Kimco Realty (NYSE:KIM) Given New $23.00 Price Target at Robert W. Baird

Kimco Realty (NYSE:KIM) had its price objective boosted by Robert W. Baird from $21.00 to $23.00 in a report released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

KIM has been the topic of a number of other research reports. Truist Financial reduced their target price on Kimco Realty from $23.00 to $22.00 and set a hold rating on the stock in a research report on Monday, May 20th. Piper Sandler reaffirmed an overweight rating and set a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Mizuho reduced 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 note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $22.15.

Kimco Realty Price Performance

NYSE:KIM traded up $0.05 during trading hours on Thursday, hitting $21.84. 1,768,312 shares of the stock were exchanged, compared to its average volume of 4,868,733. The company has a current ratio of 1.73, a quick ratio of 1.86 and a debt-to-equity ratio of 0.72. Kimco Realty has a 52-week low of $16.34 and a 52-week high of $22.83. The company has a market cap of $14.72 billion, a P/E ratio of 41.21, a P/E/G ratio of 4.23 and a beta of 1.51. The firm’s fifty day moving average price is $20.05 and its 200 day moving average price is $19.48.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (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 company had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $500.87 million. During the same quarter last year, the company earned $0.39 earnings per share. Kimco Realty’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities research analysts anticipate that Kimco Realty will post 1.6 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Thursday, September 5th. Kimco Realty’s payout ratio is currently 181.13%.

Insider Buying and Selling at Kimco Realty

In related 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 completion of the transaction, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at $7,389,473.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is owned by company insiders.

Institutional Trading of Kimco Realty

Large investors have recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Kimco Realty during the fourth quarter worth $27,000. Headlands Technologies LLC purchased a new stake in shares of Kimco Realty during the fourth quarter worth about $27,000. Principal Securities Inc. purchased a new position in shares of Kimco Realty during the fourth quarter valued at approximately $29,000. Criterion Capital Advisors LLC acquired a new stake in Kimco Realty in the 4th quarter worth about $33,000. Finally, Blue Trust Inc. increased its stake in shares of Kimco Realty by 613.5% during the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 1,816 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

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.