Kimco Realty (KIM) Earns Underperform Rating from Analysts at Scotiabank

Scotiabank assumed coverage on shares of Kimco Realty (NYSE:KIM) in a report released on Tuesday morning, The Fly reports. The firm issued an underperform rating on the real estate investment trust’s stock.

A number of other equities analysts also recently commented on KIM. ValuEngine upgraded Kimco Realty from a strong sell rating to a sell rating in a report on Thursday, June 21st. Sandler O’Neill reiterated a hold rating and issued a $18.00 target price on shares of Kimco Realty in a research note on Friday, July 27th. Stifel Nicolaus reiterated a hold rating and issued a $17.00 target price on shares of Kimco Realty in a research note on Friday, July 27th. Finally, Wells Fargo & Co increased their target price on Kimco Realty from $16.00 to $17.00 and gave the company a market perform rating in a research note on Monday, July 30th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $18.15.

Kimco Realty stock opened at $15.13 on Tuesday. The stock has a market capitalization of $6.38 billion, a PE ratio of 9.76, a PEG ratio of 3.28 and a beta of 0.38. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.92. Kimco Realty has a 12 month low of $13.16 and a 12 month high of $19.53.

Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Thursday, July 26th. The real estate investment trust reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The company had revenue of $293.40 million for the quarter, compared to the consensus estimate of $291.04 million. Kimco Realty had a return on equity of 9.40% and a net margin of 42.68%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. On average, equities analysts forecast that Kimco Realty will post 1.45 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Tuesday, October 2nd were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, October 1st. This represents a $1.12 dividend on an annualized basis and a yield of 7.40%. Kimco Realty’s dividend payout ratio (DPR) is presently 72.26%.

In other Kimco Realty news, Director Philip E. Coviello, Jr. acquired 5,500 shares of the stock in a transaction on Wednesday, August 1st. The stock was purchased at an average price of $16.46 per share, for a total transaction of $90,530.00. Following the purchase, the director now directly owns 52,965 shares in the company, valued at $871,803.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in Kimco Realty by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,733,733 shares of the real estate investment trust’s stock valued at $114,407,000 after purchasing an additional 110,939 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Kimco Realty by 7.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,118,022 shares of the real estate investment trust’s stock worth $86,956,000 after acquiring an additional 348,478 shares in the last quarter. Private Management Group Inc. grew its position in shares of Kimco Realty by 0.8% in the 2nd quarter. Private Management Group Inc. now owns 3,846,749 shares of the real estate investment trust’s stock worth $65,356,000 after acquiring an additional 30,080 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Kimco Realty in the 2nd quarter worth approximately $60,902,000. Finally, Bank of America Corp DE grew its position in shares of Kimco Realty by 46.1% in the 2nd quarter. Bank of America Corp DE now owns 3,463,682 shares of the real estate investment trust’s stock worth $58,848,000 after acquiring an additional 1,093,404 shares in the last quarter. Hedge funds and other institutional investors own 86.26% of the company’s stock.

Kimco Realty Company Profile

Kimco Realty Corp. (NYSE: KIM) 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 June 30, 2018, the company owned interests in 460 U.S. shopping centers comprising 79 million square feet of leasable space primarily concentrated in the top major metropolitan markets.

Featured Article: Stock Symbols and CUSIP Explained

The Fly

Analyst Recommendations for Kimco Realty (NYSE:KIM)

Receive News & Ratings for Kimco Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kimco Realty and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply