JPMorgan Chase & Co. Issues Positive Forecast for Kimco Realty (NYSE:KIM) Stock Price

Kimco Realty (NYSE:KIM) had its target price raised by JPMorgan Chase & Co. from $23.00 to $25.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

KIM has been the subject of several other research reports. Wells Fargo & Company decreased their price objective on Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, December 15th. Scotiabank decreased their price target on shares of Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, November 13th. Robert W. Baird set a $25.00 price objective on shares of Kimco Realty in a report on Friday, February 13th. UBS Group decreased their price objective on shares of Kimco Realty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, Citigroup lowered their target price on shares of Kimco Realty from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.23.

Kimco Realty Stock Performance

Shares of KIM stock opened at $23.52 on Thursday. Kimco Realty has a 52 week low of $17.93 and a 52 week high of $23.91. The firm has a 50 day moving average of $21.59 and a two-hundred day moving average of $21.35. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $15.85 billion, a PE ratio of 29.04, a P/E/G ratio of 1.32 and a beta of 1.04.

Kimco Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Friday, March 6th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.04 annualized dividend and a yield of 4.4%. Kimco Realty’s dividend payout ratio is currently 128.40%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of KIM. Reflection Asset Management purchased a new stake in shares of Kimco Realty during the fourth quarter worth approximately $1,184,000. Pacer Advisors Inc. increased its stake in Kimco Realty by 76.9% in the 4th quarter. Pacer Advisors Inc. now owns 95,572 shares of the real estate investment trust’s stock valued at $1,937,000 after buying an additional 41,556 shares during the period. Compound Planning Inc. raised its position in Kimco Realty by 8.5% during the 4th quarter. Compound Planning Inc. now owns 15,012 shares of the real estate investment trust’s stock worth $304,000 after buying an additional 1,180 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Kimco Realty by 34.9% in the 4th quarter. Invesco Ltd. now owns 17,016,898 shares of the real estate investment trust’s stock worth $344,933,000 after acquiring an additional 4,399,959 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in shares of Kimco Realty by 6.1% in the fourth quarter. Corient Private Wealth LLC now owns 43,305 shares of the real estate investment trust’s stock valued at $874,000 after acquiring an additional 2,495 shares in the last quarter. Institutional investors and hedge funds 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.