Evercore ISI Cuts Kimco Realty (NYSE:KIM) Price Target to $23.00

Kimco Realty (NYSE:KIM) had its price target cut by Evercore ISI from $24.00 to $23.00 in a report published on Tuesday morning,Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

KIM has been the topic of a number of other research reports. The Goldman Sachs Group increased their price target on Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. UBS Group increased their target price on Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. cut Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 price target for the company. in a report on Friday, December 20th. Scotiabank increased their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a report on Monday, November 25th. Finally, Robert W. Baird raised their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Ten investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.83.

Kimco Realty Trading Down 0.0 %

Kimco Realty stock opened at $23.61 on Tuesday. The stock has a 50-day moving average price of $24.55 and a 200 day moving average price of $22.68. Kimco Realty has a 52 week low of $17.57 and a 52 week high of $25.83. The stock has a market cap of $15.92 billion, a PE ratio of 42.93, a P/E/G ratio of 3.22 and a beta of 1.50. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). The firm had revenue of $507.63 million for the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. Equities research analysts predict that Kimco Realty will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.25 per share. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 4.24%. Kimco Realty’s payout ratio is presently 181.82%.

Institutional Investors Weigh In On Kimco Realty

Large investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC purchased a new position in shares of Kimco Realty in the third quarter valued at $17,636,000. Synovus Financial Corp lifted its holdings in Kimco Realty by 6.2% in the 3rd quarter. Synovus Financial Corp now owns 42,579 shares of the real estate investment trust’s stock worth $989,000 after buying an additional 2,476 shares in the last quarter. Tidal Investments LLC boosted its position in Kimco Realty by 17.9% in the 3rd quarter. Tidal Investments LLC now owns 35,999 shares of the real estate investment trust’s stock valued at $836,000 after buying an additional 5,466 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kimco Realty during the third quarter valued at about $31,000. Finally, World Investment Advisors LLC acquired a new stake in shares of Kimco Realty during the third quarter valued at about $269,000. Institutional investors and hedge funds own 89.25% of the company’s stock.

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.