Barclays Initiates Coverage on Kimco Realty (NYSE:KIM)

Research analysts at Barclays began coverage on shares of Kimco Realty (NYSE:KIM) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $25.00 price target on the real estate investment trust’s stock. Barclays‘s price target suggests a potential upside of 17.98% from the company’s current price.

Several other research firms also recently issued reports on KIM. Piper Sandler cut their price objective on shares of Kimco Realty from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Scotiabank dropped their price objective on shares of Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Kimco Realty from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th. Raymond James Financial cut their price target on Kimco Realty from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Monday, May 5th. Finally, Citigroup decreased their price objective on Kimco Realty from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Kimco Realty presently has an average rating of “Moderate Buy” and a consensus price target of $24.70.

Kimco Realty Trading Up 0.8%

Shares of NYSE KIM opened at $21.19 on Wednesday. Kimco Realty has a 1-year low of $17.93 and a 1-year high of $25.83. The business has a fifty day moving average price of $20.93 and a 200 day moving average price of $21.46. The stock has a market capitalization of $14.34 billion, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 1.46 and a beta of 1.24. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.47 and a quick ratio of 3.47.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. Kimco Realty had a net margin of 26.79% and a return on equity of 5.17%. The business had revenue of $536.62 million during the quarter, compared to analyst estimates of $520.68 million. During the same period in the prior year, the firm posted $0.39 earnings per share. The company’s quarterly revenue was up 965.3% on a year-over-year basis. Equities research analysts expect that Kimco Realty will post 1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in Kimco Realty during the fourth quarter worth about $26,000. AlphaQuest LLC purchased a new position in shares of Kimco Realty in the first quarter valued at approximately $29,000. Golden State Wealth Management LLC grew its holdings in shares of Kimco Realty by 177.6% in the first quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 911 shares in the last quarter. Keystone Global Partners LLC purchased a new stake in Kimco Realty during the 1st quarter worth approximately $30,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in Kimco Realty by 78.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 575 shares in the last quarter. 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.