Raymond James Cuts Kimco Realty (NYSE:KIM) Price Target to $26.00

Kimco Realty (NYSE:KIM) had its price objective decreased by Raymond James from $28.00 to $26.00 in a research note published on Monday,Benzinga reports. Raymond James currently has a strong-buy rating on the real estate investment trust’s stock.

A number of other research analysts also recently weighed in on KIM. JPMorgan Chase & Co. dropped their price target on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Wells Fargo & Company reduced their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Citigroup cut their price target on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Scotiabank dropped their price objective on Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 23rd. Finally, Mizuho cut their target price on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Nine equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.68.

Kimco Realty Price Performance

KIM stock opened at $20.66 on Monday. The company has a market capitalization of $14.04 billion, a P/E ratio of 36.89, a PEG ratio of 2.78 and a beta of 1.26. The company has a fifty day moving average price of $20.60 and a 200-day moving average price of $22.47. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65. Kimco Realty has a 52-week low of $17.93 and a 52-week high of $25.83.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. The firm had revenue of $536.62 million during the quarter, compared to analyst estimates of $520.68 million. During the same quarter last year, the business earned $0.39 EPS. The company’s revenue was up 965.3% compared to the same quarter last year. As a group, equities analysts expect that Kimco Realty will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 4.84%. Kimco Realty’s payout ratio is presently 129.87%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KIM. Barclays PLC grew its holdings in shares of Kimco Realty by 14.3% during the 3rd quarter. Barclays PLC now owns 1,848,159 shares of the real estate investment trust’s stock valued at $42,915,000 after purchasing an additional 231,606 shares during the last quarter. World Investment Advisors LLC bought a new stake in Kimco Realty in the third quarter valued at $269,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Kimco Realty during the third quarter valued at about $31,000. Tidal Investments LLC raised its position in shares of Kimco Realty by 17.9% in the 3rd quarter. Tidal Investments LLC now owns 35,999 shares of the real estate investment trust’s stock worth $836,000 after acquiring an additional 5,466 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Kimco Realty by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 56,244 shares of the real estate investment trust’s stock valued at $1,319,000 after buying an additional 3,614 shares during the period. 89.25% of the stock is currently owned by hedge funds and other 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.