Kimco Realty (NYSE:KIM) Price Target Raised to $23.00 at Mizuho

Kimco Realty (NYSE:KIM) had its price objective lifted by Mizuho from $22.00 to $23.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other brokerages have also weighed in on KIM. Scotiabank lowered their price objective on Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Piper Sandler lowered their price objective on Kimco Realty from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Wall Street Zen raised Kimco Realty from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Barclays initiated coverage on Kimco Realty in a report on Wednesday, July 2nd. They issued an “overweight” rating and a $25.00 price objective for the company. Finally, Raymond James Financial lowered their price objective on Kimco Realty from $28.00 to $26.00 and set a “strong-buy” rating for the company in a report on Monday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.63.

Kimco Realty Stock Down 0.4%

Shares of NYSE KIM opened at $21.6160 on Wednesday. Kimco Realty has a 1 year low of $17.93 and a 1 year high of $25.83. The firm has a market cap of $14.64 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 1.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.92 and a current ratio of 3.92. The stock’s 50-day simple moving average is $21.31 and its 200-day simple moving average is $21.12.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $525.18 million during the quarter, compared to analyst estimates of $524.75 million. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%.Kimco Realty’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. As a group, equities analysts anticipate that Kimco Realty will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, September 5th. Kimco Realty’s payout ratio is presently 120.48%.

Hedge Funds Weigh In On Kimco Realty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trust Co. of Toledo NA OH acquired a new position in Kimco Realty in the second quarter valued at approximately $27,000. AlphaQuest LLC acquired a new position in Kimco Realty in the first quarter valued at approximately $29,000. Keystone Global Partners LLC acquired a new position in Kimco Realty in the first quarter valued at approximately $30,000. Golden State Wealth Management LLC boosted its position in shares of Kimco Realty by 177.6% during the first quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 911 shares during the period. Finally, WASHINGTON TRUST Co acquired a new position in shares of Kimco Realty during the first quarter worth approximately $34,000. 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.