Kimco Realty (NYSE:KIM) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Kimco Realty (NYSE:KIM) from an overweight rating to a neutral rating in a report published on Friday morning, Marketbeat.com reports. They currently have $26.00 target price on the real estate investment trust’s stock.

Several other analysts have also commented on the stock. UBS Group increased their price target on shares of Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Evercore ISI upped their price objective on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Compass Point upped their target price on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Scotiabank increased their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a report on Monday, November 25th. Finally, Mizuho upped their price objective on Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.83.

Kimco Realty Price Performance

Shares of NYSE KIM opened at $23.42 on Friday. The company’s fifty day moving average is $24.57 and its two-hundred day moving average is $22.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. The firm has a market capitalization of $15.79 billion, a P/E ratio of 42.58, a PEG ratio of 3.20 and a beta of 1.50. Kimco Realty has a one year low of $17.57 and a one year high of $25.83.

Kimco Realty (NYSE:KIM) last issued its 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 company had revenue of $507.63 million during the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the business posted $0.40 earnings per share. Analysts forecast that Kimco Realty will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.27%. Kimco Realty’s dividend payout ratio is currently 181.82%.

Institutional Investors Weigh In On Kimco Realty

Hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Kimco Realty by 842.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,262,687 shares of the real estate investment trust’s stock valued at $145,420,000 after acquiring an additional 5,598,091 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Kimco Realty by 43.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,943,646 shares of the real estate investment trust’s stock valued at $154,583,000 after acquiring an additional 2,400,752 shares in the last quarter. FMR LLC boosted its position in Kimco Realty by 6.1% in the 3rd quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock valued at $518,733,000 after buying an additional 1,283,352 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Kimco Realty by 11.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock worth $221,740,000 after purchasing an additional 1,193,600 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Kimco Realty by 71.5% during the second quarter. Sei Investments Co. now owns 2,792,649 shares of the real estate investment trust’s stock worth $54,345,000 after buying an additional 1,164,029 shares during the last quarter. 89.25% of the stock is currently 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.