JPMorgan Chase & Co. Lowers Kimco Realty (NYSE:KIM) Price Target to $24.00

Kimco Realty (NYSE:KIM) had its price target reduced by JPMorgan Chase & Co. from $25.00 to $24.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

KIM has been the subject of several other reports. Mizuho boosted their target price on shares of Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. UBS Group boosted their price objective 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 cut their target price on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Jefferies Financial Group lowered Kimco Realty from a “buy” rating to a “hold” rating and decreased their price target for the company from $28.00 to $25.00 in a research note on Thursday, January 2nd. Finally, Scotiabank upped their price objective on Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Monday, November 25th. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.83.

Kimco Realty Trading Up 0.4 %

Shares of NYSE:KIM opened at $21.61 on Tuesday. The business’s 50 day simple moving average is $22.67 and its 200 day simple moving average is $23.37. Kimco Realty has a 1 year low of $17.57 and a 1 year high of $25.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59. The company has a market capitalization of $14.57 billion, a P/E ratio of 38.60, a P/E/G ratio of 2.78 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last released its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. On average, research analysts anticipate that Kimco Realty will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend is Friday, March 7th. Kimco Realty’s dividend payout ratio is currently 178.57%.

Institutional Investors Weigh In On Kimco Realty

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its position in Kimco Realty by 2.0% in the 3rd quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock valued at $1,048,797,000 after acquiring an additional 882,047 shares during the period. FMR LLC grew its stake in shares of Kimco Realty by 7.9% in the fourth quarter. FMR LLC now owns 24,095,602 shares of the real estate investment trust’s stock worth $564,560,000 after purchasing an additional 1,755,684 shares during the last quarter. Geode Capital Management LLC increased its holdings in Kimco Realty by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 17,592,283 shares of the real estate investment trust’s stock valued at $411,179,000 after purchasing an additional 377,074 shares during the period. Invesco Ltd. increased its holdings in Kimco Realty by 18.3% in the fourth quarter. Invesco Ltd. now owns 17,383,750 shares of the real estate investment trust’s stock valued at $407,301,000 after purchasing an additional 2,692,258 shares during the period. Finally, Resolution Capital Ltd raised its position in Kimco Realty by 13.7% during the 4th quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust’s stock worth $388,442,000 after purchasing an additional 1,992,550 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

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.