 after acquiring an additional 3,032 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Kimco Realty by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,194,513 shares of the real estate investment trust’s stock valued at $195,942,000 after acquiring an additional 24,036 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Kimco Realty by 21.8% during the fourth quarter. Principal Financial Group Inc. now owns 1,145,255 shares of the real estate investment trust’s stock valued at $24,405,000 after acquiring an additional 205,090 shares during the period. 89.25% of the stock is owned by 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.