Brokerages Set Kimco Realty Corporation (NYSE:KIM) Target Price at $24.33

Kimco Realty Corporation (NYSE:KIM) has been assigned an average recommendation of “Hold” from the thirteen research firms that are presently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $24.3333.

A number of research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Kimco Realty in a research note on Wednesday, October 8th. Wall Street Zen upgraded Kimco Realty from a “sell” rating to a “hold” rating in a research report on Saturday. Scotiabank lowered their price objective on Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 13th. Citigroup cut their target price on Kimco Realty from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. Finally, Argus reiterated a “buy” rating and set a $27.00 price target on shares of Kimco Realty in a report on Monday, December 1st.

Kimco Realty Trading Down 1.4%

Shares of KIM opened at $20.00 on Friday. Kimco Realty has a 52-week low of $17.93 and a 52-week high of $23.73. The stock has a market cap of $13.54 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The firm’s fifty day moving average is $20.75 and its two-hundred day moving average is $21.27. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.77.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $535.86 million during the quarter, compared to analysts’ expectations of $522.31 million. Kimco Realty had a net margin of 28.24% and a return on equity of 5.60%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. Research analysts forecast that Kimco Realty will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 5.2%. This is a boost from Kimco Realty’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, December 5th. Kimco Realty’s payout ratio is presently 125.30%.

Insiders Place Their Bets

In other news, Director Mary Hogan Preusse sold 23,100 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $21.66, for a total value of $500,346.00. Following the completion of the sale, the director owned 40,260 shares of the company’s stock, valued at $872,031.60. This represents a 36.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Values First Advisors Inc. raised its stake in shares of Kimco Realty by 1.7% in the 3rd quarter. Values First Advisors Inc. now owns 27,590 shares of the real estate investment trust’s stock valued at $603,000 after acquiring an additional 450 shares during the period. Compound Planning Inc. increased its holdings in Kimco Realty by 3.4% in the 1st quarter. Compound Planning Inc. now owns 14,759 shares of the real estate investment trust’s stock valued at $313,000 after purchasing an additional 485 shares during the last quarter. Quadrant Capital Group LLC raised its position in Kimco Realty by 1.7% in the third quarter. Quadrant Capital Group LLC now owns 30,335 shares of the real estate investment trust’s stock valued at $663,000 after purchasing an additional 503 shares during the period. Parallel Advisors LLC lifted its stake in Kimco Realty by 11.2% during the third quarter. Parallel Advisors LLC now owns 5,176 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 520 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its position in shares of Kimco Realty by 5.0% during the third quarter. Bleakley Financial Group LLC now owns 12,421 shares of the real estate investment trust’s stock worth $271,000 after buying an additional 589 shares during the period. Hedge funds and other institutional investors own 89.25% of the company’s stock.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.