Kimco Realty (NYSE:KIM) Price Target Raised to $23.00 at Evercore ISI

Kimco Realty (NYSE:KIM) had its target price hoisted by Evercore ISI from $22.00 to $23.00 in a research report released on Monday morning, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the company. Compass Point boosted their price target on Kimco Realty from $25.00 to $28.00 and gave the company a buy rating in a research note on Tuesday, September 10th. Mizuho cut Kimco Realty from an outperform rating to a neutral rating and boosted their price target for the company from $20.00 to $23.00 in a research note on Monday, August 19th. Piper Sandler reissued an overweight rating and issued a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Raymond James upgraded Kimco Realty from a market perform rating to a strong-buy rating and set a $25.00 target price for the company in a report on Friday, August 16th. Finally, Robert W. Baird boosted their target price on Kimco Realty from $21.00 to $23.00 and gave the stock an outperform rating in a report on Thursday, August 8th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $23.55.

Kimco Realty Trading Down 0.2 %

NYSE:KIM opened at $23.54 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 1.73. Kimco Realty has a fifty-two week low of $16.34 and a fifty-two week high of $24.25. The stock’s 50-day moving average is $22.29 and its two-hundred day moving average is $20.09. The stock has a market cap of $15.87 billion, a PE ratio of 44.42, a price-to-earnings-growth ratio of 4.01 and a beta of 1.51.

Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share 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 analysts’ expectations of $500.87 million. During the same period last year, the firm earned $0.39 EPS. The company’s revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts forecast that Kimco Realty will post 1.62 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be given a $0.24 dividend. The ex-dividend date is Thursday, September 5th. This represents a $0.96 annualized dividend and a yield of 4.08%. Kimco Realty’s dividend payout ratio (DPR) is currently 181.13%.

Insider Buying and Selling

In related news, COO David Jamieson sold 50,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total value of $1,096,000.00. Following the completion of the transaction, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at $7,389,473.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Securities Inc. acquired a new position in Kimco Realty during the fourth quarter worth $29,000. Blue Trust Inc. raised its stake 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 acquiring an additional 1,816 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Kimco Realty by 52.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 773 shares in the last quarter. UMB Bank n.a. raised its stake in Kimco Realty by 112.6% during the second 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 in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in Kimco Realty during the first quarter worth $70,000. 89.25% of the stock is owned by institutional investors.

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.