JPMorgan Chase & Co. Boosts Kimco Realty (NYSE:KIM) Price Target to $24.00

Kimco Realty (NYSE:KIM) had its price target boosted by JPMorgan Chase & Co. from $22.00 to $24.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

A number of other research firms also recently issued reports on KIM. Robert W. Baird decreased their price target on shares of Kimco Realty from $23.00 to $21.00 and set an outperform rating for the company in a research note on Thursday, April 4th. Piper Sandler restated an overweight rating and set a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a research report on Friday. Bank of America reiterated a neutral rating and issued a $20.00 price target (down from $24.00) on shares of Kimco Realty in a research report on Friday, April 5th. Mizuho decreased their price target on shares of Kimco Realty from $21.00 to $20.00 and set a buy rating on the stock in a research report on Thursday, May 23rd. Finally, Truist Financial cut their target price on shares of Kimco Realty from $23.00 to $22.00 and set a hold rating for the company in a research note on Monday, May 20th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Kimco Realty presently has a consensus rating of Hold and a consensus price target of $21.98.

Kimco Realty Stock Down 3.6 %

NYSE:KIM traded down $0.79 on Friday, hitting $21.14. The stock had a trading volume of 3,580,730 shares, compared to its average volume of 4,870,454. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.73. The stock has a market cap of $14.25 billion, a P/E ratio of 41.38, a price-to-earnings-growth ratio of 4.23 and a beta of 1.51. Kimco Realty has a 1 year low of $16.34 and a 1 year high of $22.83. The firm’s fifty day simple moving average is $19.76 and its two-hundred day simple moving average is $19.43.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The firm had revenue of $500.20 million for the quarter, compared to analysts’ expectations of $500.87 million. During the same quarter last year, the firm earned $0.39 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts predict that Kimco Realty will post 1.6 earnings per share for the current year.

Kimco Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Thursday, September 5th. Kimco Realty’s dividend payout ratio is currently 181.14%.

Insiders Place Their Bets

In other news, COO David Jamieson sold 50,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the sale, the chief operating officer now owns 337,111 shares of the company’s stock, valued at $7,389,473.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kimco Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of KIM. Nicholas Hoffman & Company LLC. lifted its holdings in Kimco Realty by 5.9% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 17,981 shares of the real estate investment trust’s stock valued at $350,000 after purchasing an additional 1,000 shares in the last quarter. TD Asset Management Inc grew its position in Kimco Realty by 3.8% in the second quarter. TD Asset Management Inc now owns 229,317 shares of the real estate investment trust’s stock valued at $4,463,000 after acquiring an additional 8,294 shares in the last quarter. Naviter Wealth LLC grew its position in shares of Kimco Realty by 2.5% during the second quarter. Naviter Wealth LLC now owns 43,619 shares of the real estate investment trust’s stock worth $849,000 after buying an additional 1,084 shares in the last quarter. Wolverine Asset Management LLC grew its position in shares of Kimco Realty by 40.6% during the second quarter. Wolverine Asset Management LLC now owns 29,460 shares of the real estate investment trust’s stock worth $573,000 after buying an additional 8,511 shares in the last quarter. Finally, Generate Investment Management Ltd lifted its stake in Kimco Realty by 13.2% during the second quarter. Generate Investment Management Ltd now owns 305,820 shares of the real estate investment trust’s stock worth $5,951,000 after purchasing an additional 35,578 shares during 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.