Kimco Realty (NYSE:KIM) Reaches New 52-Week High – Should You Buy?

Kimco Realty Corp (NYSE:KIM)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $24.28 and last traded at $24.23, with a volume of 2159672 shares traded. The stock had previously closed at $23.41.

Analyst Ratings Changes

A number of research firms have commented on KIM. Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $20.00 to $23.00 in a research note on Monday, August 19th. The Goldman Sachs Group lifted their price target on Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Raymond James upgraded 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. JPMorgan Chase & Co. lifted their target price on Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Argus raised Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.55.

Kimco Realty Price Performance

The stock has a 50 day moving average of $23.06 and a two-hundred day moving average of $20.64. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market cap of $16.50 billion, a PE ratio of 46.17, a PEG ratio of 3.95 and a beta of 1.50.

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). The firm had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the business earned $0.39 earnings per share. Equities analysts anticipate that Kimco Realty Corp will post 1.62 EPS for the current year.

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were issued a $0.24 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.92%. Kimco Realty’s payout ratio is currently 181.13%.

Insider Transactions at Kimco Realty

In related news, COO David Jamieson sold 50,000 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Kimco Realty

Institutional investors have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Kimco Realty by 1.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 42,782 shares of the real estate investment trust’s stock valued at $816,000 after buying an additional 522 shares during the period. CWM LLC raised its holdings in shares of Kimco Realty by 4.7% during the third quarter. CWM LLC now owns 13,323 shares of the real estate investment trust’s stock worth $309,000 after acquiring an additional 595 shares in the last quarter. Cascade Investment Advisors Inc. boosted its position in Kimco Realty by 1.1% during the second quarter. Cascade Investment Advisors Inc. now owns 57,045 shares of the real estate investment trust’s stock valued at $1,110,000 after purchasing an additional 640 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in Kimco Realty by 5.0% in the second quarter. Checchi Capital Advisers LLC now owns 14,026 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 663 shares in the last quarter. Finally, Baker Ellis Asset Management LLC increased its position in Kimco Realty by 0.5% in the 1st quarter. Baker Ellis Asset Management LLC now owns 129,802 shares of the real estate investment trust’s stock worth $2,545,000 after purchasing an additional 680 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

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.